CPG Brands’ 6 Ways to Stay ahead of the Curve
Keeping informed is synonymous to staying ahead of the curve. In order to succeed, food and beverage companies must continually track up-to-date and relevant information on their market from product innovations to consumer preferences. Here are six ways CPG brands can remain in the know.
1. Subscribe to various news outlets reporting on the CPG market.
FoodDive, GMA SmartBrief, Specialty Food News, and Supermarket News are just a few that the ChefsBest team reviews daily.
2. Study the culinary traditions of incoming cultures.
Take a look at NPD’s reports “International Food & Beverage Habits” and “NET Hispanic Study.”
3. Attend industry trade shows and events.
Reference ExpoMarketing’s list of some top trade shows for the food industry.
4. Look out for new research reports.
Make use of these resources for the latest research NPD’s Food & Beverage Market Research, Food Marketing Insight’s Industry Research, Google Food Trends Report and the McCormick Flavor Forecast.
5. Monitor what’s happening on social media.
Download Brandwatch’s report “Social Listening in the Restaurant, Food & Beverage Industry” and consider partnering with research firms to garner more social media insights on topics that matter to your company.
6. Conduct your own market research.
Hold focus groups, facilitate consumer surveys, and, when possible, outsource to unbiased independent research companies to perform your research.