It’s snack time
We all know that moment. The 3:10 hunger strikes that have you reaching for the nearest snack. However, what we all reach for at that moment has probably changed in the last few years. Traditional snacks like crisps are facing more competition than ever for their place in your snack choices. This week we’re taking a closer look at the challenges these brands face, the consumer trends that will affect the future of snacking and how brands can succeed in this challenging category.
In the past year of snacking we’ve seen everything from smoked salmon and glitter crisps to salted caramel flavours and new snacks made from a huge variety of grains, vegetables, nuts and fruit. With this proliferation of innovation and options, crisps are having to fight their corner for shelf space and try and find a way to stand out. Brands are also having to fight a strong challenge from own brand options, particularly when it comes to bigger sharing packs. When we are all trying to maximise the value of our meal deal we normally trade up, but when it comes to buying a larger pack we are happy to give own brand a chance.
We are all becoming more interested and informed about the food we eat, from where it comes from to the environmental impact of its production. Consumers want brands to be open and honest about how they produce our food – not questionable authenticity claims, but telling their real stories. Food is a topic of interest – 75% of teenagers claim to be foodies, and they spend 20% more on food than Millennials did in 2003. At the same time, health and wellbeing is top of the agenda. This has lead to the proliferation of ‘better for you’ snacking options, as we all make healthier choices. However, this doesn’t mean people have ditched their treats – it’s more about balancing approach – a bag of crisps followed by a trip to the gym and healthier options the next day rather than cutting them out completely. The way we socialise is also shifting with Millennials preferring more casual get togethers, staying in more than going out, and therefore wanting products that are flexible enough to work in these occasions. Products that can be customised and adapted based on different occasions and that allow experimentation with different flavours will do well.
The snacking brands that will win in this changing category are those that ultimately offer a better experience to justify spending more than the own brand. As we reduce the number of times we treat ourselves to more traditional snacks, we will be willing to spend that little bit more to make the most of our treat. If you can be open and honest about your product and use fresh, real ingredients, while offering a product that is flexible enough and allows for experimentation, you can win in the new snacking world.
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Diageo: Taste Festival
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Budweiser: World Cup bottles
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