Little Book of Innovation Chapter 11: Buying British
There has always been a sense of pride in buying British, and now more than ever, despite the ongoing economic uncertainty, with ESG principles in mind and continued Brexit wrangling, many consumers are making a conscious effort to buy locally sourced produce. It is our responsibility as industry professionals to make this as easy, convenient and cost-effective as possible.The consumer’s desire to know where the food on their plate has come from now goes far beyond simply knowing its country of origin. An element of traceability back to the source is required, a reassurance that when they are spending their hard-earned cash, it is going on goods that come not only with a seal of approval, but with a certainty of quality and a knowledge that, where possible, they are supporting businesses that have a true investment in their local communities, their region, their country.Whilst this is now widely offered when dealing with fresh produce, is now the time for these values to be adopted, more widely, into corporate retail, into the casual dining and takeaway sector, following the lead we are seeing in the many independent and higher-end restaurants that strive to offer this as a core value?
| German discounter Lidl has pledged to spend an extra £2bn on buying British produce ‘cementing its support for suppliers across the country’. Ryan McDonnell, CEO of Lidl GB stated ‘farmers and producers that supply us, some of which have been with us for decades, are paramount to the success of our business’. Shore Capital analyst Clive Black goes on to say that both Aldi & Lidl have been very 'switched-on' with increasing local supply… knowing they need to win hearts and minds of their UK customers’.Source: Telegraph January 2023 |
Transparency
Thinking more broadly, transparency is more crucial than ever. Being honest and rebuilding consumer trust undoubtedly leads to a loyal customer who is increasingly willing to be guided and advised about more innovative and sustainable ways to shop, cook and eat. Such a relationship allows the retailer to set trends rather than simply respond to those existing, or follow those set by competitors.With focus being directed at the pursuit of winning consumer loyalty, maintaining positive consumer relationships, and keeping price points as low as possible, there is little being offered in the way of new approaches, goods or ideas. Retailers are selling the same products, merely presented in a slightly different way. With all eyes on the industry, and an abundance of the questions being asked, retailers should race to be the first to provide answers.The rise in the cost of raw materials, the difficulties in procuring some, combined with the continued interest in food, fuelled further by the pandemic and binge watching of programmes such as the Great British Menu, Master Chef and Bake-Off to name just a few, mean there is a greater opportunity than ever to bring about change. One that makes the food industry a prime candidate for innovation.
Why is innovation so important?
Relevance. Differentiation. Trust.These are the three most important words in the food industry whether you’re a retailer, manufacturer, or brand holder. Increased relevance to your consumers, driven by real insight, delivers demonstrable differentiation from your competitors, increasing brand trust.If your innovation programme focuses on these three elements it will create a virtuous and sustainable circle for your organisation, one that delivers more reasons to purchase more frequently, increasing loyalty and consequently, a profitable pipeline of innovative solutions.We, as consumers, are living and shopping in an age where every pound in our pockets is important. The economic environment means that any new products or services we bring to market must deliver genuine value. Innovation helps to build loyalty in brands and retailers, offering a real point of difference other than price.Trust, can sometimes be the forgotten element of the innovation process. Good innovation demands good marketing and communication to land with consumers. Good innovation creates clear reasons to talk to your customers in a way that engages and motivates them, forces them to reappraise, rethink your offer, trust in your brand, a brand that delivers for them. Building these relationships allows the innovator to set trends rather than simply respond to those existing, or follow those set by competitors.
What is the cost of not innovating?
The supply chain is becoming more global and yet sustainability, health, local provenance, convenience and food waste are increasingly becoming consumer trigger points. The cost of producing our food is increasing and these remain industry challenges where innovation should also be employed from farm to fork.The spotlight is already switched on, let’s not shy away from it.Now is the time to work with industry experts in order to offer new solutions and demonstrate that they are leading the way with a fresh attitude and forward-thinking approach. I believe we are standing on the cusp of a very exciting era, one with a fast-paced and ever-changing landscape - who will be at the front of this race, who will be keeping up, who will fall behind, only time will tell but let us not forget - innovation is an obsession with understanding and creating what makes consumers happy, what delights them, what doesn’t, and creating solutions to deliver those needs.Now is the time to embrace it!Need some support with your internal innovation and NPD capabilities? Reach out today and let’s get talking: info@foodinnovationsolutions.com.