DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/79prt6/quality) has announced the addition of Canadean Ltd's new report "Quality, Indulgence and Premiumization Strategies in Food - Defending Against Margin Erosion" to their offering.
Consumers worldwide are trading down and discounting is becoming more prevalent hurting the profit margins of many manufacturers. Quality Indulgence and Premiumization Strategies in Food - Defending Against Market Erosion provides a comprehensive overview and strategic analysis of how brands can effectively defend their profits despite the emergence of value competitors. The report focuses on the strategy of premiumization to encourage consumers to trade-up in terms of both price and quality. The growing popularity of private label alternatives is also addressed - and what brands can learn from them and ultimately defend themselves against discounters by offering consumers the highest quality and drive sales.
- The global financial crisis has affected consumer spending and despite economic improvement across much of Europe and the US consumers have not reverted to previous spending habits. Manufacturers must consider the austerity needs of these consumers by providing value not solely in terms of low cost but also to trade-up for quality.
- Taste and indulgence will continue to drive consumption across Food categories and manufacturers should ensure that their products offer consumers the best overall experience. Consumers are unwilling to sacrifice taste for other concerns such as health re-enforcing the need to offer products that offer uncompromised moments of pleasure and indulgence particularly in Non-BRIC countries.
- Consumers particularly in BRIC countries are increasingly seeking products that offer assurances of quality and manufacturers should respond by ensuring transparency in terms of sourcing production and ingredients to drive sales as the desire for authentic and trustworthy products increases.
- Many consumers no longer view private labels as cheap lower-quality imitations of branded products instead perceiving them to be of an equal and sometimes higher quality. Branded manufacturers can defend against the growing popularity of private labels by accelerating innovation or to corner a niche market which holds no attraction to private labels. In addition the growing premiumization of private label offers means that making private label products could improve the profitability of some manufacturers.
Key Topics Covered:
- Introduction and Overview
- Market Context
- Trading-Up Opportunities
- Responding to Evolving Consumer Needs - Austerity
- Responding to Evolving Consumer Needs - Taste and Indulgence
- Authenticity Strategies in Food
- Premiumization in Private Label - Opportunities and Defense
- Recommended Actions
- Ben and Jerrys
- Bolthouse Farms
- Dunkin' Donuts
- Huy Fong Foods Inc.
- Jenny Craig
- Johnnie Walker
- New York Soup Co
- Woodlands Organic Farm
For more information visit http://www.researchandmarkets.com/research/79prt6/quality
Source: Canadean Ltd