Using consumer preference in company development
Analysing what motivates people in their food and drink choices is a useful tool when approaching product development. Mike Hughes presents research into current consumer preferences, highlighting where companies must focus in order to gain market trust and ultimate success.
Consumers are making greater attempts to improve their health, spurred by fears about disease and a desire to stay fit and active for as long as possible. This means that they are paying attention to the ingredients used in food and drink products. In short, consumers are making conscious efforts to avoid ingredients deemed detrimental to their health and are seeking products containing ingredients that offer a convenient health boost.
This knowledge about consumer behaviour creates opportunity for food and drink companies. However, it is not enough for products to be free-from or to contain certain ingredients; the way that such information is communicated is also of vital importance when it comes to a product’s success.
Consumers across the globe are taking a more proactive approach to health maintenance and improvement. For younger adults, this is being driven by concerns about current lifestyles leading to the threat of illness later in life. In comparison, older consumers are motivated by the desire for a good quality of life for as long as possible and to minimise the risk of illness. In Q3 2019, market intelligence firm, FMCG Gurus, conducted a survey of 20,000 consumers across 20 countries and found that 61 percent of consumers have looked to improve their health over the last 12 months.