EXPORT RECOVERY SERIES | SECTOR UPDATE | FOOD AND BEVERAGE
Health is the new Wealth.
Consumers don’t have a lot of control over their lives at the moment, but can control what they put into their body – and substitution to ‘better for you’ products has soared….
The Panelists on today’s Webinar maintained the optimism we have been hearing for this sector, but also emphasised thatthe time to start innovating to meet the opportunity is right now – not in months from now…
Click the link above to watch the replay – our outtakes from the discussion are below :
‘Get your head out of the weeds and look at the new horizon.’
‘Channel selection is so key’ – Emma Loisel from Volcano Coffee talked of how pre-C19 95% of their business was in route and wholesale. They used the time over lockdown to communicate to grocery buyers, and implement their online channels better – you can come out of this in a much better place, reinventing your business around the dominant channels of today.
The need to innovate products to fit the ‘new’ market. Bob Burke talked of a ‘recession if not depression on the horizon In the US’. At the beginning of this crisis, buyers in the US put all new products on hold. These restrictions are now easing off, and buyers are now receptive to new Food and Beverage products, but vendors would be wise to offer more value within their approach to this ‘new’ market, such as greater volume single packs or multi-packs.
How do you react to new consumer trends? Tom Dorman of ‘Tom & Luke’ shared that their new NPD is data driven to an extent, utilizing data analytics to see what ingredients in health and immunity, for example, are trending, but only as a starting point – NPD has to ‘fit’ with what makes you, you.
Tom Dorman – ‘People buy story, people buy emotion, people buy values – that’s local, wherever you are….’ You can export to markets like the US, Australia and Europe, and still leverage off being ‘local’ with the culture and values you represent.
‘Make from passion, not just make from our fields.’ Bob Burke talked of the opportunities for New Zealand produce within the US, with a significant amount of interest in what makes this country tick – add your story to New Zealand’s core values of ‘clean and green’, and leverage this in your approach to buyers.
Collectivism might have a new place – collaborate and take risks in helping others, and mutually benefit, or benefit in ways not anticipated.
Emma Loisel – use this reset and realise maybe things that seemed immovable, can now be moved. Consumers have taken this time to substitute for ‘better’ – better products and better service – are we up to give this to them?