Local is hot. Local brands are sought after. Take your ideas to the next level and make your brand known. The food industry is changing drastically due to several factors. For example, societal trends in the way consumers make purchases, the kinds of purchases they make. Not to mention the ever evolving relationship of trust. Finally, couple those trends with the rise of digital media and you have a new psychographic to work with.
Local Growth Outpacing National Brands
The millennial cohort has sparked more interest in food than ever before. That demographic is focusing on the transparency of food and locally-grown foods. This trend has created growth within the smaller food industry. Millennials are emphasizing a trust in producers and where they source their ingredients. With a local or regional brand, consumers feel like they know what they are getting in a product.
Consumers no longer want to be unsure of the products they are buying with big companies. Staying fresh and true are key to success in this growing shift. Larger food brands are no longer the most popular choices for consumers and retailers. Consumers are beginning to question the freshness of large manufacturers compared to locally grown products.
Retailers have joined the trend and are becoming open to small businesses and manufacturers because of their drive for creativity and flexibility. Retailers are finding it easier to work with small companies because they are more accepting of change, rather than bigger manufacturers who are staying static in their previous ways and not adapting to the food industry shift.
According to an industry study in 2015, Deloitte found that smaller and private food brand manufacturers grew more rapidly (4.0 percent growth), than the 25 biggest U.S. food and beverage manufacturers (1.0 percent growth) between 2009 and 2013. These numbers suggest that smaller companies are progressively doing better in the market.
Build Your Local Brand with a Digital Presence
The use of digital media has also become a prevalent platform for marketing products due to the rising use among millennials and its ability to reach consumers and retailers on a personal level. Social media usage for promotion and brand awareness are becoming a crucial element in selling a product because of the shift in media usage by consumers.
Ultimately, why should you get ambitious with your brand? Simple. Because it’s possible. To learn more about what the retail food buyer is looking for in supplier partner, read this book: Moving Your Brand Up the Food Chain by NewPoint’s Patrick Nycz, or contact NewPoint today to get your spot on the shelf.