AGRANA Fruit has recently published its latest trendblog which focuses on Conscious spending – and the impact of rising prices on household budgets. This article also deep dives into how food & beverage brands can react to these increased pressures through their product developments.
On the one hand, the challenge for manufacturers will be to keep consumers loyal to their brand while they are adapting their shopping habits to reduced available income. On the other, there are opportunities to position products with the right value for money.
With the credo ‘don’t confuse value with low cost’ in mind, there are several possibilities to position premium products well with consumers: value through added functionality or additional benefits such as the product being particularly healthy, natural, sustainable, or high quality. Also, on the indulgent side of things, there are opportunities to create affordable yet intriguing ‘escape moments’ for consumers.
Said Stephan Büttner, CEO, AGRANA Fruit: “Also in challenging times like those we currently live in, we see opportunities for the industry to tailor food & drink products to get ahead of competition by adding the benefits which consumers are looking for. With our longstanding expertise in tailoring products to local consumer preferences and changing needs, we can support our partners in positioning their products to withstand inflationary pressures.” For more visit the latest trend blog on conscious spending.