Is Your Category At Risk From A New Breed Of Insurgent Brands?
According to Bain’s analysis of over 90 fast-moving consumer goods categories, a new breed of “insurgent” brands has outpaced category growth rates 10 fold in the last 5 years; capturing 25% of total growth in sales from 2012 – 2016. The data is from the USA, but the analysts are seeing similar trends globally in developed markets, including the UK.
As consumer needs change, these small and agile brands are responding at increasingly lower cost and faster paces to innovate. They are unencumbered by archaic product development processes, quick to adopt digital technology to improve insight and product performance at retail and doggedly pursue the optimisation of their hero products before considering expansion. VYPR is proud to work with some of these brands, as well as supporting established businesses willing to embrace more agile methodologies to improve product understanding and performance.
At the heart of all of this is a commitment to agility: to survive, grow and thrive. Their consumer propositions are clear and authentic and their brands are activated in innovative ways across multiple channels. Critically, insurgent brands are focused on relentless test and learn programmes to drive up brand memorability, shopper visibility and range productivity.
For instance, Bain cites one beauty company that developed a minimum viable product within two days and launched a new click-through social media campaign within four weeks.
Across the FMCG spectrum, VYPR is playing an increasingly pivotal role when it comes to supporting agile product development process. With VYPR, every SKU can be optimised to the nth degree, ensuring that every product achieves its greatest potential.
From initial concepts, product names, branding and packaging to ingredients, colourways, pricing and marketing messages, the anatomy of every product is different and it can be difficult to decipher what is truly driving purchase behaviour in store. Every week, we test 1000s of variables that make up every product with consumers, providing effective tools and techniques that deliver fast, statistically-robust and consumer-led intelligence to enhance, accelerate and predict existing/new product performance.
Whether you’re focused on optimising your existing products or testing new concepts, VYPR can save you £000s in product development and failed launch costs, as well as getting your product to market faster. That’s why 100s of product developers, marketers, commercial managers, category managers and buyers choose to deploy VYPR every day, throughout some of the UK’s leading retailers and manufacturers.
You can also see the full Bain article here.
Headline image courtesy of deliciousliving.com
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VYPR can save you £000s in product development and failed launch costs, as well as getting your product to market faster. That’s why the UK’s leading product developers, marketers, commercial managers, category managers and buyers choose to deploy VYPR every day. Every SKU can be optimised to the nth degree, ensuring that every product achieves its greatest potential.
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