Top insight take-outs from the Category Management Conference
The Happen innovation team recently attended the Category Management Conference. Held in London’s Covent Garden, the 1-day event brought together the good and the great of category management teams from brands such as Graze, Premier Foods and Weetabix to name but a few. The conference included category insight and retail activation topics with speakers touching on everything from ‘how to write the best category strategy’ to ‘how to engage and excite your buyers for success’.
Our top take-outs from the day include:
The Brexit-Trump Effect:
Without wanting to dive straight into politics (don’t fear, you can keep reading) Brexit and Trump were referenced by many speakers throughout the day. The big take-out; if there is one thing that can be learnt from both situations it is that consumers are looking for simple, single-minded propositions which are simple to understand. Consumers want to cut through the noise and complexity and make simple, single-minded decisions, and this is true not just in politics but within their everyday purchase decisions.
Shoppers spend more than just money when in store:
Any good category vision should have the needs, wants and frustrations of the shopper and consumer at its heart. If the consumer isn’t winning then no-one is, that is the truth. So, it’s important that FMCG innovators and category managers remember that people spend more than just money in-store. They spend 3 things; money, time, and angst – if you are not delivering a solution which minimises all 3 of these things then the shopper doesn’t win.
Never has it been more important than now to have a product that looks great. The rise of social sharing is not going away anytime fast, and a good social sharing platform for your product can be more powerful than any marketing strategy when executed in the right way.
Talk Insight Not Data:
Throughout the day, there were multiple discussions about the best ways of engaging and standing out with your buyers. The one consistent answer to this was to focus on great shopper and consumer insight NOT on the big data points. Buyers have a good understanding of the category they are working in, so tell the consumer/ shopper story in an exciting and different way (not too much PPT) rather than drowning in the numbers.
For more information about how we can help you develop a great innovation story to engage the retailers and make your product stand out from the crowd get in touch.