The food & drink insight sector isn’t really set up to support new or small manufacturers.
Why is this an issue? Because, by giving the larger organisations an obvious advantage, it hinders competition. Which in turn hinders innovation and growth within categories.
There are a handful of corporate Insight companies that provide valuable data to the food & drink industry. The likes of Kantar and Nielsen are able to provide transactional data, provided to them by consumers and retailers.
1. The cost gap
However, the cost of accessing this data can be out of reach to most small or new manufacturers. £5k might buy them a handful of charts to show what’s going on in their category. Accessing enough data to cut and analyse for themselves tends towards the £15k-£20k mark.
When a talented and ambitious new brewer approaches a Retail buyer, they are expected to bring this kind of data with them. A tasty craft beer, intriguing back story and flowing facial hair isn’t going to set them apart – the last brewer made the same pitch.
The Buyer wants to know what actually makes them different, and they want data to illustrate why they deserve shelf space.
However, this financial burden is just one part of the Insight Gap
2. The Size gap
The next issue facing smaller brewers is that even if they can afford to buy the data, it’s not going to tell a story about their own brand.
Retailer EPOS data doesn’t tell them anything about their customer.
And without a significant market share they won’t feature enough within consumer data to accurately identify who their customers are.
3. The Data Bias
Finally, there’s the problem that the transactional data on offer is only that – transactional. It tells us what shoppers have done, and even suggests what they might do through trends.
It doesn’t tell us why they do it.
What motivates them to stay loyal to a category or to a brand?
Why they switch from lager to craft?
Why do they buy both?
Understanding the attitudes and motivations behind shopper behaviour is the key to unlocking market share. And for the industry as a whole, it’s the key to category growth.
What are we doing about it?
We’re disrupting the insight sector….
Our Crowdfunded Insight is designed for the big guns and the wee guys both…
Providing true insight into shopper attitudes and motivations
At £500, it’s affordable to every brewer
And lastly, we have a trick up our sleeve to make sure that even the small brands will get something relevant and insightful to present to Buyers.
To find out more, and to sign up, got to