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?
So, How Much Is Vegan Truly Converting Consumers? In our latest study, we sought to test how much emerging concepts hitting the mainstream are likely to translate into trial, purchase intent and commercial success. Vegan is a trend that has fast been adopted by restaurateurs, food manufacturers and retailers across the UK. It’s perceived to be a highly-lucrative area for new product development. However, aside from the noise being made in the FMCG sector and trade press, how ready are mainstream UK consumers to adopt it into their everyday lives and how differentiating and value-adding is Vegan to product ranges? Our latest research suggests that simply introducing or reformulating a product as Vegan doesn’t necessarily mean you’re going to be onto a commercial winner and VYPR is helping brands to identify the pitfalls to avoid.
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.
Is your product research missing a trick? VYPR research suggests that better in store contextual insights could further enhance your category and purchase intent understanding. Propensity to purchase modelling and predicting commercial success from NPD and promotions can be an expensive and complex exercise. The latest results from VYPR research indicates that a critical component could be missed: that final moment when a consumer chooses to pick up your product and put it in the basket.
We’re delighted to announce that VYPR Founder and CEO Ben Davies has been named in this year’s Maserati 100 list of leading entrepreneurs. Now in its fourth year, the awards recognise Britain’s entrepreneurs who have made valuable contributions to the economy. Voters can put forward names of businessmen and women to be included in the prestigious list. Winning candidates are described as people with a big idea that converted into a successful business.
We’re delighted to announce that we have been selected as one of the 50 most exciting companies in the North West of England by Insider. Our feature will be presented in Insider Magazine, which will hit the shelves (both online and in stores) in the next few days.
According to leading scientists, the world will run out of food by 2050, thanks to a population boom, which has producers across the planet looking at new ways to keep us all fed in the decades to come. According to recent reports (including the BBC’s Today programme this week), that means it may soon become legal in the UK to use insects as a food source for chickens that will ultimately end up on British plates. In the latest of our series on food waste innovation, we sought to find out just how accepting consumers are to the change and what this means – most importantly – for purchase intent.
Food waste is high on the political agenda. This week, VYPR commissioned a report on consumer attitudes and behaviours surrounding food innovation in waste, importantly seeking to understand how this might impact purchase intent. Over 70% of consumers claimed that they would buy products featuring ingredients that would normally go to waste. 90% of respondents feel that waste is a serious issue, while 93% of UK consumers claimed that they felt individually responsible for taking action to reduce waste. Importantly, 89% indicated that they want to make a difference to tackle the problem, which surely puts pressure on food manufacturers and retailers to proactively empower their customers to take action. However, when we delve deeper and it comes to trying new innovative waste concepts, it is clear that there is still a long way to go to convince consumers to behave differently and embrace change.
Our clients are always on the hunt for inspiration to fuel their NPD or add something new and innovative to existing product ranges. VYPR comes into its own when testing new ideas and concepts. So, in the last month, we’ve picked out 6 key trends that are edging their way into the UK mainstream – Indian Street Food, Portuguese Cuisine, West African Cuisine, Japanese “Dude” Food, Vegan Food and Flexitarian meat products – and put them to the test across the VYPR panel. Whereas you’d expect certain shoppers to warm to certain flavour profiles, what is more interesting is to see just how complex the breakdown of acceptable trial formats would be across different supermarkets and demographics. It certainly isn’t one format fits all.
We have never had so much data at our disposal when it comes to retail. Huge investments are made every year in securing access to EPOS data, surveys, qualitative and quantitative market research, tasting panels and trend analysis. So, why is it the case – according to the most recent studies from leading management consultancies – that the vast majority of new and existing (refreshed) products still fail to achieve their fullest potential? Plus, why is it that product developer and category budgets are under such pressure and scrutiny (when it comes to accessing these tools) if it’s all working so well?
85% of new products fail.
We’re on a mission to change that.
In our experience, people fail to test products effectively with consumers, either because it’s too expensive or they’ve been burned by relying on old-school market research that doesn’t translate into commercial performance at the ultimate moment of truth: in the live context of a frantic shopping mission.
We’d love you to road-test Vypr, give us your feedback and enjoy the benefits of better product intelligence. We’ll connect you to 1000s of consumers and you’ll get unlimited opportunities to test your latest innovations or iterations.
If you love Vypr, we’ll get you an annual licence set up. If you don’t, we’ll leave you be. Vypr works best on low-consideration purchases such as FMCG, fast fashion, small consumer durables.