Home Food FMCG brands need to reevaluate and revitalise their portfolios, now. Here’s how

FMCG brands need to reevaluate and revitalise their portfolios, now. Here’s how

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FMCG brands need to reevaluate and revitalise their portfolios, now. Here’s how

It’s become a cliché to say that coronavirus has changed everything, but it has. Danone’s CEO recently said that the pandemic will polarise the food sector​, essentially eroding the middle market; he predicts that demand will fall between high-end choices and cheaper, budget items, with very little in-between. 

While this might sound drastic, it’s fittingly drastic for our times – and FMCG brands have equally drastic decisions to make. People have shopped differently, and for different kinds of products, as they saw their lives upended during the pandemic. Much of that behaviour change is set to stay.

This has led to huge changes in the ranges stocked by retailers, with a knock-on effect to brand portfolios. FMCG brands are asking themselves: what products should stay, which ones need to go, which require a refresh or repositioning to fit in with new consumer behaviour, and what NPD needs to happen?

There are too many variables for guesswork, which is why neuroscience should be the calling-card for brands looking to navigate the dramatic changes determining how, why and what people shop. It’s a fast-track to test how consumers perceive a brand’s new product idea; or a new look and feel, with fresh messaging and identity on-pack; or it can help assess how a product compares with the competition.

Neuroscience can support portfolio shift – without rocking the boat

Perhaps you want to put a focus on scratch cooking ingredients, or how to feed hungry kids several times a day – the products that meet these criteria may need to be refreshed for this new kind of consumer demand. Something that was once appropriate and on-brand might be deemed a bit ‘off’ now, and neuroscience can assess how people feel about a revamped product concept or identity, even down to colours and words.