The client: A leading player in the food and beverage industry
Area of engagement: Customer analytics
The global ready-to-eat food products market is segmented into three types based on the packaging, distribution channel, and product type. The high demand for ready-to-eat food products can be attributed to several factors such as the rise in urban population, busy work schedules, and on-the-go consumption habits. The rise in disposable income in emerging countries along with consumer preferences for healthy and convenient food are the other factors that are fueling the market growth.
However, unhealthy substitutes and low quality and taste along with a growing shift towards a healthier lifestyle are likely to hinder the growth of the global ready-to-eat food products market in the coming years.
The Business Challenge
Company Description– A leading food and beverage industry client, specializing in the manufacture of ready-to-eat food products.
The client, a leading player in the ready-to-eat food market, approached our team of experts to help them leverage the use of customer analytics to streamline their business processes. The client was looking at refining their business strategies to optimize their marketing efforts and improve ROI. They also wanted to strategically plan their policies so as to improve customer satisfaction and boost profitability.
With the help of Quantzig’s customer analytics solution, the ready-to-eat food products manufacturer wanted to enhance their reach by expanding their customer base and by offering relevant services. Moreover, the client also wanted to streamline their campaigns and reduce the overall marketing costs.
Want to learn more about how our customer analytics solutions help food and beverage industry players? Contact us now.
The Solution and the Business Impact
Leveraging Quantzig’s customer analytics solution assisted the ready-to-eat food products manufacturing company in enhancing their service and product offerings to suit the needs of their customers. The solution offered also helped them garner insights that led to the development of a strategic plan that had the highest probability of engaging customers in relevant ways.
The solution also offered the following benefits:
- Reduction in customer acquisition and retention costs
- Enhanced sales force effectiveness by targeting qualified prospects
- Delivered higher returns on marketing and promotions investments
- Increased sales to new and existing customers
Customer Analytics Predictive Insights
Quantzig’s customer analytics provides actionable insights that help ready-to-eat food products manufacturers improve their on-the-shelf performance as well as enhance their overall marketing effectiveness. It also helps them identify the consumer trends and behavior in various segments of the market.
Moreover, our client was delighted with the insights this analysis offered to their marketing strategy. Customer analytics also enabled them to work smarter by making better-informed decisions as they are in a better position to understand the actual customers’ demands.
Food and beverage industry drivers:
- Rising demand for food products with a longer shelf life– The demand for food products with a longer shelf life is a major driver for the ready-to-eat food products sector. Also, the growth in working population and busy lifestyles have led to the rise in demand for packaged ready-to-eat food products as they can be stored for long durations and retain their freshness.
- Packaging technologies to retain maximum freshness– The global ready-to-eat food products sector is witnessing an increase in the use of different packaging technologies to retain the maximum freshness of the product. The selection of the right packaging technique also plays a key role in increasing the shelf-life of food products.
- The rise in the demand for organic food– The rising demand for organic food products is expected to be an emerging trend in the global ready-to-eat food market. Organic products offer several health benefits such as a high nutritive value, a higher source of antioxidants, and are free of preservatives or chemicals.
