New Ventures Consumer Insights

Trend - THC is the primary psychoactive cannabinoid found in cannabis and brands are leveraging the ingredient to give experienced cannabis enthusiasts a bold accent for their food. These THC-powered products come in the form of sauces that add a playful kick to one's dish.

Insight - The growing cannabis industry in North America has proven to be quite prosperous and as consumers are becoming more comfortable with CBD, many begin to wonder about the possible implications of experimenting with the psychoactive benefits of THC. This is especially true for more daring consumers, those with some experience, and cannabis enthusiasts in general. This shift comes from the inherent desire to experiment and can be used by consumers as a form of escapism.

Implications - Despite the fact that vaporizer companies often position vaping as a safer alternative to smoking, some consumers remain wary of the long-term effects of vaping. In an effort to respond to their needs, a number of vape brands are integrating features that claim to make for a more controlled vaping experience. This serves as a reflection of the consumer perception that control can lead to a greater sense of safety.

Trend - Increasingly, bigger consumer-facing brands are unveiling initiatives that highlight inclusive office culture and diverse hiring practices. This speaks to the need for companies to attract top talent by leaning into diversity and inclusivity. This also signals the fact that consumers expect that the brands they love will align with their values not just for marketing purposes, but also in internal processes.

Insight - Today's young consumer is increasingly wary of brands' consumer-facing pushes for diversity and inclusion, as it's known that the internal cultures and policies don't always replicate the empowerment that brands promote. Thus, consumers are looking to see how brands are incorporating diverse and inclusive policies in their day-to-day processes to make their own assumptions on brands' workplace cultures.

Implications - Once, foodies in North America and Europe would seek out innovative flavor experiences from food trucks for their value and use of high-quality ingredients. Today, modern food halls offer a variety of chef-quality cuisines under one roof while also offering variety and the opportunity for an egalitarian experience accessible to all.

Implications - The life of an entrepreneur can often be a lonely one but increasingly, Neo-Boomers business-owners are turning to resources that offer support from a community of their peers. This serves as a reflection not only of the work ethic of this microgeneration, but more importantly their inclination to be fueled by a supportive community.

Implications - Increasingly, brands are releasing socially-oriented products that allow new cannabis users to experiment with precise, low-dose edibles that help to prevent over-use. This speaks to the desire that many adults have to experience a light social high without the fear of losing control or over-indulging.

Implications - Increasingly, food service providers are shifting their business models to better leverage emerging technology and automation to supercharge college meal plans. These new business models speak to an area of opportunity that not only fulfills what students want, but also overcomes common logistical challenges that come with preparing affordable food at an industrial level.

Implications - As the digital transformation permeates throughout society, traditionally manual processes like age verification is seeing a digital revolution. Digital age verification powered by technologies such as blockchain and facial recognition allows brands to give consumers greater access to age-restricted items. This shift sets the stage for elevated customer experiences as it allows those selling age-restricted products to enter the direct-to-consumer market.

Implications - In an effort to help consumers find a natural escape from the stressors of urban life, many consumers are turning to online direct-to-consumer solutions, even when it comes to plants. While these brands have had to overcome logistical challenges in shipping plants long distances, this move fulfills the desire many younger consumers have to either shop on a subscription-basis or to filter offerings based on specific requirements without having to speak to an expert.

Implications - One of the most pervasive criticisms of meal delivery services has long been the industry-wide reliance on single-use packaging solutions. In an effort to move away from this, an increasing number of meal kit and delivery services are turning to reusable packaging that eliminates the need for consumers to properly dispose of packaging materials. In a market that is becoming increasingly saturated with competitors, these offerings stand out for their alignment with shifting consumer habits surrounding sustainable consumption.