Adding Value to Indulgence Categories - Coronavirus (COVID-19) Case Study

Adding Value to Indulgence Categories - Coronavirus (COVID-19) Case Study

Summary

This report is part of the GlobalData COVID-19 Case Study series, which analyzes specific examples of consumer sentiment, lifestyles, attitudes, and behaviors stemming from the global coronavirus outbreak. It identifies key opportunities in premium products with added benefits to justify value.

Products in indulgent categories are more under threat during COVID-19 due to economic uncertainty. Brands in indulgence categories for food, personal care, and alcoholic beverages are introducing products with added benefits (e.g. functionality) to gain a competitive advantage. However, this could be a way of adding value for consumers with tighter shopping budgets during this time.

Scope

- Engage with smart and connected consumers with enhanced digital experiences for indulgent products.
- Brands should align products in indulgent categories more closely to new consumption habits, especially those developed during quarantine.
- It is vital for brands to highlight functional benefits of indulgent products on packaging to attract health-concerned consumers.

Reasons to Buy

- Understand specific examples of consumer trends and company responses in order to tap into what is really impacting the industry.
- Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.