The client: A leading protein snacks manufacturing company
Area of engagement: Channel optimization
The global protein snacks market is flourishing due to the increasing preference for health and wellness among consumers. Protein snacks such as snack bars offer high nutritional value, and convenience, as they can be consumed while traveling, between meals, and workouts. Protein, snacking, and wellness are the top three US food trends, these trends have resulted in the growth of the protein snacks market. Protein snacks were primarily found in stores, but due to these growing trends, they have managed to make their way into the mainstream. This can also be attributed to factors such as high awareness of its healthy attributed by the global population.
The following protein snack categories are experiencing high growth in dollar sales:
- Shelf stable beverages
- Greek yogurt
- Meat-based snacks
- Refrigerated functional drinks
- Snack bars
The Business Challenge
The client, a leading protein snacks retailer, approached our team of experts to help them gain better insights into the customer’s needs and preferences. The protein snacks retailer also wanted to gain a better understanding of the customer lifetime value by segmenting customers on the basis of channel usage information. The client also wanted to anticipate the future industry trends and develop strategies to maximize customer retention.
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The Solution and the Business Impact
The channel optimization solution offered by the experts at Quantzig helped the protein snacks retailer understand end-users’ needs and expectations to ensure they are met. It also helped them in accelerating multi-channel engagement by garnering information on consumer behavior and channel usage patterns. Moreover, the channel optimization solution enabled the client to discover meaningful channel usage patterns to help them make informed decisions.
Channel Optimization Solution Predictive Insights
Channel optimization is the most important area that directly affects an organization’s profitability. It helps firms in achieving a balance between fulfilling customer preferences and lowering the cost to serve each customer segment. To sustain themselves in the protein snacks manufacturing sector, organizations will have to establish a multichannel strategy; whereby, a prospect begins his journey in one channel, travels to another, and finally moves to a third to make a purchase. Channel optimization plays a crucial role in establishing a multichannel strategy, especially in the food industry owing to its diverse customer segments and channel usage patterns.
Want to know more about our approach to channel optimization and how we helped a protein snacks retailer identify and adjust to the latest food industry trends? Request a free proposal now.
Here are a few trends that are bringing about disruptions in the global protein snacks manufacturing industry:
- Rise in demand for vegan snack bars: Globally, there is a rise in the number of consumers that lead a vegan lifestyle. Such consumers make a conscious effort to stay away from products derived from animals and instead opt for healthy substitutes for dairy, meat and other conventional sources of protein. With the rise in vegan culture, protein snacks such as granola bars that have vegan specifications are becoming increasingly popular among consumers.
- Growing demand for organic protein snack: There is a high demand for organic protein snacks among the health-conscious consumers. Also, the rapid expansions of supermarkets and hypermarkets play a key role in making these products available to the consumers with less effort.
- Demand for high-protein snacks: Protein and fiber are the main ingredients that consumers look for in protein snacks. Protein snacks retailer are increasingly using protein and fiber formulations in their snack bars to capture the consumer attention.[spacer height=”20px”]
To succeed in this digital era, retailers must consider implementing strategies to serve the end-user segments based on their needs. This necessitates the need for enhancing channel optimization strategies, to make the best use of multi-channel platforms.