Food brands focus on innovation labs where they can ideate and create
Trend - The prioritization that brands are now placing on "innovation" has bled into the food industry, with some brands in this realm now creating innovation labs designed to help their businesses draw in consumers via new experiences and distinct menu items. This shift comes as brands seek to meet consumer expectations of diversity and distinction in choice.
Insight - North American consumers tend to feel more engaged when they know that their purchase journey is clearly designed to suit their interests, and this is particularly relevant within the food industry. Enjoying different cuisines is both highly personal and highly social for consumers, and having new experiences that are shareable with peers elevates their brand loyalty.
Insight - North American consumers tend to feel more engaged when they know that their purchase journey is clearly designed to suit their interests, and this is particularly relevant within the food industry. Enjoying different cuisines is both highly personal and highly social for consumers, and having new experiences that are shareable with peers elevates their brand loyalty.
Workshop Question - How could your brand develop an innovation lab?
Trend Themes
1. Innovation Labs - Brands are prioritizing innovation with dedicated labs to meet consumer's expectations of diversity and distinction, creating opportunities for distinct menu items and new experiences.
2. Sensory Experiences - Consumers are enjoying new sensory experiences, tapping into taste and aroma to explore whisky and creating multi-day explorations in restaurants, creating new opportunities for the food and beverage industry.
3. Startup Mentality - Companies are adopting startup mentalities and crowd sourcing, inducing innovating, growth, as seen with The Tysons Innovation Labs and WeWork's Food Labs program.
Industry Implications
1. Food and Beverage - Innovation labs and sensory experiences are being created as brands focus on new ways to meet consumer's expectations of diversity and distinction.
2. Coworking Spaces - Coworking spaces like WeWork are redefining the traditional office space and exploring new avenues such as food labs, creating new opportunities and niches in the industry.
3. Investment - Investment firms and accelerators might find disruptive opportunities by investing in innovative start-ups in the food and beverage space.
5 Featured, 44 Examples:
112,779 Total Clicks
Date Range:
Jul 16 — Mar 19
Trending:
Average
Consumer Insight Topics:
