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From Awareness to Expertise: Building Consumer Knowledge of Your Product

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Building Consumer Knowledge

Capturing consumer attention is only the beginning in the ever-changing world of business. The actual problem is to turn a passing interest in your product into a deep and persistent knowledge of it. This shift from simply knowing about your service to becoming well-versed in its features and benefits may be game-changing for any company. 

1. Lay a Strong Foundation: Know Your Product Inside Out

Before you can expect consumers to become experts in your product, you need to master it yourself. This means understanding every facet of your product, from its features to its benefits and potential applications. This deep knowledge will empower you to communicate effectively and address any questions or concerns from potential customers.

2. Clear and Compelling Communication

To bridge the gap between awareness and expertise, your communication must be crystal clear. Use simple, jargon-free language to describe your product’s features and benefits. Create compelling content that highlights what sets your product apart. Whether it’s through your website, social media, or marketing materials, effective communication is the first step in educating your consumers.

3. Create Informative Content

Educational content is a powerful tool for building consumer expertise. Consider starting a blog, hosting webinars, or even making video tutorials that provide in-depth information about your product. These resources not only educate your audience but also position your brand as a valuable source of information.

4. Harness the Power of Customer Reviews and Testimonials

Peer-to-peer recommendations and reviews can be incredibly influential in building consumer knowledge. Encourage satisfied customers to leave reviews and testimonials. Sharing real-world experiences helps potential customers better understand how your product can solve their problems or meet their needs.

5. Offer Training and Support

Providing training and support materials can be instrumental in helping customers become experts in your product. This might include user guides, FAQs, or even dedicated customer support channels. A well-informed customer is more likely to use your product to its full potential and share their positive experiences with others.

6. Customer Feedback Loops

Listening to your customers and incorporating their feedback can be a valuable source of information for both product improvement and customer education. Continuously seek feedback through surveys, social media, or direct communication. When customers see their suggestions being considered and implemented, they feel a deeper connection to your brand.

7. Loyalty Programs and Exclusive Content

Loyalty programs not only reward customers for their repeat business but also provide opportunities for further education about your products. Offer exclusive content or early access to new features to reward loyal customers and keep them engaged.

8. Demonstrations and Product Experiences

Live demonstrations and hands-on experiences can be incredibly effective in building consumer knowledge. Whether you have a physical product or offer a service, providing opportunities for consumers to see, touch, or experience your offering firsthand can be transformative.

9. Leverage Social Proof

Highlight endorsements and partnerships with influential individuals or organizations. When respected figures vouch for your product, it can significantly boost your credibility and consumers’ trust in your expertise.

10. Evolve and Innovate

The business landscape is in constant flux. To maintain consumer expertise in your product, continue to innovate and evolve. Regular updates, new features, and staying ahead of industry trends will keep your customers engaged and informed.

In the end, the journey from awareness to expertise is a process that requires patience and dedication. By offering clear and compelling communication, educational resources, and excellent support, you can transform casual consumers into well-informed advocates for your product. The result? A loyal customer base that not only buys from you but also helps spread the word about your product’s value and versatility.

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Who’s Who: Steps to Clearly Identify Your Target Demographic

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target demographic

Success in the ever-changing business scene is dependent on a thorough grasp of your target audience. However, in a world where consumers are more diverse and intelligent than ever, how can you identify and engage with your ideal customers? Identifying your target demography is the first step towards building a solid client base, personalizing your products or services, and adopting efficient marketing methods. Let’s get started on identifying your target demographic.

Step 1: Market Research is Key

Start with robust market research. This entails gathering and analyzing data to understand who your customers are, where they live, and what they need. Look at industry reports, conduct surveys, and study competitors in your niche. By examining market trends and customer behavior, you can gain valuable insights into your target demographic.

Step 2: Create Buyer Personas

Once you’ve collected data, it’s time to create detailed buyer personas. A buyer persona is a fictional representation of your ideal customer. It includes demographic information, behaviors, and preferences. By developing these personas, you can humanize your customers, which makes it easier to tailor your offerings to their specific needs.

Step 3: Analyze Existing Customers

Your current customers can provide a wealth of information. Examine your customer database to identify trends and common characteristics among your most loyal clients. What are their demographics? What products or services do they frequently purchase? This data can help you identify your target demographic and develop strategies to attract more customers like them.

Step 4: Segment Your Audience

Your customer base is likely diverse, so it’s important to segment your audience. Group your customers based on shared characteristics, such as age, location, income, and interests. By breaking down your audience into manageable segments, you can customize your marketing efforts for each group.

Step 5: Analyze Competitor Success

Your competitors may have already done the legwork in identifying their target demographic. Study their marketing strategies and customer base to see who they’re successfully attracting. While you shouldn’t copy their strategies outright, this information can help guide your own efforts in reaching similar audiences.

Step 6: Test and Refine

Identifying your target demographic is an ongoing process. Continuously test and refine your approach. Monitor the success of your marketing campaigns, collect feedback from customers, and adapt your strategies as needed. Over time, your understanding of your audience will become more precise, leading to more effective marketing efforts.

Step 7: Keep an Eye on Emerging Trends

The world is in a constant state of change, and consumer preferences evolve. Stay updated on emerging trends, technologies, and cultural shifts that may affect your target demographic. Being agile and adaptable will ensure your business remains relevant and engaging to your audience.

The Power of Knowing Your Target Demographic

Identifying your target demographic isn’t just about honing in on a niche market; it’s about building stronger connections with your customers. By understanding their needs and preferences, you can deliver products or services that truly resonate. This not only fosters customer loyalty but also helps your business thrive in a competitive marketplace.

Recognizing and connecting with your target demographic is a foundational step for any business. It’s the difference between casting a wide net and hitting a bullseye with your marketing efforts. By conducting thorough research, creating detailed buyer personas, and continuously refining your approach, you’ll be well-equipped to engage, satisfy, and grow your customer base.

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Niche Gastronomy: Customizing Your Food Brand’s Approach for Targeted Audiences

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Target Audience

Gone are the days when generic menus and one-size-fits-all culinary offerings reigned supreme. Consumers today are more discerning and health-conscious than ever, and they crave unique, tailored dining experiences. Niche gastronomy is the art of specializing and customizing your food brand’s approach to cater to these specific tastes and preferences.

This approach involves understanding the unique needs, desires, and cultural backgrounds of your target audience and crafting menus, recipes, and food experiences that resonate with them. Whether it’s gluten-free, vegan, farm-to-table, or a particular regional cuisine, niche gastronomy allows food brands to connect with consumers on a more profound level.

The Power of Personalization

Personalization is the cornerstone of niche gastronomy. By gathering insights about their target audience, food brands can create menus that cater to specific dietary requirements and culinary preferences. This not only drives customer loyalty but also attracts new patrons who value having their unique tastes recognized and satisfied.

For instance, a high-end restaurant specializing in molecular gastronomy might attract a niche audience of adventurous foodies who appreciate the artistry behind their dishes. On the other hand, a fast-casual eatery focusing on locally-sourced ingredients and organic options could target health-conscious consumers looking for environmentally responsible choices.

The Benefits of Going Niche
  • Enhanced Customer Loyalty: By delivering precisely what your target audience desires, you’re more likely to establish a loyal customer base that keeps coming back for more. This helps to build brand recognition and long-term success.
  • Effective Marketing: Niche gastronomy provides a natural focal point for your marketing efforts. By catering to a specific audience, you can develop tailored marketing campaigns that speak directly to your potential customers.
  • Reduced Competition: Specializing in a niche area can mean less competition in the marketplace. When you own a unique culinary space, you’re less likely to face direct competition from mainstream, generic food brands.
  • Higher Profit Margins: Catering to a specific audience often allows for higher price points. Customers are willing to pay more for food that aligns with their values and preferences.
Real-World Success Stories

Several food brands have achieved remarkable success by embracing niche gastronomy. Here are a few examples:

  1. Vegan and Plant-Based Delights: Brands like Beyond Meat and Impossible Foods have transformed the way consumers view plant-based foods. By targeting health-conscious and environmentally-minded consumers, they’ve achieved widespread acclaim and significant market share.
  2. Gluten-Free Goodness: Udi’s Gluten-Free, a brand dedicated to producing gluten-free bread and baked goods, has created a dedicated following among individuals with gluten sensitivities.
  3. Farm-to-Table Excellence: Restaurants like Chez Panisse in Berkeley, California, have capitalized on the farm-to-table movement, focusing on locally-sourced, seasonal ingredients that resonate with eco-conscious diners.
Embracing the Niche Gastronomy Revolution

In the modern food landscape, customization and niche gastronomy are no longer mere trends but essential strategies for success. Consumers are more discerning, health-conscious, and culture-aware than ever before. By understanding your target audience and personalizing your culinary offerings, you can create a thriving food brand that caters to the unique tastes and preferences of your audience.

As the food industry continues to evolve, brands that embrace niche gastronomy will be at the forefront of this gastronomic revolution, leading the way towards a more diverse, flavorful, and personalized dining experience for all.

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Creating Roadmaps of Experience: A Guide to Customer Journey Mapping

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Customer Journey

Understanding and optimizing the customer experience is critical in today’s highly competitive corporate world. The customer journey map is an excellent tool that has gained popularity in recent years. These visual depictions of a customer’s engagement with a brand may give essential insights and assist organizations in creating more meaningful and engaging experiences.

A customer journey map is a visual representation of a customer’s interactions with a brand across various touchpoints and channels. It’s designed to capture the customer’s perspective, emotions, and pain points throughout their journey. Here’s why it’s so powerful:

  • Empathy: It allows businesses to step into the shoes of their customers, gaining a deeper understanding of their needs, desires, and frustrations.
  • Alignment: It aligns cross-functional teams, ensuring that everyone in the organization is focused on delivering a cohesive and exceptional customer experience.
  • Identification of Pain Points: It highlights pain points and bottlenecks in the customer journey, enabling businesses to address them proactively.
  • Opportunity Spotting: It uncovers opportunities for innovation and improvement, helping companies stay ahead in a competitive market.
Creating a Customer Journey Map
  • Define the Customer Persona: Start by defining the customer persona or segment you want to map the journey for. Understand their goals, needs, and pain points.
  • Identify Touchpoints: List all the touchpoints where the customer interacts with your brand. These can include social media, website, emails, customer service, and more.
  • Map the Journey: Create a visual representation of the customer’s journey, from the initial awareness stage to post-purchase. Use a timeline format, and include emotions, actions, and pain points at each stage.
  • Gather Data: Collect data from customer surveys, interviews, feedback, and analytics to inform your map. Qualitative and quantitative data provide a comprehensive view.
  • Empathy Mapping: Consider the customer’s emotions, thoughts, and motivations at each touchpoint. What are they feeling, and why?
  • Identify Pain Points: Highlight areas where customers encounter friction, frustration, or dissatisfaction. These are opportunities for improvement.
  • Opportunity Mapping: Identify areas where you can enhance the customer experience or add value. Look for moments of delight or potential upselling.
  • Cross-Functional Collaboration: Involve teams from various departments, such as marketing, sales, customer support, and product development, to ensure a holistic view of the journey.
Applying Customer Journey Insights
  • Enhance Touchpoints: Based on the insights gained, make improvements to specific touchpoints to reduce friction and improve the overall experience.
  • Personalization: Use the data to personalize interactions and tailor messaging to meet individual customer needs.
  • Innovation: Identify opportunities for innovation and the development of new products or services that address customer pain points.
  • Training and Culture: Train employees to understand and empathize with the customer journey. Foster a culture of customer-centricity within the organization.
Success Stories in Customer Journey Mapping
  1. Disney: Disney’s theme parks are known for their exceptional customer experiences. They use journey mapping to understand the visitor experience and make continuous improvements.
  2. Airbnb: Airbnb created detailed journey maps to understand the host and guest experiences, leading to enhancements in their platform and services.
  3. Starbucks: Starbucks employs journey mapping to improve the in-store and mobile app experiences, ensuring seamless interactions for their customers.

Creating roadmaps of experience through customer journey mapping is a strategic imperative for businesses that want to stay competitive in the modern landscape. By gaining a deeper understanding of the customer’s perspective, identifying pain points, and uncovering opportunities for improvement and innovation, companies can not only enhance the customer experience but also foster loyalty and long-term success. It’s a journey worth embarking on for any business aiming to create meaningful and lasting connections with its customers.

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Tur and chana dal becomes more affordable: Prices fall 4% in a month

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dal
Pulses (Representative Image)

Over the course of a single month, a rise in imports of arhar/tur from Africa and masoor from Canada, coupled with the government’s stringent measures on stock limits and proactive sales of chana, have collectively contributed to a 4% reduction in pulse prices. This decline was further exacerbated by diminished consumer demand resulting from elevated price levels.

According to a report by the Indian Pulses and Grains Association (IPGA), the wholesale price of tur/arhar dal, which stands as the costliest pulse in the market, has fallen by 4% in the last month. This decline can be attributed to the central government’s imposition of stock limits on traders and processors.

The cost of chana dal, presently the most affordable pulse option in the market, has dropped by 4% within a single month, and masoor prices have also eased by over 2% due to increased imports and diminished demand.

As per IPGA’s analysis, tur prices are projected to face continued downward pressure in the upcoming week due to subdued demand and the expected influx of supply from Africa.

Chana dal prices are poised to decline even further, with the National Agricultural Cooperative Marketing Federation (Nafed), a government agency, actively selling it at reduced rates.

“Chana prices continued to fall in October due to surge in supply of chana at affordable rates, competitive tenders by Nafed and popularity of Bharat Dal,” IPGA said in a report.

Nonetheless, industry leaders believe that any uptick in festival demand could result in a modest uptick in pulse prices.

In the vegetables section, tomatoes, which had surged to over INR 150 per kilogram in the retail market in July, are currently available for INR 10-20 per kilogram.

Market insiders have indicated that tomatoes have consistently been priced at INR 3-6 per kilogram in the wholesale markets for over a month, and this pattern is expected to persist for the next 2-3 weeks.

At the Pimpalgaon APMC in Nashik, where they are currently receiving more than 250,000 crates of tomatoes daily, each crate weighing 20 kg, the prices are within the range of INR 3-6/kg.

“Farmers had planted more tomatoes due to record high prices in July. Dry weather reduced damages to the delicate crop, which has substantially increased the production in Nashik,” said Sanjay Londe, secretary of Pimpalgaon APMC.

According to traders, a potential rise in tomato prices may occur as arrivals from other significant cultivation areas, such as Bengaluru, start to diminish.

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Ninjacart aims for INR 2,500 Crore revenue in FY24 with expanding marketplace for farmers and traders

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Ninjacart
Ninjacart (Representative Image)

Over the past year, Ninjacart, a supply chain startup specializing in fresh produce, backed by Tiger Global and Flipkart, has broadened its operations to create a marketplace for farmers and traders. This expansion also includes facilitating access to financial services for these stakeholders, as stated by its chief executive.

Nonetheless, its “traditional” fulfillment business, which directly links farmers with retailers and wholesalers, bypassing intermediaries and aggregators, is set to remain the primary revenue driver for the company, accounting for 60-70% of the total, as disclosed by Kartheeswaran KK in an interview.

“Earlier, a farmer only knew five buyers or aggregators and could only negotiate with them… but through the platform, they have access to many more buyers, and if they come and place bets, the farmers start getting better prices. That is how we expected the marketplace platform to help (farmers),” said Kartheeswaran.

Ninjacart has set its sights on achieving revenue exceeding INR 2,500 crore in the fiscal year 2024, a significant increase from the approximately INR 1,212.5 crore it generated in the preceding fiscal year ending in March 2023, according to the statement by its CEO. Notably, the Bengaluru-based company has not yet submitted its financial statements for FY23 to the Registrar of Companies.

At present, approximately 50% of the business is operating profitably, and the CEO anticipates this percentage will increase to 80% by the year’s end. He further forecasted that the company would achieve a net profit by the conclusion of fiscal 2026.

“We realised it makes sense to expand our offerings to stakeholders across the value chain, for example farm aggregators, traders, and larger wholesalers. Earlier we used to bypass them, but now we have started co-creating along with them,” he said.

Kartheeswaran has been at the helm of the company in the absence of cofounder Thirukumaran Nagarajan, who previously served as its CEO but took a medical sabbatical. The other cofounders include Ashutosh Vikram, Sachin Jose, Vasudevan Chinnathambi, and Sharath Loganathan.

The company currently operates in 70 locations and has plans to expand to 200 cities and towns within the next year, as stated by the CEO. It derives one-third of its business from each of the northern, western, and southern regions of the country.

In addition to collaborating with a multitude of individual retailers, Ninjacart has established partnerships with e-commerce giants like Flipkart and quick-commerce companies such as Instamart to deliver fresh produce and essential items. Furthermore, for its financing marketplace, the company has joined forces with financial institutions such as IDFC First Bank and Mintifi Finserve.

The CEO anticipates that “non-fresh” grocery items such as rice and pulses will represent approximately 50% of the company’s sales volumes by the year’s end, in contrast to the 30% recorded the previous year. The remaining 50% will continue to consist of fresh fruits and vegetables.

In December 2021, Ninjacart secured $145 million in its last funding round, valuing the company at approximately $800 million. Notable investors, including Walmart, Flipkart, and Accel, participated in this round. As per Tracxn data, Tiger Global holds a 19% stake in the firm, while Flipkart owns 12.7%, and Accel holds a 15.3% stake.

Kartheeswaran stated that with 60% of the total funds it raised still in reserve, Ninjacart will have a runway of three-and-a-half years by the end of this year.

The company operates an affiliate called Ninjacart Global, which serves as a bridge connecting exporters and importers. Additionally, Ninjacart is engaged in partnerships with enterprises in other emerging markets, such as its collaboration with Arado, an agriculture marketplace based in Brazil.

“We are providing them with our entire tech stack and expertise instead of selling the product as a SaaS (software-as-a-service), and in return, we have picked up a stake in the firm,” Kartheeswaran said.

The company is in talks with a number of other firms in emerging markets for similar collaborations, he said, adding, “Our systems are built for unorganised markets like Brazil, Indonesia, the Philippines and so on, so we’re focused on them as opposed to developed markets like the US.”

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Iconic Goan eatery ‘The Coconut Boy’ brings authentic coastal cuisine to Mumbai’s Bandra

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The Coconut Boy
The Coconut Boy

The Coconut Boy, an iconic Goan eatery, is now welcoming guests in the vibrant neighborhood of Bandra, Mumbai.

At the core of Coconut Boy are Hitesh Keswani, chef Rohan D’Souza, and Praveena D’Souza, a trio known for their successful culinary ventures in Goa. Building on their previous achievements, they’re now embarking on a fresh journey with Coconut Boy, ready to infuse the essence of Goan cuisine and the lively coastal spirit into the heart of Mumbai.

Leveraging his profound Goan heritage and culinary expertise, D’Souza has meticulously crafted the menu at ‘The Coconut Boy.’ This culinary repertoire epitomizes the authentic flavors of traditional Goan cuisine, featuring delights ranging from grilled squid brimming with crab stuffing to Chicken Cutlets paired with a Kokum Relish, and fresh coconut-infused Clams. Vegetarian options, such as Local Vegetable Vindaloo and Mushroom & Vegetables Slow Cooked Xacuti Masala, are also woven into this diverse tapestry. The menu doesn’t stop there; it delves into a realm of signature cocktails, including the tropical allure of the Coconut Caipirinha and the classic Pina Colada, offering patrons a journey to the sunny beaches of Goa. By utilizing locally sourced ingredients like kokum and tender coconut, Chef Rohan’s menu not only brings the finest of Goan flavors but also encapsulates the carefree spirit of Goan vacations, right in the heart of Mumbai.

“We’re thrilled to bring the true flavors of Goa to Bandra West,” says the team behind The Coconut Boy, “Our aim is to transport our guests to the lively streets and beautiful beaches of Goa through the food we serve, the cocktails we create, and the atmosphere we curate. We want ‘The Coconut Boy’ to be the go-to destination for those seeking an authentic Goan experience right here in Mumbai.”

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Costa Coffee celebrates 150th store opening in New Delhi, signals ongoing expansion in India

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Costa Coffee

Costa Coffee, a coffee brand owned by Coca-Cola in India’s commercial beverage industry, recently announced the opening of its 150th store in Rajouri Garden, New Delhi.

In 2005, Costa Coffee made its entry into the Indian market by opening its very first café in Connaught Place, New Delhi, marking the start of its journey in India.

Over the last year, Costa Coffee partnered with Devyani International for a significant expansion effort in India, bringing about the establishment of approximately 60 new stores.

The brand’s continuous goal is to set up additional outlets in the key 8-10 cities across India, placing specific emphasis on specialized venues like airports, highways, and healthcare facilities.

India’s coffee industry is in the midst of an intriguing evolution, marked by an increasing emphasis on specialty coffee and premium offerings. This transformation is notably driven by urban millennials who have turned coffee shops into lively social hubs.

This transition is especially remarkable in a country that has traditionally been linked to tea culture.

The 150th Costa Coffee establishment serves as a testament to Costa Coffee’s commitment to providing artisanal coffee created from locally sourced ingredients.

“India is a key market for us globally and we are proud to commemorate the opening of our 150th store. This milestone truly highlights the overwhelming love and support we have received from coffee enthusiasts across India. Our aim is to extend our presence to every corner of the nation, and we remain committed to achieving this vision through our continuous expansion efforts, ensuring remarkable coffee experiences for all.” said, Vinay Nair, General Manager, India & Emerging Markets, Costa Coffee.

Costa Coffee presents a varied menu that showcases an array of unique coffee concoctions, including well-loved options like the Flat White, Classic Corto, Café Caramela, and others, all made with locally-sourced coffee beans.

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PepsiCo CEO downplays concerns over GLP-1 drugs’ impact on food industry as company raises earnings projection

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PepsiCo CEO Ramon Laguarta
PepsiCo CEO Ramon Laguarta (File Photo)

PepsiCo CEO Ramon Laguarta brushed off growing worries about the potential effects of GLP-1 drugs on the food industry during discussions on October 10th.

This coincides with the company revising its annual earnings projection upwards, even amidst declining volumes in the third quarter.

The CEO characterized the influence of appetite-suppressing drugs as “insignificant” in relation to PepsiCo’s operations during a discussion with analysts and investors after the release of the company’s third-quarter results.

He said, “Overall, if you take global consumption, there are obviously a lot of question marks with regards to the obesity drugs when it comes to medical testing or scalability of the usage of this or what is the impact really on consumer choices. So, a lot of question marks.”

GLP-1s like semaglutide, available under brand names such as Novo Nordisk’s Ozempic and Eli Lilly’s Mounjaro, were originally designed for the treatment of type 2 diabetes but are now being prescribed for weight loss.

Laguarta talked about how PepsiCo has observed “enduring favorable trends” that outweigh any potential impact from GLP-1 drugs, yet the company, which owns brands like Lays and Quaker Oats, maintains a “robust strategy” for “portfolio transformation” in case these trends shift.

In the wake of the earnings announcement, the company emphasized portion-control packaging, sugar-free beverages, and wholesome food options in their official statements.

“Everything we’ve been doing for the last five, six years when it comes to reducing sodium, reducing fat, reducing sugar, reducing the portions of our products, adding some new cooking methods to our snacks, those are all very positive trends that will help us pivot the portfolio if needed in the future. We’ll continue to do it. Obviously, it’s one of our key strategic pillars,” the CEO stated.

He added, “Our portfolio strategy, we think, is very solid when it comes to a potential protection against some of these future developments five, ten years from now.”

The increasing utilization of GLP-1 drugs in the United States for appetite suppression and subsequent weight loss is raising concerns among investors in the food and beverage industry.

As stated by Trevor Stirling, a managing director at AllianceBernstein and an analyst specializing in the beverage alcohol market for the US bank, the monthly administration of doses for Ozempic, Wegovy, and a third brand, Mounjaro, has reached approximately 11 million and is on the rise.

He further notes that this level of treatment suggests that roughly 2.4 million individuals, constituting slightly less than 1% of American adults aged 18 and over, are presently utilizing these medications.

The stock prices of certain food and beverage companies listed in the United States did experience a decline last week following statements from Walmart. Walmart mentioned that it had noticed an influence on the food shopping behaviors of individuals using medications like Ozempic and Wegovy.

“We definitely do see a slight change compared to the total population, we do see a slight pullback in [the] overall basket,” John Furner, the CEP of Walmart’s US business, told Bloomberg. “Just less units, slightly less calories.”

Over the past few days, high-ranking executives from American food producers have been questioned about the potential impact of the increasing demand for these drugs on their businesses, both during earnings calls and in media interviews. Their response has been that, at present, they are maintaining a vigilant stance and would adjust their product strategies as necessary.

“If we end up seeing changes in consumer eating patterns – let’s say they go to smaller portions – then we evolve the innovations and we design smaller portions. If they switch to different types of nutrients, we evolve the innovation, we switch to different types of nutrients. If they change the kind of pack sizes they snack on, we’ll change that,” Conagra Brands CEO Sean Connolly said when the company reported its first-quarter results last week. “So this is the kind of stuff that will happen over five, ten, 15 years, not over the next six months.”

On October 10th, PepsiCo saw a premarket trading surge of more than 2% following its announcement of earnings at $2.25 per share on an adjusted basis, surpassing the projected $2.15 and exceeding analysts’ expectations.

The company’s favorable outcomes were propelled by ongoing price hikes, despite a 2.5% decline in organic volume for the quarter. Within its snacks portfolio, volume slumped by 1.5%, and its Latin America convenient foods business experienced a 5% decrease in volume. It’s worth noting that the company does not disclose the volume results for its individual brands.

When inquired about overall volumes and whether consumers are showing a preference for smaller packaging, Laguarta outlined two significant factors the company is actively striving to optimize.

“One is consumer interaction with our brands. And the proxy we’re using for that is units or specific purchasing act. And then the other one is obviously margin for the overall business. And those are the two variables that we’re maximising. In both cases, units are growing much faster than volume.

“You mentioned consumers moving to smaller packs. We’re also, in a way, facilitating that through our pricing and mix strategy. Then we’re obviously optimising margin that, as you saw, it was a good improvement in our margin across the company.”

Nevertheless, PepsiCo raised its forecast core earnings per share growth to 13% at constant currencies this fiscal year, up from a prior estimate of 12%. Its organic revenue growth forecast remains unchanged at 10%.

The group also gave unusually early guidance for its fiscal 2024 – organic revenue growth of 4-6% and EPS growth in high single digits.

Lauren Lieberman, a Barclays analyst covering PepsiCo, wrote that a “beat and raise” was unexpected, “let alone the very early and constructive commentary on 2024 expectations”.

She said, “To us, results in aggregate speak to the increasing balance in the business model across US and non-US markets, and we see this as also supporting the company’s confidence in discussing the high-end of the long-term algorithm for next year.”

PepsiCo’s net revenue rose 8.9% year-on-year to $23.45bn for the three-month period, while operating profit jumped to $4.02bn.

The Frito-Lay North America unit reported a 7% jump in organic revenue to $5.95bn increase while volumes fell marginally. Quaker Foods North America increased to $747m.

Meanwhile, Latin America revenue – which includes food and beverages – was up 21% to $3.05bn and Europe up 2% to $3.7bn.

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delishUp’s food trends report reveals the renaissance of home cooking and AI integration in Indian kitchens

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Food Trends Report
Food Trends Report (Representative Image)

Home cooking, once considered a diminishing skill, is experiencing a renaissance. In response to this culinary resurgence, upliance.ai, an innovative home appliance startup, has introduced its AI Cooking Assistant, delishUp, and is delighted to present its comprehensive debut food trends report. This report embarks on a flavorful journey through the evolving tastes of young Indian households, enriched by meticulously curated, data-driven insights.

Drawn from a comprehensive dataset spanning 3,000 households and more than 15,000 cooking sessions on delishUp in 11 cities, the report unveils compelling discoveries that provide captivating insights into the continually evolving culinary choices of the nation. While it confirms certain assumptions, it also challenges stereotypes, weaving a multifaceted fabric of tastes and preferences.

Approximately 80 percent of delishUp users belong to the male demographic, with a predominant representation in the 25-40 age bracket. This user base has enthusiastically embraced home cooking and is exploring various culinary realms.

Surprisingly, even though 51 percent of users identify as non-vegetarians, a remarkable 85 percent of households on delishUp opt for vegetarian meals, primarily driven by perceived challenges in handling meat. Beloved vegetarian dishes like Veg Pulao and Kadai Paneer consistently hold sway over the taste preferences of users.

In contrast to the common belief that South Indians primarily favor rice-based dishes, chapati dough surprisingly stands out as a leading recipe, accounting for 3.5 percent of cooking sessions on delishUp.

Roughly 40 percent of users express a wish for healthier eating, yet fewer than 10 percent consistently integrate wholesome alternatives into their cooking routines on delishUp.

Young Indian households are broadening the variety of their homemade meals, with 40 percent showing a preference for Indian cuisine, 20 percent for Continental dishes, 20 percent for Italian fare, and the remaining 20 percent delving into beverages, soups, salads, and Asian recipes.

India, a country often associated with a predominantly vegetarian diet, reveals a more varied culinary panorama. Roughly 51 percent of homeowners proudly identify as non-vegetarians. Nonetheless, numerous novice cooks are drawn to vegetarian dishes due to the perceived challenges of working with meat, leading to 85 percent of households on delishUp preparing vegetarian meals. Traditional favorites like Veg Pulao and Kadai Paneer continue to enjoy immense popularity, with other classics such as Poha and Rasam also earning widespread acclaim.

Challenging the misconception that South Indians solely prefer rice-based meals, chapati dough emerges as a frequent choice, comprising 3.5 percent of meals prepared on delishUp. Conversely, North and West Indian users are increasingly drawn to South Indian delicacies like Upma, Lemon Rice, Bangalore-style Sambar, and Cabbage Pachadi. In the South, an exploration of dishes like Gujarati Kadhi, Mumbai-style Pav Bhaji, Rice Kheer, Surti Cold Coco, and more reflects cross-regional culinary curiosity.

AI has smoothly become an integral part of everyday life, including the culinary domain. Historically, venturing into new dishes has presented challenges in terms of locating suitable recipes, mastering techniques, and acquiring the necessary ingredients. However, thanks to delishUp’s ChefGPT feature, even those new to cooking can now confidently explore fresh recipes at home. This advancement has given rise to inventive creations like Mexican-inspired beer concoctions, the clever Rotli nu Shaak that ingeniously repurposes leftover roti, and the delightful Ada Pradhaman, a beloved dessert from Kerala, all making their way into the modern kitchen.

While street food holds a special place in Indian culinary tradition, it remains a compelling influence on home kitchens nationwide. Data from DelishUp demonstrates that timeless favorites such as Pav Bhaji and Bhel are frequently prepared in households rather than being ordered or consumed outside. In addition to these classics, unconventional dishes like Bread Paneer Poha, Beetroot Rasam, Pudina Palak Khichdi, Creamy Peanut Noodles, Beetroot Halwa, and Chicken Tagine are steadily gaining popularity, signaling a growing inclination to embrace diverse flavors and engage in culinary experimentation at home, particularly when convenience is a priority.

In a world that’s increasingly health-conscious, it’s worth noting that while 40 percent of individuals express a desire for healthier eating habits, fewer than 10 percent consistently incorporate these practices into their daily cooking routines. This highlights the ongoing challenge of balancing the aspiration for health-consciousness with the allure of comfort food in meal preparation.

Furthermore, there’s a widespread yearning for restaurant-style cuisine, with nearly 500 individuals expressing the wish to recreate their favorite restaurant dishes at home. This desire spans across various culinary traditions, with 40 percent favoring Indian cuisine, 20 percent leaning towards Continental fare, 20 percent opting for Italian flavors, and the remaining portion exploring a diverse range, including chaats and Asian dishes. This aligns with the aspiration to make “outside food” healthier by preparing it at home.

A remarkable 80 percent of delishUp users fall into the male demographic, predominantly aged between 25 and 40, with many of them setting out on their culinary adventures for the first time. The perception of cooking as a complex and labor-intensive task, involving intricate recipes and culinary skills, has undergone a transformation thanks to modern kitchen appliances. The convenience offered by these devices has empowered individuals, especially men who might have previously been intimidated by traditional cooking methods. Their attraction to cooking technology and the convenience it affords has nurtured a greater sense of independence in the kitchen, motivating them to explore a wide range of dishes and broaden their culinary horizons.

In the rich tapestry of Indian cuisine, timeless classics such as Poha, Pulao, and Kadai Paneer hold a special place in the hearts and palates of the nation. Mornings kick off with quick delights like Poha and Upma, while dinners embrace the comforting embrace of Chapatis paired with an assortment of sabzis, including Kadai Paneer and Aloo Tamatar Sabzi. Lunchtime offers variety but frequently includes rice-based dishes like Veg Pulao and Sambar. For dessert, the all-time favorite Rice Kheer reigns supreme, with Vermicelli Payasam adding a delightful Southern twist.

In the world of non-vegetarian cuisine, Butter Chicken takes the throne, delighting enthusiasts from all corners of the country. These culinary trends exemplify the enduring affection for traditional flavors and the harmonious fusion of regional and national tastes within Indian cuisine.

In the ever-changing culinary scene of India, this research provides invaluable insights into the recent changes in food preferences throughout the nation. As home cooking undergoes a revival, the accessibility of kitchen appliances that simplify the cooking process is democratizing culinary experiences and enabling young Indian households to enjoy a broader and more adventurous range of homemade meals.

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