In May 2016, a study by the Vegan Society revealed that 3.25% of the UK population are vegetarian or vegan, with numbers continuing to rise. There are also those that don’t classify themselves as vegetarian or vegan, but want to reduce meat consumption for environmental reasons. Some of the alternatives to traditional meat and dairy […]
Tesco are launching their new discount store, Jack’s, this September, and planning to roll out 10 to 15 stores across the UK within the next six months. The stores will contain around 2,600 product lines, which are mostly Jack’s branded. They will be positioned next to Tesco stores or be converted Tesco stores.
According to a recent article from The Guardian, shoppers are starting to prioritise whether they can recycle or reduce their food packaging when shopping. Previously, the primary concern for shoppers was price, but emerging trends are continuing to gather pace: environmental considerations, vegetarianism and veganism, and ethically-sourced produce.
85% of new products fail in the first year. The cost to develop a product is too high in comparison to its performance, and the innovation process in consumer goods is not as streamlined as it could be.
What do a multi-billion pound global food corporation and a startup with two people working out of their kitchen have in common? It’s pretty simple: overcoming the innovation struggle is key to success for both companies. While the two extremes of the spectrum have vastly different challenges, some big brands are now turning to the […]
How Can You Ensure Your New Product Will Be The Next Big Thing?
In our last report, we discovered how emerging trends such as Vegan don’t necessarily make products more popular when they hit the mainstream shelves of retailers. So, how can you predict when your product or NPD concepts will tip from being cool with the minority to adopted by the masses and commercially successful?
A recent study in the journal Science suggests that people’s preferences and actions are influenced by social dynamic and that you need at least a quarter of your audience to elevate something from hipster trend to mainstream.
As reported in The Independent newspaper and the journal Science, 200 people took part in an online naming game where they were shown a face for which they had to come up with a name alongside an anonymous partner. To win, they both had to write down the same name. They were then shown the suggested names after the round ended.
After a number of rounds with different partners, and when at least 25% of people chose the same name, this very quickly became the majority viewpoint.
There are multiple ways to iterate your product’s way to success, whether it be at concept stage, in the final waves of refining a product to go to market or in the trenches, pulling a product’s failure on shelf to pieces after the launch. Interestingly, VYPR works in a similar way to the Science journal study.
VYPR’s technology connects your products to consumers like never before. We break down every element of new and existing product propositions into their constituent parts; testing their relative contributions to product performance with 1000s of consumers via smartphone, both online and in store. Combining these insights with social listening data – for instance – could help you to predict just how ready your audience is to adopt your product concepts or help you to change them towards a better outcome.
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Image courtesy of Eater.
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