Four Ways Beverage Brands Can Innovate
The expert analysts monitor global launches of some of the most innovative and interesting products across all beverage categories. We identify why specific products were chosen as innovative, divide them into broad themes, and assemble those products along with consumer, product, and market data, to put the innovation in perspective.
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Photo by Shayna Douglas on Unsplash
Check out these four ways brands can be innovative when targeting their consumers:
1. Formulation
Health benefits appear across all beverage subcategories, with unique claims and ingredients appearing.
Consumers feel more in control of their health
As the pandemic has progressed, consumers are feeling more in control of their health, which is very good news. The data also shows they are more focused on their health and wellbeing (all aspects of it), which contributes to that greater sense of control. Some examples include:
2. Environment
Companies and brands continue to find new ways to “do the right thing” and to communicate their actions to consumers.
Consumers want brands to be clear on their environmental impact
Consumers want to know what companies and brands are doing to be good to the environment. They are seeking clear, concise explanations of programs, impact, and certifications.
3. Blurring
Hard seltzer, sparkling coffee, tea and juice, “water with benefits”–there seems to be no end in sight to what can be merged together.
Consumers are interested in trying a wide range of hybrid drinks. But keep in mind about a quarter of consumers are not interested at all.
4. Flavor
When creating truly unusual flavors, companies should position them to Millennials. Two new product introductions seem to have done exactly that.
Millennials the key target for flavor experimentation. Coca-Cola has created Starlight and Byte flavors to attract younger consumers, allowing them to determine exactly what that flavor is. While Reign’s energy drink says it is “Reignbow sherbet” flavored, it’s unclear exactly what that flavor is, aside from just being really sweet.
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