Key thought-starters for food and drink brands and businesses:
Redefine indulgence for cash-strapped customers
The financial difficulties facing many consumers are making moments of indulgence in food and drink more important. Create offers that bundle little luxuries alongside essential items, presenting them as a reward that people deserve rather than something unaffordable or off limits. How can you build loyalty and create feel-good moments amid the financial gloom?
Make sustainability affordable and accessible
With cost proving to be the biggest barrier to shopping sustainably, consider how you can cater to consumer desire to shop in an eco-friendlier way. Initiatives that help reduce food waste can also show the dual benefit of saving customers money. Consider the entire lifecycle of packaging – including where the product is likely to be consumed. How and where could it be recycled or responsibly disposed?
Tap alternative and local supply chains
Amid struggling supply chains and people’s concerns about sustainability, consider tapping into alternative supplies. This could include harnessing solar energy, creating a new product from an invasive species, using an alternative grain, or tapping local producers and urban vertical farms. Could you embrace circularity and use waste as a raw material?
In the face of soaring inflation and fragile supply chains, food and drink businesses have no choice but to adapt. They should focus on the twin pillars of Resources and Resourcefulness in defining future strategies and embracing innovation.
Our team of strategists have developed a wide-ranging set of strategic decision-making tools to help provide future-first solutions for our clients. If you would like to discuss how our Redemptive Diets macrotrend could support future planning for your brand, or if you have any questions about embedding our macrotrends into your business, send us a message at firstname.lastname@example.org. We look forward to accelerating into the future with you.
Strategic foresight is the most valuable tool you can adopt to identify and chart a course for future growth and long-term prosperity. Our strategic services employ this future-first approach.