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5 Top New Sources of Insight for Growth - April 2021

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Amy Bond, Assistant Librarian & Information Specialist

Kantar Vermeer produced a report called Insights 2020 (i2020). Their research involved interviews and surveys of more than 10,000 business practitioners worldwide. Of the factors that were found to drive customer-centric growth, none mattered more than a firm’s insights engine (Van Der Driest, Sthanunathan and Weed, 2016). Bord Bia develops its own collection of insight resources to help fuel our clients’ insights engines and power their growth. We know that time can be a constraint, so for your convenience, this article will highlight 5 Top New Sources of Insight for Growth:

 

  1. Think Global, Buy Local! The Science of Identity Shopping (Canvas 8, April 2021) In this article Canvas8 explore the global trend of how uncertainty has focused consumers on expressing their identity through their purchasing habits. Canvas8 spoke to Sharon Ng of Nanyang Technological University to understand the impact of global-local identities on shopping habits.
  2. What Next for Positive Nutrition? Exploring Consumer Attitudes towards Ingredients (FMCG Gurus, March 2021) This report looks at global consumer attitudes towards ingredients and how they have shifted in the past year. Consumers have significantly re-evaluated their attitudes towards health as a result of COVID-19. They are now adopting a long-term and proactive approach to health.
  3. Sustainability in Q1 2021 (IGD, March 2021). This report highlights 10 sustainability case studies in the food and CPG industry. The innovations show companies’ strong commitments to social sustainability, technological and digital advancement. Retailers and suppliers continue to place an emphasis on reducing plastic usage, by introducing refillable/ reusable packaging or removing plastic and introducing paper packaging.
  4. Improve emotional wellbeing through food and drink (Mintel, April 2021) Functional ingredients and product formulations can support consumers' emotional wellbeing and can even be used to elicit certain moods. Consider sleep as the foundation for emotional wellbeing. Improve sleep with functional ingredients to reduce stress and anxiety. Look for ways that food and drink products can complement mood-boosting activities
  5. The Coronavirus Era: Where and How Consumers Shop in Food and Nutrition (Euromonitor, April 2021) The coronavirus pandemic has significantly changed where and how global consumers shop. This report delves into these two important aspects of shopping, where and how, from the point of food and nutrition and gives a clear understanding of which channels to invest in and what kind of solutions businesses should adopt to be agile and stand out as the competition intensifies.

 

Bord Bia client companies who wish to discover insights that power their growth and/or learn more about any of these sources can contact the Knowledge & Market Intelligence Team at thethingkinghouse@bordbia.ie

 

References:

Van Der Driest, F., Sthanunathan, S. and Weed, K., 2016. Building an Insights Engine. [online] Harvard Business Review. Available at: <https://hbr.org/2016/09/building-an-insights-engine> [Accessed 19 February 2021].

Kantar Vermeer. (2020). Insights 2020.

Canvas 8. (2021). Think Global, Buy Local! The Science of Identity Shopping.

FMCG Gurus. (2021). What Next for Positive Nutrition? Exploring Consumer Attitudes towards Ingredients.

IGD. (2021). Sustainability in Q1 2021.

Mintel. (2021). Improve emotional wellbeing through food and drink.

Euromonitor. (2021). The Coronavirus Era: Where and How Consumers Shop in Food and Nutrition.