As millennials gain significant buying power in Europe, understanding their shopping trends is crucial for businesses. Millennials prioritize experiences over goods, value convenience, and are influenced by social media and sustainability. Companies must adapt to these evolving needs to remain competitive.

Client’s Background

A Central European consumer goods company sought to revitalize stagnant growth by targeting millennials.

Challenges

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    Evolving Consumer Interests
    Millennials are increasingly interested in plant-based diets, organic options, and superfoods, requiring companies to adapt their product offerings to meet these changing preferences.
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    Rising Competition
    The European market is becoming more competitive, with companies needing to differentiate themselves through innovative products and marketing strategies.
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    Product Relevance
    Ensuring that products align with millennial values such as sustainability and health is crucial for maintaining market relevance.
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    Innovation Process
    Developing an efficient innovation process that places consumer needs at its core is essential for staying competitive.
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    Market Insights
    Gathering accurate insights into global consumer trends and food cultures is vital for product development.

Solutions

Market Research: Conducting ethnographic studies and surveys to understand evolving consumer preferences and trends, such as the shift towards plant-based diets.

Product Development Strategy: Implementing a structured approach to new product development, focusing on health-centric and sustainable offerings.

Consumer-Centric Innovation: Placing consumer needs and preferences at the center of product development to ensure relevance and appeal.

Health-Centric Overhaul: Introducing organic and plant-based options across various product categories to cater to the growing demand for healthier alternatives.

Collaboration with Experts: Partnering with Infiniti Research to leverage their expertise in new product development and market analysis.

Business Impact

Enhanced Sales

Achieving a significant increase in sales by aligning products with millennial preferences, such as a reported 33% increase in sales rate.

Reputation Boost

Strengthening the company's reputation as a modern and resilient food brand by embracing sustainable and health-focused product lines.

Product Diversification

Successfully launching new products that cater to millennial interests, including organic and plant-based options.

Market Leadership

Positioning the company as a leader in the evolving European food market by embracing trends like clean labeling and sustainability.

Consumer Engagement

Enhancing consumer engagement through products that resonate with millennial values, leading to increased brand loyalty and advocacy

Conclusion

Infiniti Research helped a Central European consumer goods company revitalize its market presence by developing products tailored to millennial preferences, leading to significant sales growth and enhanced brand reputation.