Mintel Reports - Tangible Application
Part 1 of 2
If you are in interested in consumer goods you've very likely heard of Mintel; the world’s leading market intelligence agency, with multiple offices on five continents. Clearly an organization with global reach - these offices coordinate thousands of local shoppers, who independently gather data and analysis on packages as they exist in stores every day. Ever vigilant and attentive to the market - the Mintel operation adds more than 1,000 products a day, more than 33,000 products every month to the "Global New Product Database." In-depth analysis of brand, product, package, graphics, messaging, ingredients, channel, position, and 72 more data points are part of the first level review.
The Mintel machine works at a productive tempo faster than 1 new product every 90 seconds - all day and all night - and that's just the gathering of raw data. Then there's the analysis; a true test of big data comprehension, racked and stacked - sliced and diced, with weather satellite perspectives ranging from the 40,000 foot market view to the 4 foot planogram deep dive for a single SKU - all with the same degrees, minutes, and seconds position coordinates of said satellite. Impressive, in-action and constantly improving for over 40 years the Mintel approach is a influential and inspirational. Now how can you use it?
A great way to start is with the recent "Mintel Global Food and Drink Trends 2017" [LINK] - click the image above, fill out the form, and download the free 22 page report - which will walk you through the Mintel research approach and will explain the relevance of all images above and titles below:
- In Tradition We trust
- Power to the Plants
- Waste Not
- Time is of the Essence
- The Night Shift
- Balancing the Scales: Health for Everyone
Now that you've learned something it's up to you to apply it to your special place in the world. With an understanding on how the consumer is engaging with the market today - you are better prepared to initiate and effect your own product ideas - both new and improved. Brand origins to communicate, trust to establish, enhancements in quality, fusions in taste, refinements in packaging for utility and presentation, tiers in pricing, and competitive positioning - all favorable fields for plowing as you move into next iteration of capturing and retaining consumer interest and fulfilment.