It takes around two years for major food companies to bring a product from the beginning of its NPD process to the store shelves. Some food startups have rapidly developed their entire product categories in just a few short years, like Raw Halo with their dairy-free chocolates, and Crosstown Doughnuts, who sell sourdough donuts with vegan options. Existing food leaders will need to adapt to a industry that is increasing its pace on the market. Vypr is perfectly suited to this process.
Speeding up concept screening
Using modern data and behavioural science, food producers can design and grow their product lines. Using Vypr can dramatically speed up NPD and research and development processes, saving time and money. The Vypr app allows food retailers and manufacturers to ask consumers about new product concepts, flavours, packaging, and pricing ideas. Our consumer community is made up of thousands of participants, so data is gathered quickly. By focusing on the winners and dropping the dud ideas, manufacturers can speed up their NPD process.
Producing trial runs of new ideas
While it’s hard for large food leaders to scale down on production, it may be worth releasing finite series of a new product. They can do this by developing new brands internally, that still have the backing of their company brand, but have their own identity. By doing this they’ll be testing ideas more quickly, and delivering new products at a faster rate, without compromising on brand.
Find different ways to sell
Supermarkets aren’t the only way to sell products. With the power of the Internet, food companies can roll out new brands through their company website, using social media to spread awareness and advertise. They can sell directly to consumers from warehouses, allowing for more elasticity. They can also take advantage of local food fairs and markets.
Use split testing
Split testing (also known as A/B testing) allows for testing of all elements of a new product, including flavour, imagery, packaging claims, pricing, and more. The Vypr app lets users test by image, or by description. Split testing lets them see what variation is the most popular, without their audience knowing what is being testing. This works better than showing each consumer two or three options and asking them to choose one. Split testing gives an insight into the elements of the product itself, and food leaders can use this information to curate a product that will perform well on the shelves (supermarket or virtual).
By adopting these strategies, large food companies can play to their strengths and deliver new products more quickly, keeping up with the markets and with startups.