Doesn't it sound exciting to be the head of trendspotting in business? I interviewed Ann Mack, Director of Trendspotting at JWT for some insights from JWT's 100 Things to Watch in 2012. I wanted to go behind the scenes of their 10 Trends for 2012 Food Forecasts and in particular food trends for 2012.
Ann and I discussed food trends I consider to be disruptive and a game changers for new product development and new product launch for CPG brands in the food & beverage sector.
JWT is the world's best-known marketing communications brand. Headquartered in New York. JWT's client roster includes major CPG and brands such as Bayer, Cadbury, Diageo, Kellogg's, Kimberly-Clark, Kraft and Nestlé.
The term "new normal" proliferates in business journals and throughout the Internet. However the 10 Trends for 2012 Food Forecast does illustrate changing shopping behavior as consumers navigate the "new normal".
According to Ann, "People are trading down, cutting back and clipping coupons. Food & Beverage brands are opening up more entry points for extremely cost sensitive consumers. These 'entry points' can be stripped down services, smaller sizes and affordable indulgences. A consumer might not indulge in the larger version of something...since the perception may be it is overly indulgent and the real issue of watching the budget".
In the article, Food Trends 2012 from JWT 100 Things to Watch, I learned from Ann Mack how food & beverage brands are responding the new normal and a way to look at marketing from the perspective on "Entry Points". The Entry Points we covered are:
Small Bites Phenomenon - Right sized products that are indulgent without the guilt. This drives the new consumer behavior Perpetual Snacking.
Food Fairs - Venue such as green markets, food trucks, foodie-ism driven by Millenials as they travel the world through food
Screened Dining - Our new screens, iPads and Smartphones, are used in our every day lives and now encroaching on the dinner table
Smaller SKUs - A telling trend based on a new segment called the Struggling Consumer. Value to that struggling consumer is a price point... and nothing more.