Nestlé has broadened its selection of plant-based items by introducing shelf-stable products in Chile under the Maggi Veg label.
Included in this lineup is Nestlé’s inaugural shelf-stable plant-based minced meat option.
Nestlé’s recent offerings feature options that blend vegan “mincemeat” with flavorful seasonings, suitable for creating dishes such as tacos, empanadas, or spaghetti bolognese, along with a lentil-based soup.
These plant-based meat alternatives are crafted from soy and bear the “certified vegan” label.
“We continue launching plant-based products in many regions of the world to offer people tasty, nutritious alternatives to meat that they can enjoy with family and friends,” Torsten Pohl, Nestlé’s global head of R&D, said.
“Our new shelf-stable range also makes plant-based alternatives more accessible to a wider range of consumers in Chile. This makes them a delicious, excellent source of protein in many favourite recipes, for breakfast, lunch, or dinner.”
Nestlé currently offers refrigerated and frozen meat substitutes. Nonetheless, earlier this year, the company withdrew its Garden Gourmet meatless and Wunda alternative dairy brands from the retail market in the UK and Ireland. This strategic move aimed to prioritize its essential product range.
The brands were introduced in 2021. Garden Gourmet featured plant-based burgers, minced meat, and sausages, whereas Wunda offered a milk alternative derived from peas.
Nestlé has kept Garden Gourmet available for the UK’s foodservice sector and for distribution in various other European nations. Additionally, the company provides plant-based choices in the realms of beverages and confectionery.
In June of this year, Nestlé’s Israeli food division, Tivall, joined forces with More Foods, a vegan meat analogues producer based in Tel Aviv.
The exact nature of the partnership is unclear, although, in a joint statement, Tivall and More Foods said they would “create a portfolio of innovative, pumpkin seed, meaty products for main meals”.
The Swiss enterprise has also recently piloted ready-to-heat, shelf-stable plant-based meal kits in China that feature local recipes like Mala Xiang Guo and Curry Chicken.
Diageo has introduced a non-alcoholic option for its Captain Morgan Spiced Gold rum, marking the inaugural addition of a dark spirit to the company’s collection of alcohol-free products.
Over the course of two years, Diageo’s innovation team has meticulously developed Captain Morgan Spiced Gold 0.0%, skillfully layering flavors that commence with indulgent hints of caramel, molasses, vanilla, and comforting brown spices.
Samori Gambrah, global brand director at Captain Morgan, commented, “With a resurgence of rum as a drink of choice and the global alcohol-free spirit market set to increase, Captain Morgan 0.0% is perfectly placed to not only meet growing demand but also give those looking to moderate their consumption a new alternative”.
Amanda Brown, liquid scientist at Diageo, added, “It’s been an exciting journey working on Diageo’s first alcohol-free dark spirit. When creating Captain Morgan 0.0%, we went through more than 400 recipes before we were able to capture the iconic rum and spice flavour of Captain Morgan Original Spiced Gold, but without the alcohol. Captain Morgan 0.0% has been created by layering flavours that deliver the complexity and depth that consumers know and love.”
The debut release is scheduled for September in the United Kingdom, followed by Estonia, Lithuania, and Latvia later this year. The expansion will continue across Europe in 2024. In the UK, Captain Morgan Spiced Gold 0.0% will soon grace the shelves of Waitrose, Morrisons, Sainsbury’s, Tesco, and other stores, priced at £15 as the recommended retail price.
The CEO of the supermarket chain Les Mousquetaires indicated on Wednesday that retail prices in France are unlikely to experience a significant decline until March. This statement aligns with a cautionary message from a competing group, which pointed out that French consumers are reducing their spending due to the elevated cost of living.
Thierry Cotillard, leading a group with over 3,000 stores in France, is one of the retail executives scheduled to meet with Finance Minister Bruno Le Maire on Wednesday. The agenda of the meeting revolves around deliberations on strategies to reduce prices.
Prior to the scheduled meeting, Cotillard conveyed to RTL radio that French shoppers had curtailed their supermarket purchases by approximately 5% in terms of quantities. They were also showing reduced interest in purchasing fresh items such as fish and meat. Cotillard further remarked that he foresees no positive changes in the overall pricing scenario until March.
“We are seeing more falls in the prices of raw materials than rises, we had oil and wheat and now paper. Retailers are passing on those falls to consumers with their own private label brands, but the law does not force national brands to renegotiate their prices. Some are playing ball but others don’t.”
The CEO of the French retail giant Carrefour issued a cautionary statement on Tuesday, highlighting that elevated prices have compelled consumers to make substantial reductions in their expenditures on essential commodities. The CEO also advocated for a postponement of a proposed law that seeks to limit the extent of promotional offers retailers can provide.
While Europe’s inflationary impact is subsiding, France is experiencing a milder decline in prices compared to numerous other countries. This divergence can be attributed to a notable rise in food-related inflation since March, following the annual price negotiations between retailers and producers.
The government is keen to steer food inflation, which surpassed the overall French inflation rate of 5.1% in July, toward a downward trajectory. There’s a sense of caution, as these elevated levels could potentially weaken the delicate state of consumer confidence.
Brown-Forman, the maker of Jack Daniel’s, experienced a quarterly earnings disappointment on Wednesday. This was primarily due to elevated input costs and lackluster demand for their more premium whiskey offerings like Woodford Reserve and Gentleman Jack in the U.S.
The company’s shares dipped by up to 6%, hitting a two-month nadir, because its first-quarter net sales also slightly missed the predictions set by analysts.
The spirits manufacturer faced the impact of elevated input expenses, encompassing agave, grains, and wood, all while shipment volumes in the United States dropped due to wholesalers reducing their inventories.
Not accounting for exceptional items, Brown-Forman generated earnings of 48 cents per share, falling short of the projected profit of 53 cents per share, according to data from Refinitiv.
During the quarter, advertising expenditures witnessed a 19% increase, and overall costs rose by 14%, compounded by the challenges posed by a challenging labor market.
Confronted with supply chain disruptions and elevated input costs that reached their pinnacle in the previous fiscal year, the company implemented a year-on-year price hike of 2% to 3% on its spirits.
During a post-earnings call, Brown-Forman attributed a 90-basis-point increase in gross margin for the quarter to a 250-basis-point advantage resulting from increased pricing, along with a reduction in supply-chain expenses.
In the quarter under review, distributor inventories, which represent the stock held by wholesalers, witnessed an 11% decrease in the United States. This reduction played a role in the company’s net sales in the country declining by 8%.
In the quarter, its net sales experienced a 3% increase, reaching $1.04 billion, slightly below the average estimate of analysts at $1.05 billion.
However, Brown-Forman restated its yearly objective of achieving organic net sales growth within the range of 5% to 7%. The company also expressed anticipation that demand patterns will return to a more balanced state following two years of robust expansion.
Swiggy, a major player in the food tech industry, is partnering with banking and telecom firms to introduce bundled plans incorporating Swiggy One subscriptions. Under this initiative, Swiggy has launched Swiggy One Lite, a B2B solution, through which customers purchasing telecom subscriptions and banking products such as credit cards will now receive Swiggy One as an added benefit within their package.
Swiggy One extends a range of advantages to its users, including the exemption of delivery charges across its services like the food app, the quick commerce vertical Swiggy Instamart, the restaurant reservation feature DineOut, and the hyperlocal porter service Genie. The subscription for Swiggy One is priced at INR 1,299 for a three-month duration.
Sources indicate that the ‘Swiggy One Lite’ promotion is presently active in partnership with Axis Bank.
“We are constantly looking for ways in which consumers can experience the unparalleled benefits of Swiggy. Swiggy One is the country’s only membership program offering benefits across food, grocery, dining out and pick-up and drop services. We have now launched Swiggy One Lite, a B2B offering where we are working with several large brand partners in telecom, banking among others so that their customers can experience Swiggy with Swiggy One Lite,” said a Swiggy spokesperson.
“This will include benefits such as free deliveries on food and grocery orders and exciting offers across Swiggy’s many services. Brands can bundle the Swiggy One Lite membership with their own products delighting their customers with a valuable membership program,” the spokesperson added.
Furthermore, the company has introduced a jointly branded credit card in collaboration with HDFC Bank.
This comes at a time when Baron Capital, a US asset management company, has raised the value of its stake in Swiggy by 33.9 percent to $8.54 billion from the previous quarter.
Kapiva, the D2C ayurveda brand, has announced the elevation of its Chief Operating Officer (COO) Shantanu and Chief Revenue Officer (CRO) Anuj Sharma to the status of Co-Founders, according to a press release issued on Thursday.
Assuming their new positions, Shantanu will concentrate on evolving the brand into a strategic asset and crafting scientifically supported products, while Anuj’s responsibility will involve incorporating technology to ensure the seamless delivery of comprehensive health results.
Shantanu’s rich expertise encompasses marketing and e-commerce across India, Southeast Asia, and China, gained through roles at companies like Uniqlo and P&G. In a parallel vein, Anuj, an adept leader in driving growth, has applied his skills to notable brands like Myntra and Disney+ Hotstar.
“Shantanu and Anuj have contributed enormously to Kapiva’s journey in the past 2 years. Their expertise and experience have shaped the brand’s growth trajectory quadrupling the brand’s sales in the last 2 years,” commented Ameve Sharma, Co-Founder, Kapiva.
Shantanu, Co-Founder of Kapiva (Formerly COO), expressed, “Kapiva is one of the fastest-growing startups in the country. I am thrilled to be part of its journey and contribute to its success. I believe Ayurveda has the potential to positively impact lives, similar to the way Yoga has worldwide. We are gearing up to reshape the narrative of Ayurveda.”
“We are entering an exciting phase in an industry that is shaping the future. I am immensely thrilled to join visionaries Ameve and Shantanu on this journey. Together, we can empower global consumers with holistic and contemporary solutions, and align with the government’s vision to position India on the global stage by elevating Ayurveda as a significant export,” added Anuj Sharma, Co-Founder, Kapiva (Formerly CRO).
Kapiva was founded in 2016 by Ameve and Shrey Badhani. In 2021, the brand forged a partnership with Bollywood actress Malaika Arora, who became both an investor and a brand ambassador.
As per industry reports, the Ayurveda market is anticipated to undergo a USD 6.81 billion expansion from 2021 to 2026, showcasing a Compound Annual Growth Rate (CAGR) of 15.32 percent.
In today’s digitally-driven world, understanding and decoding the consumer pathway has become more complex and crucial than ever before. As consumers navigate a myriad of touchpoints, both online and offline, businesses must adapt to these changing landscapes to stay competitive. Mapping the consumer journey has become a fundamental aspect of marketing and business strategy, allowing companies to identify key touchpoints and optimize their interactions with consumers.
The consumer pathway is not a linear process; it’s a dynamic journey influenced by various factors, including personal preferences, technological advancements, and market trends. To effectively track and decode this pathway, businesses need to employ a strategic approach that involves mapping out the various touchpoints consumers encounter during their journey.
1. Awareness Stage:
At the outset of their journey, consumers often become aware of a product or service through various channels. This could include social media, search engines, word-of-mouth recommendations, or traditional advertising. Understanding which touchpoints are most effective in raising awareness is crucial. Businesses can use data analytics and social listening tools to identify which channels are driving awareness and adjust their marketing strategies accordingly.
2. Research Stage:
Once consumers are aware of a product or service, they typically move on to the research stage. Here, they gather information and evaluate options. This stage often involves online research, reading reviews, watching video demonstrations, and engaging with brand content. Businesses can track these touchpoints through website analytics, social media engagement metrics, and customer surveys to understand what information consumers are seeking and how they are accessing it.
3. Consideration Stage:
During the consideration stage, consumers narrow down their options and decide which product or service aligns best with their needs and preferences. This stage often involves comparing prices, features, and user experiences. Businesses can track touchpoints in this stage through shopping cart activity, email interactions, and customer service inquiries. Personalized recommendations and incentives can help guide consumers towards making a decision.
4. Purchase Stage:
The purchase stage is where consumers convert from prospects to customers. Tracking this touchpoint is relatively straightforward through sales data. However, it’s essential to analyze the journey leading up to the purchase to identify any obstacles or friction points that might hinder conversions. Streamlining the purchase process, offering secure payment options, and providing excellent customer support can improve this touchpoint.
5. Post-Purchase Stage:
The journey doesn’t end with a purchase; it continues into the post-purchase stage, which includes product delivery, usage, and after-sales support. Tracking touchpoints here involves monitoring customer feedback, reviews, and post-purchase inquiries. Positive post-purchase experiences can lead to repeat business and referrals, making this stage critical for building brand loyalty.
6. Advocacy Stage:
Satisfied customers often become advocates for a brand. They share their positive experiences through word-of-mouth, social media, and online reviews. Tracking advocacy touchpoints involves monitoring social media mentions, referral programs, and customer testimonials. Encouraging and rewarding advocacy can amplify a brand’s reach and credibility.
7. Re-engagement Stage:
Even after advocacy, the consumer journey can loop back to previous stages. Customers may return for repeat purchases, seek out new products or services, or explore upgrades. Tracking re-engagement touchpoints is essential for retaining and expanding the customer base. Email marketing, personalized recommendations, and loyalty programs are effective tools for re-engagement.
Effective mapping and tracking of touchpoints along the consumer journey provide valuable insights into consumer behavior, preferences, and pain points. To accomplish this, businesses need to leverage technology and data analytics. Here are some key considerations:
-Data Integration: Integrating data from various touchpoints into a unified customer database allows for a holistic view of the consumer journey. Customer relationship management (CRM) systems play a crucial role in this process.
-Predictive Analytics: Using predictive analytics can help businesses anticipate consumer behavior, allowing for proactive engagement and personalized experiences.
-Feedback Mechanisms: Implementing feedback mechanisms, such as surveys and customer support channels, allows businesses to gather real-time insights and make necessary improvements.
-Automation: Automation tools can streamline processes, such as email marketing and customer support, to ensure consistent and timely interactions at each touchpoint.
-Personalization: Tailoring interactions based on consumer data and preferences enhances the consumer experience and fosters loyalty.
Final Thoughts:
Tracking and decoding the consumer pathway through effective touchpoint mapping is essential for businesses seeking to thrive in today’s competitive landscape. By understanding each stage of the journey and optimizing interactions at key touchpoints, businesses can build stronger relationships with their customers, drive conversions, and foster brand loyalty. The dynamic nature of the consumer pathway requires ongoing monitoring and adaptation, making it a continuous journey of its own for businesses. Those that embrace this journey and prioritize consumer-centric strategies will undoubtedly find success in the ever-evolving marketplace.
In the fast-paced world of modern business, staying ahead of the competition requires more than just a great product or service. It demands a comprehensive and adaptive approach to marketing that reaches customers wherever they are. This is where omni-channel marketing comes into play. With the power to transform a company’s revenue streams, omni-channel strategies have become a cornerstone of success in the digital age.
Omni-channel marketing is a strategy that integrates various communication channels seamlessly to create a unified and consistent customer experience. These channels can include online platforms such as websites, social media, email, and mobile apps, as well as offline channels like physical stores, print media, and call centers. The core principle of omni-channel marketing is to ensure that customers receive a consistent and personalized message, regardless of the channel they use to interact with a brand.
The concept of omni-channel marketing has gained prominence due to the evolving consumer landscape. Today’s customers are not limited to a single channel; they navigate through a complex web of touchpoints before making a purchase decision. They may research a product on their mobile device, compare prices on a desktop computer, visit a physical store to see the product in person, and finally make the purchase online. Successful omni-channel marketing acknowledges and facilitates this multi-channel journey.
One of the key advantages of omni-channel marketing is its potential to boost revenue. When done right, it creates a holistic and immersive brand experience that engages customers at every stage of their journey. Here’s how omni-channel marketing strategies can contribute to revenue growth:
1. Enhanced Customer Engagement: Omni-channel marketing fosters a deeper connection with customers. By delivering consistent messaging and a seamless experience across various touchpoints, it keeps customers engaged and encourages them to interact more frequently with the brand. Increased engagement often leads to higher conversion rates and repeat business.
2. Personalization: An integral part of omni-channel marketing is data collection and analysis. Brands can use customer data to tailor their messaging and offers. Personalization makes customers feel valued and understood, increasing the likelihood of making a purchase.
3. Improved Customer Loyalty: When customers have a positive and consistent experience across channels, they are more likely to become loyal brand advocates. Loyal customers not only make repeat purchases but also refer others, contributing significantly to a company’s revenue.
4. Cross-Selling and Up-Selling Opportunities Omni-channel marketing allows brands to showcase their entire product or service range to customers. By strategically presenting complementary or higher-priced items, companies can increase their average transaction value, directly impacting revenue.
5. Better Targeting and ROI: With the ability to track and measure the effectiveness of marketing efforts across channels, companies can allocate resources more efficiently. This leads to a higher return on investment (ROI) as marketing spend is directed towards strategies and channels that deliver the best results.
6. Reduced Cart Abandonment: By offering a consistent and convenient shopping experience, omni-channel strategies can help reduce cart abandonment rates. When customers can seamlessly transition from researching a product on their mobile device to completing the purchase on their desktop, they are less likely to abandon their shopping carts.
7. Global Reach: Omni-channel marketing also extends a company’s reach to a global audience. By optimizing digital channels for international audiences and considering cultural nuances, brands can tap into new markets and revenue streams.
However, implementing an effective omni-channel strategy is not without its challenges. It requires a deep understanding of customer behavior, robust data analytics, and the ability to adapt to ever-evolving technology trends. Moreover, it necessitates a cultural shift within the organization to break down silos and ensure that all departments work together to deliver a consistent customer experience.
Final Thoughts:
Omni-channel marketing is more than just a buzzword; it’s a strategic imperative for businesses looking to boost revenue in the digital age. By providing a consistent, personalized, and seamless customer experience across multiple channels, companies can engage customers, foster loyalty, and drive revenue growth. While it may require a significant investment in technology and resources, the long-term benefits of omni-channel marketing far outweigh the initial costs. To remain competitive and thrive in today’s market, businesses must embrace the omnipresence of omni-channel marketing.
Augmented Reality (AR) commerce is revolutionizing the way brands engage with consumers and drive sales. This innovative technology overlays digital information and virtual objects onto the real world, creating immersive and interactive experiences for users. As AR continues to gain popularity, brands are discovering new opportunities to leverage this technology to boost sales and fuel growth.
Enhanced Product Visualization:
One of the primary ways AR commerce benefits brands is by enhancing product visualization. Traditional e-commerce relies on static images and descriptions, leaving consumers to imagine how a product will fit into their lives. With AR, customers can virtually place products in their own environment using their smartphones or AR glasses. This allows them to see how furniture will look in their living room, how makeup will appear on their skin, or how a new car will fit in their driveway. By providing a more realistic and immersive shopping experience, brands can reduce hesitation and increase conversion rates.
Personalized Shopping Experiences:
AR commerce also enables brands to offer highly personalized shopping experiences. By analyzing user data and preferences, brands can tailor AR content to individual customers. For example, a clothing retailer could use AR to create a virtual dressing room where customers can try on outfits that match their style and size. Additionally, AR can recommend complementary products or accessories based on previous purchases and browsing history. These personalized experiences not only enhance customer satisfaction but also drive cross-selling and upselling opportunities.
Interactive Product Demos:
AR commerce allows brands to create interactive product demos that go beyond traditional marketing. Consumers can engage with products in a hands-on manner, turning, zooming, and exploring them from various angles. This level of interaction builds trust and confidence in the product, reducing the need for in-person shopping experiences. For example, the cosmetics industry has embraced AR by offering virtual makeup try-ons. Customers can see how different shades of lipstick or eyeshadow look on their own face in real-time, making informed purchasing decisions.
Solving Real-World Problems:
Some brands are using AR commerce to address real-world problems. For instance, home improvement retailers can offer AR tools that help customers measure spaces accurately and visualize how various products, such as flooring or paint, will appear in their homes. This not only simplifies the decision-making process but also reduces the likelihood of costly mistakes. By providing solutions to common consumer challenges, brands can differentiate themselves and gain a competitive edge in the market.
Augmented Marketing Campaigns:
AR is not limited to the shopping experience itself; it can also be integrated into marketing campaigns. Brands can create interactive AR advertisements that capture users’ attention and encourage them to explore products further. These campaigns generate buzz and excitement around the brand, driving traffic to e-commerce platforms and increasing sales. Moreover, AR can bridge the gap between the online and offline worlds by allowing customers to scan physical products or advertisements to access exclusive content or discounts.
Reduced Return Rates:
One of the biggest challenges in e-commerce is high return rates due to mismatched expectations. AR commerce can significantly reduce this issue. When customers can virtually try products before purchasing, they are less likely to be disappointed when they receive their orders. As a result, brands can experience lower return rates and higher customer satisfaction levels. This, in turn, contributes to cost savings and improved overall profitability.
Overcoming Adoption Hurdles:
While the potential benefits of AR commerce are vast, brands must also address adoption hurdles. This includes ensuring the accessibility of AR experiences across different devices and platforms, educating customers about how to use AR features, and safeguarding user privacy and data. Brands that successfully navigate these challenges can position themselves as pioneers in the AR commerce space and gain a competitive advantage.
Final Thoughts:
AR commerce presents a wealth of opportunities for brands to drive sales and growth. By enhancing product visualization, personalizing shopping experiences, offering interactive demos, solving real-world problems, and creating augmented marketing campaigns, brands can engage customers in new and exciting ways. Additionally, the potential for reduced return rates and increased customer satisfaction further bolsters the case for adopting AR commerce. As technology continues to evolve and consumers become more accustomed to AR experiences, brands that embrace this innovative approach are likely to thrive in the evolving landscape of e-commerce.
Nestle India, a prominent FMCG manufacturer, has ventured into the Ready-to-Make (RTM) market with a focus on millets-based products. This expansion involves introducing millets-based offerings under their established nutrition brand, a+.
The company has introduced a+ masala millets containing bajra in the select market of NCR and online but has plans to expand it to other markets as it scales up, its Chairman and Managing Director Suresh Narayanan said on Thursday.
The development of this product has been carried out in collaboration with the Indian Millet Institute of Millet Research, aligning with the government’s efforts to encourage millets as a more eco-friendly and sustainable food choice.
“We felt that ‘a+’ has strong nutritional connotations and that is why we decided to launch the new product under this brand. This is being done under a public-private partnership with IIMR and is in line with the government’s focus on millets. There is growing health consciousness among Gen Z and millennials and we believe this can be a mass-market product,” Narayanan said in a media round table here.
Within the a+ brand, Nestle India presently provides products such as Greek yogurt, Nourish Milk, mishti doi sweetened with jaggery, curd, and more.
Nestle India is broadening its emphasis on products derived from millets. They have introduced offerings like Ceregrow grain selection featuring ragi, Milo Cocoa Malt enriched with bajra, and Koko Krunch breakfast cereals combining millet and jowar.
Nestlé has recently introduced two variants of Nestlé a+ Masala Millet, which are currently being tested in the Delhi-NCR region. These options are set to become available in other areas over the upcoming months.
Furthermore, Nestle also intends to introduce a variety of millet-based products in various formats, including within the Maggi noodles range. This move aims to enhance its presence within the relevant category.
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