New Consumer Goods market report from Datamonitor: "Experimentation: Consumer & Innovation Trends"
Boston, MA -- (SBWIRE) -- 05/24/2012 -- Brands must stay relevant to consumers over time. This requires understanding their propensity to try new things, and what triggers switching behavior. This research finds that experiences outside of an immediate or known frame of reference are increasingly desired. But choice is also characterized by the careful consideration of risk, and desire to simplify decision making by sticking to routine
- Pinpoint over 80 marketing and innovation 'platforms' that can be employed to entice new product trial. See how they relate to 'on-trend' examples
- Access a unique blend of consumer and innovation insight to understand consumers propensity to experiment and what can be done to better attract them
- Trend overview and sector specific analysis covering food, non-alcoholic drinks, alcoholic drinks, personal care, household care, packaging and retail
A "cosmopolitan mindset" is especially apparent in food choice. It broadens consumers' "sensory repertoire," i.e. exposure to, and acceptance of, new concepts, cuisines, flavors and scents. Globally, 43% acknowledge this by agreeing with the statement, "my taste in food has changed as a result of exposure to foods from other cultures"
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Simply making good products is not enough anymore to drive growth. This is because consumers connect with products that are, in some way, unique. For long-term growth, CPG companies must give consumers new Reasons to Get this Report. This often depends on factors beyond core product features. Marketing innovation can spur a re-evaluation of preferences
70% of global consumers say experiencing new things is important to them. Novelty offers a pleasant escapism, or reward. Such sentiment makes consumers more eager to branch out from their routine, and experiment with new and unusual sensory attributes (i.e. flavors and scents). Indeed, "new world" quality cues put more emphasis on novelty.
Reasons to Get this Report
- To what extent to do global consumers experiment and show interest in new products across the major FMCG sectors?
- What is the 'Experimentation' sub-trend? How does it impact consumers? What will it mean for core product and marketing innovation in my sector?
- What is the balance of consumer opinion towards a range of 'Experimentation' influencing issues? How does it vary by country and demographics?
- What are the key mega-trends, trends, and sub-trends that are shaping the consumer and innovation landscape. Where does 'Experimentation' fit?
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