Summary
Consumers worldwide are trading down and discounting is
becoming more prevalent, hurting the profit margins of many manufacturers.
"Quality, Indulgence and Premiumization Strategies in Food - Defending
Against Market Erosion" provides a comprehensive overview and strategic
analysis of how brands can effectively defend their profits despite the
emergence of value competitors. The report focuses on the strategy of premiumization,
to encourage consumers to trade-up in terms of both price and quality. The
growing popularity of private label alternatives is also addressed - and what
brands can learn from them, and ultimately defend themselves against
discounters by offering consumers the highest quality, and drive sales.
Key Findings
The global financial crisis has affected consumer spending,
and despite economic improvement across much of Europe and the US, consumers
have not reverted to previous spending habits. Manufacturers must consider the
austerity needs of these consumers by providing value, not solely in terms of
low cost, but also to trade-up for quality.
Taste and indulgence will continue to drive consumption
across Food categories, and manufacturers should ensure that their products
offer consumers the best overall experience. Consumers are unwilling to
sacrifice taste for other concerns, such as health, re-enforcing the need to
offer products that offer uncompromised moments of pleasure and indulgence,
particularly, in Non-BRIC countries.
Consumers, particularly in BRIC countries, are increasingly
seeking products that offer assurances of quality, and manufacturers should
respond by ensuring transparency in terms of sourcing, production, and
ingredients to drive sales, as the desire for authentic and trustworthy
products increases.
Many consumers no longer view private labels as cheap,
lower-quality imitations of branded products, instead perceiving them to be of
an equal, and sometimes higher, quality. Branded manufacturers can defend
against the growing popularity of private labels by accelerating innovation, or
to corner a niche market which holds no attraction to private labels.In
addition, the growing premiumization of private label offers means that making
private label products could improve the profitability of some manufacturers.
Complete Report Available at http://marketreportsstore.com/quality-indulgence-and-premiumization-strategies-in-food-defending-against-margin-erosion/
.
Synopsis
Weak consumer confidence, rising production costs, and the
rise of discounters and private labels are threatening the profit margins of
food manufacturers worldwide. However, there are occasions when consumers will
trade up to a more expensive than average product, but which offers a lot for
the additional amount paid. This means that manufacturers need the correct
premiumization and indulgence strategies now, in order to not just protect
profit margins, but to also position themselves to make the most of future
growth opportunities. "Quality, Indulgence and Premiumization Strategies
in Food - Defending Against Market Erosion"provides manufacturers with the
insight and knowledge to protect, and drive their sales.
In particular, this report includes:
Identification of trading-up opportunities for
manufacturers, where consumers whose stated desire for indulgence and quality
is not being met.
How manufacturers of branded products can appeal to
price-conscious consumers by providing everyday low-prices, as opposed to
offers and deals.
The necessity of ensuring products focus on taste and
ultimately experience, as consumers still seek the most indulgent products,
despite their best intentions to eat more healthily.
How authenticity is driving sales across many sectors, most
notably meat and dairy, as consumers seek assurances over the ethicality and
organic nature of their Food, and the intrinsic link to quality.
How private labels are becoming a genuine threat to even the
biggest brands, and how these brands can defend against market erosion from
lower-priced competitors through premiumization.
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Reasons To Buy
This report provides the knowledge and insight to aid
branded manufacturers to defend against margin erosion from the competition and
consumers value-seeking behavior.
This report identifies the future directions for
manufacturers to target changing consumption habits, as ethicality, quality,
and craftsmanship become increasingly influential.
The growing popularity of private labels can be detrimental
to brands; this report will identify the key areas in which to defend against
incursion from private label products, and regain lost market share.
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further information on “Quality, Indulgence and Premiumization
Strategies in Food – Defending Against Margin Erosion” report OR for any other market
research and intelligence needs you may have for your business.
