Launching new products can be a big revenue driver, but it can also be a big cost to companies. The beverage industry is well-positioned for new products that capitalize on consumer trends, but there are several things companies should keep in mind when launching new beverage products, a panel of experts said during a recent Beverage Industry webinar.
One important thing to keep in mind is value, according to Larry Levin, executive vice president for industry insights at IRI. Consumers are willing to pay more for products they find valuable and that make their lives better.
“New product innovation is truly at the heart of consumer demand,” he said. “Value doesn’t mean cheap, value means making my life better.”
Levin outlined a process for launching new products that included interviews with consumers trying them for the first time, media evaluations, SKU rationalizations, media and merchandise planning and communicating effectively with consumers and educating them about the products. (read more…)
Fighting food waste has become a key cause in the restaurant world, as environmental concerns grow more urgent and eateries come together to fight childhood hunger. Some chefs and restaurants are moving beyond donating unused food and composting to creative new solutions that curb food waste before it starts, from creating seasonal menus using only locally grown ingredients to inventing dishes using bits and pieces of produce that used to get thrown away.
At Candle Cafe’s New York City restaurants, taking a bigger bite out of food waste means using all the edible parts of the fruits and vegetables. “With fall upon us, beet and then the use of the beet greens come to mind. We can also always use veggie remains to help in making stocks and the excess from trimming our seitan cutlets becomes our wheat balls,” said Executive Director Mark Doskow.
The Candle Cafes on the city’s East and West sides are organic, vegetarian eateries with seasonal fare that’s sourced locally whenever possible. (read more…)
Somewhere between 300,000 and 400,000 people flooded the streets of Manhattan on Sunday for the People’s Climate March, the biggest and most diverse group ever to come together to push for action on climate change and, not surprisingly, many of the marchers were focused on issues surrounding sustainable food.
The event brought out activists with a wide variety of core causes, from anti-fracking and renewable energy interests to labor unions to animal welfare groups to student organizations to religious groups, all of them raising their signs and their voices for a common goal. Vegan groups and organic proponents were among the throngs, making the connections between climate and sustainable food.
It’s a message that consumer packaged food brands including Mars, General Mills and Nestle are increasingly taking to heart. The consumers staples industry sector has doubled its investments in activities aimed at reducing carbon emissions since 2012, according to a 2013 climate change report from the Carbon Disclosure Project. (read more…)