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Data-Driven Discovery: Identifying Your Ideal Customer through Analytics

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SnackTeam
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Analytics

The concept of identifying and understanding your ideal customer has transcended intuition, evolving into a strategic dance with analytics. In the realm of data-driven discovery, businesses embark on a transformative journey, unraveling the layers of information to sculpt a vivid portrait of their most valuable clientele. Data-driven discovery is akin to conducting a symphony, where each data point contributes a unique note to the composition. From demographic details to online behavior and purchase patterns, businesses tap into a myriad of sources to paint a comprehensive picture of their audience. This symphony of data points forms the foundation for identifying the ideal customer.

At the heart of data-driven discovery lies the indispensable tool – analytics. Analytics serve as the conductor’s baton, orchestrating the disparate data points into a harmonious melody. From simple spreadsheets to advanced machine learning algorithms, businesses leverage analytics to distill insights, identify patterns, and unearth the characteristics that define their ideal customer.

Gone are the days of one-size-fits-all marketing. Data-driven discovery allows businesses to segment their audience with surgical precision. By categorizing customers based on shared traits, preferences, and behaviors, businesses can tailor their strategies, ensuring that each segment receives messaging that resonates with their specific needs. One of the jewels in the crown of data-driven discovery is behavioral insights. Analyzing how customers interact with a brand, navigate websites, and respond to marketing campaigns unveils the unspoken language of preferences. Businesses can then align their strategies to cater to these nuances, creating a more personalized and compelling customer experience.

The magic wand of data-driven discovery is predictive modeling. By analyzing historical data, businesses can develop models that forecast future behaviors and trends. This allows them to anticipate customer needs, tailor offerings, and stay one step ahead in the ever-evolving dance of consumer preferences. Social listening tools enable businesses to eavesdrop on the digital chatter, gaining insights into customer sentiments, preferences, and even pain points. This real-time feedback loop informs strategies and ensures businesses stay agile in responding to evolving customer expectations.

Crafting Personas: Humanizing Data

Personas are the bridge that humanizes data. By creating detailed personas based on data-driven insights, businesses transform abstract statistics into relatable characters. These personas serve as touchstones, guiding marketing strategies and ensuring that every campaign speaks directly to the heart of the ideal customer.

Further, data-driven discovery is not a destination but a continuous journey of refinement. Businesses must embrace an iterative approach, consistently analyzing new data, reassessing customer profiles, and adjusting strategies accordingly. The landscape of consumer behavior is dynamic, and the ideal customer is an ever-evolving entity. Respecting customer privacy, ensuring data security, and adhering to ethical data practices are non-negotiable aspects of data-driven discovery. Building trust with customers is as crucial as unveiling insights from their data.

The art and science of data-driven discovery are transformative forces that propel businesses toward a deeper understanding of their ideal customer. From the symphony of data points to the crucial role of analytics and the humanization of data through personas, this journey is a dynamic and intricate exploration. As businesses continue to embrace the power of data, the ideal customer becomes not just a target audience but a dynamic entity with evolving preferences, needs, and aspirations.

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Personalized Palates: Using Niche Marketing to Connect on a Deeper Level

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SnackTeam
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Niche Marketing

Niche marketing, particularly in the realm of personalized palates, is the key to forging authentic connections that resonate beyond mere transactions. Let’s delve into the delectable world where niche marketing meets individual tastes, creating a symphony of flavors tailored to the unique palates of discerning consumers. Personalized palates are a mosaic of individual tastes, influenced by cultural backgrounds, dietary preferences, and unique flavor affinities. Niche marketing embraces the diversity within this mosaic, recognizing that there’s no one-size-fits-all approach when it comes to culinary preferences.

Firstly, it’s important to understand that niche marketing is more than just identifying a target audience; it’s about understanding the intricacies that make each segment unique. In the realm of personalized palates, this means recognizing the nuances of flavor profiles, culinary traditions, and the specific needs that drive individual food choices. Niche marketing allows brands to tailor their offerings, whether through personalized menus, unique flavor combinations, or catering to specific dietary requirements, creating a culinary journey that resonates on a personal level.

Cultural Nuances: A Gateway to Authentic Connections

Niche marketing involves not only recognizing these nuances but celebrating them. Brands that authentically embrace and incorporate cultural diversity into their culinary offerings connect with audiences on a deeper, more meaningful level.

As dietary preferences evolve, niche marketing becomes a compass for navigating the landscape of specialty diets. Whether catering to plant-based eaters, gluten-free aficionados, or those with specific nutritional requirements, tailoring marketing efforts to address these niches establishes a brand as attentive and responsive to individual needs.

Apart from that, niche marketing for personalized palates extends beyond taste buds; it’s about crafting holistic culinary experiences. Experiential marketing immerses consumers in a journey, whether through virtual tastings, interactive events, or behind-the-scenes glimpses, creating a connection that goes beyond the plate. Sharing the stories behind ingredients, culinary traditions, and the journey of a dish creates an emotional connection. Brands that weave compelling narratives around their offerings resonate with audiences on a personal and relatable level. Social media, food blogs, and specialized forums become the terrain where brands can engage with specific audiences, share tailored content, and build communities around unique flavor experiences.

Further, niche marketing fosters the creation of culinary tribes – communities bound by shared tastes and preferences. Brands that actively facilitate and participate in these communities not only build brand loyalty but become integral parts of the cultural tapestry shaping personalized palates.

The synergy between personalized palates and niche marketing is a culinary dance that goes beyond selling food; it’s about creating connections that resonate on a deeply personal level. From understanding cultural nuances to navigating the landscape of specialty diets, the art of niche marketing in the world of personalized palates is an ongoing exploration that transforms dining into a bespoke experience. As brands continue to embrace the diverse tastes of their audiences, the culinary landscape becomes a canvas for authentic connections and flavorful stories that celebrate the richness of individual palates.

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Pizza Punks gears up for major expansion, bags FRP support for new ventures

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SnackTeam
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Pizza Punks

Pizza Punks intends to launch four additional restaurants in 2024 and has enlisted the support of FRP Corporate Finance to aid in securing capital.

According to The Herald’s report, the brand envisions the opportunity to build a robust business across the UK, with plans to expand to Edinburgh, Manchester, Cardiff, and Birmingham in 2024.

Pizza Punks also has plans to establish itself in four additional prominent university cities.

Established in 2015 by Brad Stevens, Pizza Punks provides a diverse selection of pizzas complemented by its distinctive punk-themed interior designs for an enjoyable dining experience.

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Australian supermarket titans Coles and Woolworths defend pricing amid parliamentary inquiry

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SnackTeam
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grocery shopping
(Representative Image)

Coles and Woolworths, the two leading supermarket chains in Australia, have asserted the validity of their pricing approaches following the announcement that the country’s parliament will conduct an inquiry into allegations of price-gouging or profiteering, as claimed by a major political party.

Coles indicated that its inflation rate has been consistently decreasing, especially in crucial staple categories, while Woolworths emphasized its commitment to providing savings for its customers.

On December 4th, it was disclosed that a Senate-led investigation will scrutinize the involvement of the country’s two major grocery chains during a period of inflation characterized by rapidly increasing food expenses.

The Greens party in Australia, set to spearhead the inquiry, stated that it will thoroughly examine the influence of market concentration on food prices and analyze the patterns of pricing strategies employed by the supermarket duopoly.

The comprehensive review, backed by bipartisan support, will additionally evaluate the surge in prices for essential items, assess the legitimacy of provided discounts, and scrutinize the “inflation of profits during economic hardship.”

Greens economic justice spokesperson Senator Nick McKim said, “Coles and Woolworths are making billions in profits by price-gouging in a cost-of-living crisis.”

“For too long the big supermarkets have had too much market power. This allows them to dictate prices and terms that are hitting people hard. It’s time to smash the duopoly.”

However, when questioned about their stance on the inquiry, Coles and Woolworths both dismissed the allegations of profiteering.

A Coles spokesperson said, “Having a profitable business means Coles can continue to serve Australians, invest in our stores, employ the 120,000 team members we employ, pay taxes in Australia, pay dividends to our hundreds of thousands of mum and dad shareholders and ensure long-term sustainable relationships with our suppliers.

“It also puts us in a position to invest in value like Great Value Hands Down, thousands of weekly specials, our Flybuys programme for our customers to save and have confidence they can buy good food in our supermarkets.

“Coles is also not immune to the increased cost of doing business – construction costs, energy prices, the cost of logistics and packaging have all risen. Our suppliers are also challenged with many of the same increases and, rightly so, we have experienced a greater volume of supplier price increase requests which we have to balance.”

A Woolworths spokesperson said: “We know Australians are feeling the strain of cost of living and we are working to deliver relief in their weekly grocery shop.

“As we start to see the rate of inflation ease, we will continue to focus on delivering savings to our customers.

“We are committed to offering our customers value while working with our suppliers to sensitively manage economy-wide inflationary pressures.”

The Greens’ initiative is among several government inquiries addressing issues related to the cost of living and pricing in Australia.

In accordance with its terms of reference, the inquiry will examine the pricing practices and market influence of major supermarkets. It will investigate the impact of market concentration on the pricing of food and groceries, as well as analyze the patterns of price-setting employed by the two major supermarket chains.

The probe will also look at rising supermarket profits, the increase in the prices of essential items and the prevalence of “opportunistic pricing, price mark-ups and discounts that aren’t discounts”.

The supermarkets will also face scrutiny on the contribution of own-brand products to their market position, the use of technology and automation to “extract cost-savings” from consumers and employees and any potential improvements that could be made to the regulatory framework to deliver lower prices for food and other groceries.

It will also look at frameworks to protect suppliers when interacting with the major retailers.

Coles and Woolworths control about two-thirds of the Australian grocery market, while the German discounter Aldi has a share of just over 10%.

In October, it was announced food price rises had eased in Australia in the third quarter. They increased by 0.6% during the period, marking the softest quarterly rise since September 2021.

But in the 12 months to September, food and non-alcoholic beverage prices rose 4.8%, up from the rise of 4.4% in August.

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Premiumization trend to fuel India’s soaring liquor industry, Crisil Report reveals

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SnackTeam
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alcohol brands
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India’s liquor industry is poised for a noteworthy fiscal upturn, with a projected revenue surge of 12-13 percent in the current financial year, reaching INR 4.45 lakh crore. This optimistic outlook is attributed to robust demand and an emphasis on premiumization, as highlighted in a recent report by Crisil.

Last fiscal year witnessed a growth of 15-16 percent in the industry.

“The growth will be driven by a rebound in tourism and hotel industries, rising disposable incomes and premiumisation trend,” said Rahul Guha, director, Crisil Ratings.

He mentioned that the premium segment, defined by bottles priced at over INR 1,000 per 750 ml, is projected to expand by more than 20 percent. In contrast, the price-sensitive mass consumer segment, encompassing liquors priced below INR 700 per 750 ml bottle, is anticipated to witness a volume growth ranging between 5-7 percent.

The liquor industry drives about 65-70 per cent of its revenues from distillers who make IMFL and the remaining 25-30 per cent from brewers, that is beer production. Jayashree Nandakumar, director, Crisil Ratings commented, “Brewers will see an expansion of 250 bps, while distillers will witness 70-80 bps improvement this fiscal.”

“Overall, the industry will toast a blended 100-150 bps expansion in operating profitability this fiscal,” she added.

The report emphasized that the operating profitability of players will see advantages not only from the expanded revenue base but also from the easing of input costs, including Extra Neutral Alcohol (ENA), barley, and packaging costs.

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Stovekraft bolsters market presence, unveils first Pigeon brand outlet in North India

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SnackTeam
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Stovekraft

In a strategic maneuver to meet the increasing demand for elevated in-store shopping experiences, Stovekraft Limited, a distinguished name in innovative cookware, kitchenware appliances, and consumer lighting, has launched its flagship exclusive Pigeon Brand Outlet in Mayur Vihar, New Delhi. This marks the company’s debut in exclusive retail stores in the North Indian market, with intentions to set up five additional outlets across the Delhi-NCR region in the next quarter.

Encompassing an area of 610 square feet, the dedicated Pigeon brand outlet in Delhi represents a crucial move in Stovekraft’s effort to broaden its footprint in North India, reinforcing its market position across the country. Currently, the company manages more than 124 exclusive retail outlets across Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, and Telangana.

Rajendra Gandhi, MD of Stovekraft said, “At Stovekraft, our mission is to bring high-quality kitchen appliances to the masses. We believe in providing products that enhance the culinary experience of every household. With the opening of our first store in North India, we are excited to continue our journey of offering reliable and innovative solutions to our customers.”

The recently opened Stovekraft outlet in Delhi exemplifies the company’s commitment to delivering high-quality kitchen appliances and exceptional customer service. Offering a diverse array of products such as gas stoves, chimneys, pressure cookers, cookware, and various small domestic appliances, Stovekraft remains at the forefront of setting new standards in the kitchen appliances industry.

Mayank Gupta, Chief Growth Officer at Stovekraft said, “The opening of our 125th store in Delhi is a moment of pride for Stovekraft. We are thrilled to bring our innovative and reliable kitchen appliances to the discerning consumers of North India. This marks the beginning of our expansion plan in the region, and we aim to open approximately 5 more stores in the Delhi NCR region within the next 30 days.”

Stovekraft affirms its objective to achieve a total of 150 stores by the end of December 2023 and aims to open another 150 stores in 2024.

Dr. M Nanda, Chief Marketing Officer of Stovekraft said, “Our physical stores provide an immersive experience, enhancing brand visibility, trust, and loyalty. We are confident that our retail expansion will significantly contribute to the elevation of the Stovekraft brand.”

As Stovekraft undertakes its expansion in North India, the company recognizes the favorable reception it has garnered from customers in South India. Encouraged by this enthusiastic support, Stovekraft is driven to broaden its presence, committed to delivering consistently reliable and high-quality kitchen appliances that elevate the culinary experiences of households. The company anticipates extending its legacy of excellence to the new store in Delhi and beyond, persisting in innovation, enhancement, and catering to the diverse needs of its valued customers.

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Deliveroo experiences 33% jump in order value amid return to office trend in Hong Kong

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SnackTeam
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Deliveroo

Deliveroo saw a 33% surge in average order value during the last 10 months of 2023. This boost was fueled by businesses in Hong Kong, which actively brought their staff back to the office through the initiation of group meal orders.

As per Deliveroo’s data, both companies and employees are eager to enjoy the advantages of returning to in-person work following a period of remote work. With offices gradually filling up once more, an increasing number of businesses are opting for food delivery services to provide convenient and diverse catering solutions, ranging from grand in-office festive celebrations to everyday lunches with colleagues.

The information was gathered through Deliveroo’s Deliveroo for Work (DfW) program, which serves as the aggregator’s adaptable solution for work-related meals, team benefits, and catered events tailored for corporate clients.

Deliveroo discovered that finance, consultancy, legal, and technology firms in the bustling business districts of Hong Kong remain the primary contributors to DfW revenue. Among them, offices situated in Sheung Wan, Central, Admiralty, Wan Chai, and Quarry Bay place the highest number of orders, and those on Hong Kong Island consistently outspend their counterparts in Kowloon.

Among Hong Kong workers, Asian cuisine maintains its dominance, with Japanese, Chinese, and Korean food securing top positions in terms of order preferences.

Ordering preferences differ across industries, with consultancy firms favoring on-the-go bakery items such as coffee, pastries, and juice, while law firms lean towards more polished and healthy options like Japanese and Vietnamese bentos.

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E&J Gallo set to expand US distribution of Lotte Chilsung’s Korean beverage, Soju

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SnackTeam
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Soju

E&J Gallo aims to broaden the market reach of Lotte Chilsung Beverage Co.’s soju in the United States by taking on the distribution, seeking to introduce the beverage into a wider range of mainstream channels.

Soju, a Korean alcoholic beverage, is commonly crafted from tapioca, sweet potato, rice, wheat, or barley, and typically possesses an average alcohol by volume (ABV) of approximately 20%.

Soonhari, Chum Churum, and Saero, the soju brands from Lotte Chilsung, are currently sold in specialized Asian retailers in the United States. On December 4, Spirit of Gallo, the spirits division of E&J Gallo, announced its intention to broaden distribution to include all other channels. The distribution agreement between the two companies is set to commence next month.

Britt West, the general manager for Spirit of Gallo, said the soju category was at a “pivotal” moment in the US.

Without citing the source of the data, he added, “The soju category doubled in the US over the past five years, driven by accelerating consumer demand.

“The newest generation of drinkers has been driving the growth and is turning over the soju category due to its variety, convenience, and accessible price point.

“We are entering the category at a pivotal moment with the strongest partner, and we look forward to capitalising on this opportunity.”

According to Spirit of Gallo, Lotte Chilsung Beverage Co. is the second-largest manufacturer of soju globally, and soju holds the position of being the largest spirits category worldwide in terms of volume.

Lotte Chilsung Beverage Co., a division of Lotte Group, manufactures a diverse range of over 100 beverages, encompassing soju, beer, whiskey, fruit wine, and rice wine. With six manufacturing facilities, the company extends its exports to more than 70 countries.

Kyungdong Kim, president of US subsidiary Lotte Beverage America Corp., said, “We are excited to partner with Spirit of Gallo to leverage their distribution network and go-to-market capabilities to bring soju closer to more consumers and take the category and the Lotte Chilsung brands to new heights.”

In September, Spirit of Gallo collaborated with Mexican boxer Saúl “Canelo” Álvarez and the Mexican spirit company Casa Lumbre to introduce a line of Tequila Ready-to-Drink (RTD) beverages in the United States. The initial rollout of the products will focus on “select markets with substantial Mexican-American populations,” as stated by Spirit of Gallo.

Last year, E&J Gallo established Spirit of Gallo as a specialized umbrella business unit dedicated to its spirits operations.

In July last year, the wine giant made a noteworthy announcement with a “strategic investment” in Horse Soldier Bourbon, signifying its first venture into the U.S. whiskey market.

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Chinese tea brand Heytea makes Malaysian debut with first store in Kuala Lumpur

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SnackTeam
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Heytea

Heytea, a Chinese tea brand, has opened its first store in Malaysia.

The brand launched its outlet on December 1st, situated at The Exchange TRX in downtown Kuala Lumpur.

Heytea asserts itself as the originator of Cheese tea, crafting its beverages with fresh fruits, authentic tea leaves, and high-quality milk.

Covering more than 80 square meters in the central area of Level C within The Exchange TRX at Tun Razak Exchange, Malaysia’s first international financial and commercial center, the store is situated less than 2km from the iconic Petronas Towers.

The brand will present a selection of four main options, comprising Seasonal Inspirations, Refreshing Real Fruit Teas, REAL Dairy Milk Teas, and Refreshing Finest Teas. Among the timeless Heytea flavors are Very Grape Cheese (Original), Very Grape Crystal (Original), Mango Grapefruit Sago, Roasted Brown Bobo Milk (Original), Strawberry Mulberry Black, and Regal Aqua Green Jasmine Cheese (Original). Prices for these offerings range from MYR9.90 ($2.12) to MYR17.90 ($3.84).

Heytea boasts a network of more than 1,000 establishments in China and has expanded to four locations in Singapore. Earlier this year, the brand marked its entry into the UK with the opening of its inaugural outlet.

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Soul Origin and KitKat woo chocoholics with a trio of delicious new drinks

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SnackTeam
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Soul Origin

Soul Origin is launching a trio of new beverages in partnership with the renowned chocolate brand, KitKat.

The initial beverage in the trio is the Classic Choc Iced Blend, featuring a luscious chocolate taste harmonized with the crispiness of KitKat pieces. It is finished with a dollop of whipped cream and a sprinkle of chocolate. The second option is the Choc Caramel Ice Blend, crafted with Soul Origin’s distinctive chocolate and caramel sauces, adorned with whipped cream, chocolate sprinkles, and crushed KitKat.

Finally, there’s the Choc Mint Ice Blend. This refreshing beverage combines Soul Origin’s distinctive Chocolate Sauce, Peppermint, and the classic KitKat Original.

Last year, the brand joined forces for a collaboration, unveiling the limited edition Soul Origin Iced Crushers collection.

In addition to the latest beverage offerings, from December 8 to 15, all Soul Origin loyalty members have the opportunity to enjoy a KitKat-infused Iced Blend for just $5.

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