What links half of the top 30 CPG companies

Market research and business decisions driven by firm, highly predictive insights are certainly key for business growth and success. However, not all market research approaches are the same. Many decisions about the research framework must be made and considered to ensure great results. One of the most crucial aspects is finding an agency that isn't just a research supplier but a true partner, one that makes your decision-making easier, more confident, and above all, provides results.

Recently, two distinguished speakers from Insights Lighthouse at Cannes Lions, Joanna Dumont, Consumer and Market Insights Leader, and Joris De Bryne, CEO at EyeSee, joined the FMCG Guys podcast for an insightful discussion on consumer insights that spanned nearly an hour. This episode, available for listening here, delves into the key to business success from an insight perspective.

Here are some takeaways we found particularly compelling. However, we encourage you to tune in, as there are many more insights shared, some of which may directly address your current research challenges.

The illusion of premium perception or bending brand perception to your will

One standout revelation was the disparity between premium brands and the actual pricing reality. The discussion highlighted a scenario where a brand was widely considered high-end compared to its competitor. However, closer examination at the retail shelf revealed that both brands were priced similarly. The competitor's strategic move of packaging a smaller product at a lower price created a perception of affordability for the supposedly premium brand. This insight underscored how packaging and presentation can sway consumer perceptions and influence purchasing decisions. That is why your planogram and packaging testing must be at the highest level and research should be conducted in context.  

https://www.youtube.com/watch?v=7Pc0hh6lyh8

Beyond Data: The role of real-world observations 

The podcast guests also emphasized a crucial aspect that is often overlooked in data-driven analyses—the impact of real-world consumer interactions and retail environments. The conversation underscored that while data offers valuable quantitative insights, it often misses qualitative nuances that drive consumer behavior. Observing consumer reactions firsthand in retail settings provides invaluable insights into how factors like shelf placement, product display, and store ambiance affect purchasing decisions. These insights highlighted the importance of integrating both quantitative data and qualitative observations to formulate effective marketing strategies.

Lessons for Today's Consumer-Centric Strategies 

The podcast also served as a call to action for consumer leaders and marketers to adopt a multifaceted approach in their strategy development. It underscored the necessity of understanding the consumer journey from perception to purchase, emphasizing the significance of real-time consumer feedback and market observations. By embracing a comprehensive understanding of consumer behavior, businesses can position themselves more effectively in the competitive marketplace. 

Conclusion: Embracing the Complexity of Consumer Insights 

The compelling insights from the podcast episode provide a nuanced perspective on the intricacies of consumer decision-making. Emphasizing the blend of quantitative data with qualitative observations challenges industry professionals to rethink traditional market research approaches. By uncovering the hidden truths behind consumer perceptions and behaviors, businesses can unlock new opportunities for growth and innovation. 

For those eager to gain deeper insights into consumer behavior and navigate the evolving landscape of retail dynamics, this podcast episode promises a thought-provoking exploration. Listen to it here!