In the past several decades CPG brand investment in R&D and innovation have significantly fueled new product introductions and growth. For example, nutritional brands have focused R&D resources on not only ensuring their products are scientifically supported and effective but also aligning with consumers’ changing preferences as it relates to key ingredients, packaging, affordability, and more. Innovation today requires the unique power to understand the consumer of the future, or accurately predict levels and areas of growth in consumer spending.
Amazon sales data offers a tip-of-the-spear indicator of emerging consumer new product adoption. These trends can enable brands to predict areas of growth in consumer spending faster and more accurately than any other market research tool – helping target the innovation process. Brands that take a consumer-centric, analytics-driven, agile approach to innovate will be the winners in this new normal, while those that fail to respond to rapidly evolving consumer preferences will likely be left behind.
Download this white paper to learn why eCommerce purchasing data and insights are the new secret weapon for CPG innovation—and why Amazon insights, in particular, offer a competitive advantage—and the benefits R&D teams are experiencing by incorporating eCommerce data analytics into their innovation toolkit.
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