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Vegan Food retailer gained 40% growth in sales using Custom market research

As veganism witnesses rapid rise across the world, the demand for vegan food products is booming. In the US alone, the demand for plant-based food has grown over 25% over the past year. Amidst these market transformations, several vegan food retailers often find it difficult to strike a supply-demand balance. Furthermore, the rising competition in the vegan food industry is posing severe challenges for players in the sector to keep the target customers hooked on to their brands. Our experts in the food industry believe that the vegan food market is one of the most lucrative and high-growth segments in the food sector. Businesses that incorporate competent strategies at the right time are bound to save themselves from being crushed by competitors.

Companies often invest countless hours and millions of dollars into strategies that fail to strike a chord with the target consumers. Request a free proposal to learn how we can help your business convert data into dollars with our custom market intelligence solutions.

Business challenge

A leading Vegan food company based out of Central America witnessed stagnating growth and increasing losses at most outlets. Furthermore, due to the company’s saturated network and weak value proposition, growth from new store openings or entering new geographies was an unviable option. With Infiniti’s custom market research solution, they wanted to identify changes that they could incorporate in their current operations in order to promote more sales and enhance growth. The vegan food company was also facing increasing challenges from aggressive new entrants that threatened their market position.

The vegan food company approached experts at Infiniti to help establish a clearer consumer value proposition and restore their performance.

Solution offered

To explore potential solutions to the challenges faced, experts at Infiniti worked closely with the vegan food retailer on comprehensive research and insight generation. The custom market research included:

  • An analysis of the potential limiting factors of the vegan food retailer, including their overall cost structure, operational challenges, and the strengths and weaknesses of their key competitors.
  • A brand health assessment to uncover the client’s true brand image in the market. This data was attained through consumer focus groups, employee interviews, and shop-along sessions at the clients as well as the competitor retail outlets to gain a deeper understanding of shopper behavior.
  • Customer intelligence solution to identify promising consumer segments for vegan food products. Our experts also conducted an operational risk analysis to evaluate the viability of new store formats, including Capex needs, gross margins, and operating costs.

The rising competition in the lucrative vegan food market necessitates companies in the sector to be agile innovators in order to thrive. Not sure how you can measure up to customer expectations? Get in touch with our experts for more insights on the changing market trends and how you can adapt.

Business impact

By building on the data gathered through Infiniti’s custom market research solution, the vegan food retailer was able to pilot and define new store concepts with clear and well-targeted customer value propositions. This included redesigning the retailer’s commercial offer and incorporating relevant outlet features such as store design and service levels. The new store format helped the client to capture greater value from customers and enhance sales by 40% within 7 months.

With over 15 years of experience in helping global giants strategize for overcoming critical business challenges, our experts can help you to devise the right solution to combat upheavals in the market. Request for more information on Infiniti’s services.

Industry Risk Assessment for a Leading Vegan Food Online Distributor

The continued proliferation of vegan food-related business stories and developments that have occurred during the past year demonstrate that this movement is just getting started in making its mark. Click To Tweet

2016 was an unforgettable year for many since that year was hailed as the year of veganism. Though many still see veganism, i.e., the abstinence from the use of animal and dairy products, as an extreme cultural practice. Its growing popularity is a clear indicator that the consumption of vegan food products is no longer a marginalized social movement. Vegan food products, although a niche market segment, is growingly rapidly due to the widespread adoption of veganism throughout the world. Its contribution to the ecological footprint and abstinence from animal cruelty are other factors for the rise in consumption of vegan food products.Request Proposal

The Business Challenge

  • The Client: A vegan food online distributor

A leading vegan food online distributor specializing in import/export and distribution of vegan food products in the U.S wanted to understand the relative risks in the industry. To implement an effective procedure for assessing the risks the client approached Infiniti Research. They were looking at leveraging our expertise in industry risk assessment to analyze market risks and maximize savings by being proactive rather than being reactive.

Industry Risk Assessment Benefits

Risk assessments offer a clear understanding of where a company stands considering the current global scenario and the factors affecting the market. Though this process seems to be tedious, or sometimes tyrannical, it helps companies gauge risks and make necessary adjustments to their business strategies. However, in the vegan food products segment, this is now turning out to be a necessity.

Summary of Our Industry Risk Assessment Engagement

Vegan food

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Client’s Journey

The market experts at Infiniti Research adopted a comprehensive approach to identify and analyze the risks in the vegan food market. It included a detailed analysis of factors affecting market growth and its impact on business strategies.

The industry risk assessment study included in-depth primary and secondary research coupled with qualitative and quantitative data collection procedures. The risks assessment experts also took inputs from various stakeholders in the vegan food market.

Solution Benefits and the Business Impact

This study enabled the vegan food online distributor to implement a robust risk management system to identify market risks. The comprehensive analysis of the risks from the point of view of our specialists helped leverage their industry expertise and draw a conclusion from vast datasets to mitigate risks.Get More Info

The solutions offered also enabled the vegan food online distributor to gain detailed insights into the potential risks in market expansion. This, in turn, helped them alter business strategies and expand their business units to enhance reach.

The Future of Vegan Food Products Segment

With the increasing complexities of the global vegan food products segment, leading organizations are finding it hard to scale up in terms of sustainability. Due to many such factors, capital expenditure plans are torpedoed and insightful business strategies are being ignored across sectors. However, to set precise business plans and act accordingly, it is essential to assess the risk in the industry that has the potential to destroy their business goals.

A must-read case study for companies looking to develop an understanding of the importance of risk assessment in the vegan food products segment.

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