Sustainability, green credentials and “better for you” are some of top trends that are seeing a rise in popularity among shoppers, claims a recent report, suggesting retailers and store owners should stock more such products and drive ‘premiumisation’ in store.
As per NielsenIQ BASES Breakthrough Innovation Report, which celebrates its 10th anniversary this year, the UK is one of the most innovative markets across Europe, accounting for 60 percent of Europe’s top breakthrough innovations.
The report highlights focus on sustainability, with products boasting green credentials, whether from an ethical or environmental standpoint. Stocking such products presents an opportunity for retailers to drive "premiumisation" in store, said the report, with 67 per cent of this year’s winners offering premium benefits – whether it was from the product itself or the packaging.
Products that tapped into the “better for you” trend also saw success, with Innocent Plus offering functional health benefits, and other manufacturers catering to the demand for ‘healthier indulgence’, such as Magnum Vegan ice cream. This trend has also been mirrored in pet food and has driven interest in products such as Butcher’s Tripe Loaf and Whiskas Pure Delight, said the report.
“It is worth noting that when you go back to the first report launched 10 years ago, trends such as ‘shopping locally’, sustainability and convenience were the ‘ones to watch’. While these trends still exist, a number of these are gradually crystallising into the standout theme of mindful living. In fact, over half of the winners this year have at least one mindful living claim, versus only about one quarter in 2019,” Celine Grena, European BASES leader, said.
The report also highlighted some incredibly well-executed beverage product launches within the winners, such as Starbucks for Nespresso, as well as Costa Coffee’s RTD range. With an activation strategy initially focused on commuter points, Costa demonstrated an agile approach as the Covid-19 pandemic hit and swiftly pivoted their marketing plans towards working-from-home.
Grena added that consumers today are more aware and informed than ever so they expect much more from their products - whether that’s health benefits, sustainability, locality or convenience – and consumers are willing to pay a premium to get it.
“Looking at this year’s winners, they’ve built their success through syncing their innovation strategy with their in-market activation. The most successful activation strategies leverage multiple trade and media touchpoints to address the full breadth of their potential consumers. As sustainability and health trends continue to drive buying habits, the retailers that can tap into these opportunities by stocking quality innovations in store will be set for success,” Grena said.
Some of the UK winners include J.J. Whitley Artisanal Russian Vodka, Innocent Plus, This Isn’t, Magnum Vegan, Cadbury Darkmilk, Pringles Rice Fusion, Butcher’s Tripe Loaf, Sensodyne Sensitivity & Gum and Febreze Bathroom Air Freshner.
