46% of shoppers are more likely to try new brands than five years ago, and with more shoppers willing to shop around for their products, making sure that you are up to date with the latest FMCG industry trends to help new product development is crucial to make sure you’re ahead of the curve.
So, why is it so important that you meet the needs of your shopper online, and how can you do this?
Shoppers are trying new brands
The COVID-19 pandemic has encouraged shoppers to experiment with new brands throughout lockdown, with more than a third of people worldwide stating that they bought from a new brand during this time (Marketing Dive), and this trend seems to be continuing into 2021. Shoppers are therefore less likely to stick to your brand alone, making it crucial to differentiate your product as much as possible on the digital shelf. Innovate to make your product different from the rest, so shoppers aren’t tempted to shop around for alternatives.
The preferences of the shopper are evolving
Shoppers tastes are evolving – more and more shoppers are becoming health conscious, accelerated by the COVID-19 crisis and the recent focus of the fight against unhealthy foods in the UK. Being in control of what shoppers put into their bodies, what they cook and purchase, is an important driver in how shopper behaviour has changed in the last year. It’s important to measure these trends, and find potential gaps in the market for growth going forward.
Shoppers want transparency and trust
Shoppers want transparency between themselves and the brands they purchase from. In fact, in a recent survey, shoppers stated that they believe only 62% of brands are transparent with the contents of their products (Food Industry Association). With online shopping becoming incrementally more popular, shoppers are becoming more proactive with researching products and ingredients to assist their buying decisions. By using data, you can leverage this to analyse your competitor’s performance, category specific attributes and accurate product information.
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