Fast Moving Consumer Goods (FMCG)

A deep understanding of your customer needs will able you to stand out from the crowd and bring innovations that will last!

Why is focus on innovation in fast moving consumer goods important?

Fast moving consumer goods are:

  • products that are consumed very often and therefore often low interest
  • products that need to be replaced frequently
  • highly competitive due to high market saturation low consumer switching costs

In many cases innovations in fast moving consumer goods are developed in a completely random way: no vision, no strategy and hardly any focus in the pre-product lifecycle. Most companies do recognize the difference in approach between incremental innovation (new taste, new packaging) and radical innovation (totally new product). But apparently this distinction does not result in a clear vision on how to handle innovation internally or to define ambitions.

Challenges:

  • Bringing new and innovative products to market for FMCG companies is a necessity, but it is hard to surprise, tease or seduce the consumer.
  • convenience has become a “ hygiene factor”, not a benefit anymore
  • Even a successful product lifecycle can be less than two years, before innovation is required (again).
  • New innovations can be very complex to bring to market.
  • Breakthrough innovations may face great (technical) challenges and take several years to bring to market.

What is the right approach for innovation in fast moving consumer goods?

From experience SunIdee knows that succesful innovation often is not that far from “base” or the “already known”, as long as you are able to combine consumer insights with your company strengths into new, smart and differentiating propositions.

We have developped a result-oriented and pragmatic approach to put down a category vision that matches new customer and market insights and strengths of your organization or brand in a short time, and translate them into strong product innovations.

There are three important moments to focus on in the innovation process of fast moving consumer goods. We call those three moments 'WHY – BUY – TRY'.
'WHY' is the moment before the consumer buys your product, 'BUY' the buying moment itself and 'TRY' the moment the consumer tries and uses the product and decides if he wants to buy it again or not. This whole process is a cyclical process. Understanding behavior, needs and experience of the customer during these moments provide important clues for succesful innovation.

How can SunIdee Help you?


Identify relevant trends and formulate a category vision.

At this stage we make use of all existing relevant information and research. With the SunIdee TrendWheel we select the most relevant trends and we make clear what these trends mean for your organization. Based on the insights we define a clear category vision.

Generate shopper and consumer insights.

To generate shopper consumer insights, we investigate the "WHY - BUY - TRY' moments:

  • WHY: What are the needs and wishes of the customer? What affects the customer directly and indirectly when he sees your product?
  • BUY: How the customer buys the product? What is his 'shopper mindset? Does he like to go shopping for the product, or does he hate it? Does he urgently need the product or not?
  • TRY: What are the expectations of the client if he uses your product? Are his expectations exceeded or not even met? Does he want to buy your product again?

Create relevant innovative ideas and concepts.

Based on the formulated category vision and shelf vision we will help your team to come up with lots of new and innovative ideas. For the ideation we will use the most suitable tools that are developed by SunIdee. In these tools the gained insights are used as a starting point. The most promising and best-fitted ideas will be worked out in clear concepts.

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