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Glocalization is a Must in Today’s Supplement Industry
We live in wild times! With an internet connection, credit card, and a few clicks of your mouse, you can create a global retail distribution point and create marketing that has global reach. To be honest, we take for granted just how easy it is to go from idea to a multinational functional CPG brand. We’re living in the golden era of CPG entrepreneurship because of these borderless ecommerce and social media platforms. It’s VERY important though to not misconstrue that ease for believing a one-size-fits-all commercialization strategy is acceptable. Globalization is at a crossroads. Connecting to the global economy stimulates competition and innovation and gives access to other markets. While it has reshaped global economies, it also came at a cost to our environment and our communities. Being a multinational functional CPG shouldn’t mean you seek parity globally. A better balance between global and local, so-called glocalization, would offer a better mix of both worlds. Global template…local adaptations.
Hidden Growth Drivers of “Energy Everything” Explosion
Consumer interest in caffeine has never been higher with a collection of recent surveys stating on average three-fourths of American adults consume caffeine daily. While coffee has been powering Americans before America was even a thing, more recently consumers are increasingly grabbing some of the other “energy everything” product categories. It makes sense, right? We live in the “Age of the Endless Aisle,” where there are more options in every CPG category than during any other point in history. It’s that proliferation of caffeine-containing products and them being well-entrenched into the lives of most Americans that's causing “energy everything” to become a certified consumer movement. Whether hitting the gym, staying at the top of your game during busy workweeks, or simply preparing for weekend activities, consumers continue to reach for energy drinks and energy supplement that are packed with caffeine and oftentimes nootropic ingredients to provide a physical and mental boost. But are there evolving sociological patterns that could be driving the massive growth of energy and nootropic products?
Rise & Fall of CPG Industry SPACs
Special-purpose acquisition companies (SPACs) experienced a phenomenal rise and fall in 2020 and early 2021. The frenzy fizzled out because of intensified regulatory scrutiny and changing market dynamics but does that mean SPACs are gone forever in the CPG industry?
Biggest Functional Food & Beverage Trends in 2023
What do I see in my crystal ball this year for the Top 5 Functional Food and Beverage Trends: 3 Rs Effect (Reshoring, Regenerative Agriculture, and Recycled), Algae (Inside & Surrounding the Product), Confidentially Functional Effect (Affordability & Private Label), Mental Health (from Management to Escapism), and Old to New Technology...It's All Disruptive (Precision Fermentation & AI).
Concept Explained: “Energy Everything”
Did you know three-fourths of American adults consume caffeine daily? Whether it’s drinking a cup of coffee in the morning, turning to an energy drink midday to stay sharp at work, or mixing up a pre-workout powder before hitting the gym, caffeinated products have become an integral part of daily life. It’s that proliferation of caffeine-containing products and them being well-entrenched into the lives of most Americans that's causing the “energy everything” movement…
Remixed: The Story of CPG Product Innovation
In today’s business world, it’s hard to come up with an original thought. Once you acknowledge that, you start seeing things through a remix-filled point of view. The secret behind current innovations at CPG brands like Quest Nutrition and Snickers are that they’re rooted in remixing the past…their own past, well before most of its fans today knew about the original product offerings.
Don’t Let Gen Z Disrupt Your Supplement Brand Strategy
It’s critical that supplement brands recognize these generational differences and meet Gen Z where they are in the customer journey. Remember to make the shopping experience as effortless, quick, and convenient as possible. Don’t hide behind the corporate vail, as researching brands is a key part of Gen Z consumerism…so social proof is king. It’s time for functional CPG brands to finally start talking in a language Gen Z will understand and appreciate.