path forward webinar host today’s speakers...attitudes and behaviours? • any new key execution...
TRANSCRIPT
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 1 ‒
PATH FORWARDWEBINAR HOST
• Launched career in sales & brand management
• Since the late 80s involved in the marketing research and information business
• Very involved with the Marketing community via CMA/ACA/CMDC
• Frequent public speaker, conference moderator & facilitator
• Currently craving a juicy burger & french fries from Holy Chucks
Steve LevyIpsos Canada
• Concentrated on innovation exploration, qualification, and optimization through 18 year career
• Served as key innovation advisor for various Tier 1 CPG and Food Service orgs
• Deep & extensive forecast modelling expertise (10+ years)
• While loving her 6 year old’s daily singing performances, she is aching for the luxury of taking her sweet time perusing the grocery aisles looking for new launches
• Began career creative agency-side in account management
• Last 10+ years spent in CPG Marketing with diverse roles in innovation, strategy, brand management
• Expertise in Food and Automotive industries, leading some of Canada’s most beloved brands and businesses
• Joined Campbell’s 3 years ago from KraftHeinz
• Running low on White Claw and new Netflix content
TODAY’S SPEAKERS
Kelly BeckerSVP, Ipsos Innovation Lead
Mieka BurnsVP MarketingCampbell Canada
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Innovating During Unprecedented Times
THE PATH FORWARD
Kelly Becker, SVP, Innovation Service Line Lead16 June 2020
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INNOVATION IS THE HEARTBEAT OF THE ORGANIZATION
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CRISIS
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 5 ‒5 ‒ © Ipsos | The Path Forward – Innovating During Unprecedented Times
1. Are consumers as open to innovations during a crisis?
2. Do we need to revisit our pipeline in light of changing attitudes and behaviours?
3. Any new key execution considerations for innovations in our new reality?
4. How should we approach forecasting sales for an innovation with so many unknowns?
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 6 ‒6 ‒ © Ipsos | The Path Forward – Innovating During Unprecedented Times
•Are consumers as open to innovations during a crisis?
1
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RECEPTIVITY
Proportion of New Innovation Tests Achieving Healthy Trial Potential
SOURCE: Ipsos Innovation Meta-Analysis (Research-on-Research)’5 ways to talk about Reliability during Covid19’
37%Historical
global average
41%March 2020 in
US/IT/SP/UK/GE/FR
80
90
100
110
120
130
140
New Innovation Testing Pre vs Mid Pandemic
ORIGINAL TEST PRE-COVID RETEST MID-COVID
Trial Potential
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LEVERAGING THE PAST TO UNDERSTAND THE NOW
Great Recession (2008-2009)
Recent Years (2016-2019)
SOURCE: Ipsos Innovation Meta-Analysis (Research-on-Research)’5 ways to talk about Reliability during Covid19’
Relevance of Current Product
Index
100
94
‘Value’ Concepts that Show High Trial Potential
17%
27%
Concepts that Show High
Trial Potential
34%
39%
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SHOPPING DURING CO-VID
© Ipsos | The Path Forward – Innovating During Unprecedented Times 9 ‒
SOURCE: Ipsos Canada View Forward Covid19 Tracking Study, N=2000 N=504 April 2020
25%purchased new brands
because OOS
28%tried brands and
products wouldn’t normally buy
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 10 ‒10 ‒ © Ipsos | The Path Forward – Innovating During Unprecedented Times
• Are consumers as open to innovations during a crisis?
• Do we need to revisit our pipeline in light of changing attitudes and behaviours?
• Any new key execution considerations for innovations in our new reality?
• How should we approach forecasting sales for an innovation with so many unknowns?
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•Do we need to revisit our pipeline in light of changing attitudes and behaviours?
2
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What behaviours will stick?What are the remaining unmet tensions?12 ‒
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 13 ‒13 ‒
54% will stick to new cleaning habits 57% will cook at home
more 31% will increase spend on tech devices
SOURCE: Ipsos Canada View Forward Covid19 Tracking Study, N=1000 April 2020
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 14 ‒14 ‒ © Ipsos | The Path Forward – Innovating During Unprecedented Times
CONSUMER TENSION
Need products to play double duty
INNOVATION
Skincare with sanitation benefits
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SOURCE: Image courtesy: goodmorningamerica.com
© Ipsos | The Path Forward – Innovating During Unprecedented Times
CONSUMER TENSION
Be safe & protected but still fashionable
INNOVATION
Tri-kinis
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 16 ‒
CONSUMER TENSION
Romantic celebration, but stuck at home
INNOVATION
New packaged entertainment in a box16 ‒
SOURCE: Image Courtesy website for The Keg. https://kegsteakhouse.com/en/keg-celebration-kit
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Innovations for relevant insights almost
3Xgreater chance
of winning
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Image Source: Google Search
Hygiene hand with key ring antimicrobial alloy EDC
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 21 ‒21 ‒ © Ipsos | The Path Forward – Innovating During Unprecedented Times
• Are consumers as open to innovations during a crisis?
• Do we need to revisit our pipeline in light of changing attitudes and behaviours?
• Any new key execution considerations for innovations in our new reality?
• How should we approach forecasting sales for an innovation with so many unknowns?
![Page 22: PATH FORWARD WEBINAR HOST TODAY’S SPEAKERS...attitudes and behaviours? • Any new key execution considerations for innovations in our new reality? • How should we approach](https://reader033.vdocument.in/reader033/viewer/2022050416/5f8c9b0c8abdf6224116c6c7/html5/thumbnails/22.jpg)
© Ipsos | The Path Forward – Innovating During Unprecedented Times 22 ‒22 ‒ © Ipsos | The Path Forward – Innovating During Unprecedented Times
3•Any new key execution considerations for innovations in our new reality?
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 23 ‒23 ‒ © Ipsos | The Path Forward – Innovating During Unprecedented Times
ONLINE SHOPPING (P2W)
43%Shopped online
79%Issue free
experience
86%Will continue to
shop online
4 in10
0%
15%
30%
45%
60%
75%
Gifts Electronics Apparel, footwear
Shop Category Online
SOURCE: Ipsos Canada View Forward Covid19 Tracking Study Wave 4, N=425, N=1000 May 2020
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 24 ‒24 ‒
e-commerce shopping implications
For the foreseeable future, the POS or ‘shelf’ will be a website
It is critical for your innovation to be noticed at this virtual shelf
© Ipsos | The Path Forward – Innovating During Unprecedented Times
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 26 ‒26 ‒ © Ipsos | The Path Forward – Innovating During Unprecedented Times
• Are consumers as open to innovations during a crisis?
• Do we need to revisit our pipeline in light of changing attitudes and behaviours?
• Any new key execution considerations for innovations in our new reality?
• How should we approach forecasting sales for an innovation with so many unknowns?
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4•How should we approach forecasting sales for an innovation with so many unknowns?
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 28 ‒28 ‒
Consumer demand
Marketingsupport
?
?
Constants
?
CRITICAL BUCKETS OF INPUTS
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 29 ‒29 ‒
SOCIAL-ECONOMIC VARIABLES
Speed to recovery
Length of lock-down
Consumer confidence change
RETAIL FULFILMENT AND CATEGORY DYNAMICS
Weight of e-comm vs. physical store
Purchase cycles with stockpiling
Consumer preference shifts
INNOVATION MIX PERFORMANCE IN EVOLVING LANDSCAPE
Consumer demand (reaction to innovation)
Market structure and range/pricing
Marketing support/spend
Forecast Model Levers For Scenario Planning
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 30 ‒30 ‒
Scenario Planning: Measured or Assumed
Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2021
A Scenario A
Fast peak/fast return
Year 1: 2.1MM units
Scenario B
Recurring/normalized
Year 1: 3.6MM units
Scenario C
Flattened/long lasting
Year 1: 2.9MM units
B
C
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 31 ‒
LEAVE WITH YOU
31‒
© Ipsos | The Path Forward – Innovating During Unprecedented Times
Consumers are receptive
Important new changes
Pinpoint the tensions
Scenario planning
Revisit eComm position
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 32 ‒
CONVERSATION
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© Ipsos | The Path Forward – Innovating During Unprecedented Times 33 ‒
UP NEXT
See you then.
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Sean SimpsonVice PresidentCorporate Reputation
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June 22nd
Naumi HaqueSenior Vice PresidentMarket Understanding & Strategy