How CPG companies should adapt to “the new consumer experience”

December 6, 2018 by Leave a Comment

"The traditional five Ps of marketing are obsolete in the era of the new consumer experience"

“It’s a brave new world for CPG brands – and the critical organising principle for food companies should be what I call the new consumer experience, which involves how we shop, what we consume and how we form personal relationships with brands.

And central to the new consumer experience is the millennial-minded consumer.

In this age of the new consumer experience and millennial-minded consumer, the traditional five Ps of brand marketing no longer apply as conventionally interpreted and understood. The emergence and centrality of the new consumer experience is changing everything we were taught in business school or on the job.

Why? Because consumers today want brands that create experiences that resonate with them personally and with those in their tribe or community who share the same values and lifestyles.

For example, telling stories and creating experiences around a CPG brand using social media and other creative online and offline platforms matters as much or more today than the free-standing coupon insert and 60-second television spot has over the last 50 years.”

Read more here.

Filed Under: Global Market Buzz, Heard on The Street, Local Market Buzz, Operations Tagged With: , , , , , , , , , ,

Shoppers Want Deals, Coupons for Groceries More Than Any Other Category

September 26, 2018 by Leave a Comment

grocery technology omnichannel grocery supermarket research

“The 2018 Purse String Survey reveals that 93 percent of respondents show interest in coupons and deals. Some 82 percent typically use coupons for their routine, weekly grocery shopping trips, and nearly half (47 percent) do so for fill-in trips, as well.

But there’s also a major opportunity for online grocers, according to the research. Grocery ecommerce adoption is on the rise, with 13 percent of respondents saying they are buying more groceries online for delivery compared to last year, and 12 percent saying the same for click-and-collect. Delivery numbers rise even higher for dads and Hispanics, while click-and-collect numbers rise for Millennials and Millennial parents.”

Read more here.

Filed Under: Heard on The Street, Shopbuzz, Trending Now Tagged With: , , , , , , , ,

Webinar Event: Understanding The Decline In Dining Out

September 12, 2014 by Leave a Comment

On September 23rd, 2014 at 2:00 EDT, an expert panel will host a live webinar titled,” Competing with the Refrigertor: Understanding the Millennial Decline in Dining Out.” The topics discussed will include how millennials form their dining decisions, what you can do to drive trial, and how to encourage long-term brand loyalty among Millennial customers. Millennials have a spending power of nearly $400 billion annually, yet they are choosing to dine out less frequently. In fact they are dining out 20% less than they did in 2007. The webinar will discuss how important it is to understand how millennials decide where and what to eat as this is the key to turning things around.

Webinar hosts include Dan Santy, President & CEO of Santy Integrated. Santy has a good understanding of the motivations that drive millennials and the marketplace has lead to intelligent strategies for an impressive roster of restaurant and multi-unit dining clients. Adam Pierno, Director of Brand Strategy and Planning at Santy Integrated will showase millennial insights in media, technology and the marketplace which lead to positive and revenue enhancing change for diners. James Bickers, Senior Editor of RetailCustomerExperience.com from Networld Media Group will also join the discussion as he has written about technology-related issued for many years both nationally and internationally.

For more information on how to join the live webinar, click here
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Adjusting to Changing Landscape of Prepared Foods

January 29, 2014 by Leave a Comment

Supermarket News reports that retailers need to reposition their prepared foods line in order to stay afloat as demand for prepared meals spikes, according to a study by Acosta Sales & Marketing in Jacksonville, Florida. To be exact, 27% of shoppers go to supermarkets just to buy a prepared meal. The need to meet the “increasing desire for convenient, healthy and economical prepared meal solutions” is real. The study identifies three main considerations in the shifting supermarket shopping landscape:

  1. Millennials
  2. Convenience of buying meals out to eat at home
  3. Digital shopping

For operators interested in repositioning their aligning their prepared foods with the new face of the consumer market, the study suggests the following:

  • Ensure adequate signage and promote prepared foods throughout the store.
  • Offer value menu options and low-calorie versions of home-cooked favorites like pizza and macaroni and cheese.
  • Offer ready-to-eat options that would typically take a long time to prepare at home, such as barbecued or slow-cooked foods.
  • Offer a variety of ethnic meal options geared particularly to the Millennial consumer.
  • Focus on add-on sales, since nearly half of shoppers studied said they purchased additional prepared items besides those they had planned to buy.
Filed Under: Uncategorized Tagged With: ,

New York’s First Customizable Sushi Enterprise

January 20, 2014 by Leave a Comment

“Customizable” and “made-to-order” food are two of the biggest consumer trends for 2014. 22-year-old entrepreneur Jesse Tang saw potential to apply these trends to a major untapped market— sushi. “Pink Nori,” Tang’s sushi venture in Astoria, will be the first sushi concept to truly grant customers limitless freedom to customize their rolls. “The millennial generation likes to try new stuff,” Tang reasons. The menu will feature atypical sushi condiments such as guacamole, jalapeños and potato chips. Tang recently graduated from Stony Brook University and will use his $10,000 prize he earned from the Long Island Young Entrepreneur Challenge to market Pink Nori. Jesse’s father, restaurateur Danny Tang, will offer a hand in business operations. Astoria’s burgeoning dining scene and proliferation of young professionals with disposable incomes inspired Tang’s enterprise location decision.

Filed Under: Local Market Buzz, Openings, Trending Now Tagged With: , , ,

Marketing to Millennials

December 17, 2013 by Leave a Comment

At a Culintro panel event earlier this month, we heard insights about marketing to millennials from Corey Cova (Chef and Owner of Earl’s Cheese Bar, ABV and Dough Loco), Andrew Tarlow (Owner of Marlow and Sons, Diner, etc.) and Harris Damashek (CEO of Underground Eats). Millennials are the segment of customers who are ages 13 to 30, and they are transforming the way restaurant owners market their brand. In this month’s Enterprise Insight, we review factors that are most important to consider when attracting millennials.

1) Ambiance

Generation Y is seeking an “experience” that goes beyond just a good meal. Twenty-somethings view a meal as a meaningful gathering with friends and family, not just a source of sustenance. This is in contrast to how the Baby Boomer generation once perceived eating out. The décor, lighting and music have just as much of a role as the quality of the food.

2) Food Sourcing

Millennials comprise the first generation that, as a majority, was raised consuming ethnic cuisine. Sushi and Indian food were just as commonplace as a slice of pizza and a hamburger. Because ethnic foods are so familiar to this generation, it’s important not only to reinforce cuisine variety, but also to add an innovative touch. This generation possesses a solid awareness and places importance on ingredient sourcing. They value where their food comes from and whether it’s local, organic and sustainable.

3) Social Media Marketing

This segment is fluent in a variety of social media platforms and employs them as a means of communication with friends and restaurateurs. The preponderance of social media apps has changed how owners respond to customer feedback. Back in the day when a customer had a complaint, he or she would pick up the phone and inform a manager; now if someone posts an unflattering food picture to Instagram or tweets a negative comment, the whole world can see. Social media can be used to a restaurateur’s advantage in addressing complaints quickly and genuinely, but also in maintaining positive relationships with customers. Millennials rely on social media to seek restaurant discounts and loyalty programs. Staying current and maximizing your restaurant’s social media presence reinforces the simplest method of marketing: word-of-mouth.

4) Community Ties

Millennials like to feel a connection with restaurants. They take note and are attracted to restaurants that both internally and externally exhibit ties to the community. Internal examples include staff interacting with guests. Sponsorship and support of local artists and musicians as well at charitable donations are some of the external community ties Millennials appreciate.

No generation is more important than another, however Millennials’ pervasiveness should make you analyze your current marketing strategy.

Happy Millennial Marketing…TaraPaige Group.

Filed Under: Enterprise Insight Tagged With: , , ,