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Rapid innovation – Driving the product innovation process
A key requirement for any brand is the need to innovate at speed. Delivering rapid innovation can be achieved by working alongside consumers at the earliest stage of development, to help understand potential new product requirements.
The grocery sector presents a dynamic environment, which is undergoing rapid change. The landscape is in a state of flux with new entrants, new technologies and shifting shopper mindsets and behaviour forcing retailers and manufacturers to adapt strategies and operations faster than ever before.
Consumers are increasingly shopping around for something new and different combined with the best prices. Retailers are working on optimising their channels, to offer the most relevant and bestshopper experience through m-stores, c-store and online. Meanwhile manufacturers need to both attract and convert shoppers at the point of purchase and convince retailers that they add value to the category to avoid being de-listed.
This means that innovation, brand and commercial category teams have the unenviable task of collectively reassuring retailers that they are market leaders in their category, have relevance and add value, and are not simply following the competition. And to achieve this it’s all about the old adage, innovate or die.
At Future Thinking, we believe to really understand consumer buy in, there is a need to proactively understand their behaviour. By involving early adopter consumers with product development at the earliest possible opportunity, efficiency of resources and speed to market is maximised over the course of development.
Download our paper to see how we’re helping leading FMCG brands innovate at speed.
For more information please contact Anna Appleford on +44 (0) 3333 208 220.