How to Activate Consumer Trends Using E-Commerce Product Attribute Data

Also today’s issue of the TextileFuture Newsletter will introduce you on “How to Activate Consumer Trends Using E-Commerce Product Attribute Data”, based upon one of the latest Euromonitor’s findings and written by guest authors Jared Conway, Alison Angus, Lee Linthicum and Christopher McNiff.

The feature makes clear decAgainlarations on how to use E-Commerce Product Attribute Data and reveals some very intersting results.

We from the TextileFuture Team wish you a wonderful and exciting week, and we sincerely hope that you do get some food for thoughts for your own business and excellent reading.

Here starts the feature:

By guest authors Jared Conway, Alison Angus, Lee Linthicum and Christopher McNiff from Euromonitor

Introduction

Top 10 Global Consumer Trends

Every year, Euromonitor International identifies emerging and fast-moving consumer-driven trends that are expected to gain traction in the year ahead. These trends provide insight into changing consumer values and priorities and demonstrate how consumer behaviour is shifting and causing disruption for businesses globally.

In this white paper, we will select one of our top global consumer trends for 2021 and examine how that trend is manifesting itself in different consumer goods markets around the world. Using Euromonitor’s global e-commerce tracking tool, Via, we will measure the activation of each consumer trend by counting the number of stock keeping units (SKUs) sold online with product attributes corresponding to that trend. We will also track how SKU counts for different attributes change over time to gauge if a consumer trend is growing or declining. Using this combination of our Global Consumer Trends analysis at the strategic level and our e-commerce assortment tracking at the tactical level, we will show how companies can utilise this information to improve their online product presence and performance.

Consumer behaviour in 2021

The Coronavirus (covid-19) pandemic upended lives and businesses globally. Fear, restricted movement and economic turmoil have shaken and tested consumers who are taking stock and re-evaluating what is important to them and how they live. As a result, priorities and behaviours that were emerging pre-covid are accelerating and new habits and routines are surfacing, many of which are here to stay. Businesses everywhere must understand and adapt to these shifts in the ways consumers live, shop, work and play in order to stay relevant and succeed moving forward.

Safety Obsessed, a top consumer trend for 2021

One of Euromonitor’s top 10 global consumer trends for 2021, Safety Obsessed, highlights the evolution of a new wellness movement prioritising safety and hygiene.

Covid-19 put health and hygiene front of mind for consumers around the world. The fear of infection and increased health awareness is driving demand for health and hygiene products. Efficiency and cleanliness are no longer trade-offs, but expectations amongst Safety Obsessed consumers, pushing them towards contactless out-of-home solutions that minimise human interactions, and companies are shifting towards more localisation and transparency of supply chains as consumers demand fewer product miles and touch points.

Alongside this, Safety Obsessed consumers are also protecting their physical and mental health by increasing consumption of functional food and drinks that strengthen their natural defences against illness and infection, improve their immunity levels and boost mental wellness, with calming and mood enhancing qualities.

Why Organisations Need to Look Online to Meet Consumer Needs

The importance of tracking consumer trends online

Given the importance of consumer trends such as Safety Obsessed in a post-covid-19 world, companies can look to e-commerce to track how these trends are manifesting themselves in actual products. As the shift to online retailing accelerates, organisations face a multitude of challenges to stay ahead of their competitors and fend off threats from new companies and brands entering the market. A vast online product selection does not just give consumers more purchase options, it also increases the need for organisations to continuously monitor the products and attributes being sold generally, and through the e-commerce channel specifically.

Using e-commerce data to monitor changing product attributes also provides significant benefits compared to traditional brick and mortar channel research and scan data covering those channels. As more store-based retailers adopt a multichannel strategy and move online, technology can be used to automatically capture and organise their full product assortment item by item and from one day to the next in a way that is simply not possible with in-store retail audits. E-commerce data extraction and data science solutions allow companies to quickly monitor changing consumer wants and preferences by way of changes to the products being offered online on a day to day, or week to week basis.

The rise of e-commerce means that businesses are consuming more detailed and frequent data than ever to inform their strategy. Making sense of all that data remains an enormous challenge. No one solution works for everyone, but applying the right technology and data structure can deliver the insights needed to better understand both the e-commerce space and increasingly fluid and fragmented product assortments.

This white paper highlights a few ways that businesses can use online product assortments from leading e-commerce websites to systematically and continuously track product attributes. It also shows how organisations can leverage that information to inform different strategies such as product repositioning, product reformulations or new product launches. While focusing on product attributes related to the Safety Obsessed consumer trend, the tactics used in this white paper can be applied to any number of consumer trends to help organisations see how trends are being activated through specific product claims, ingredients and other attributes.

Monitoring the right product attributes online

Consumers are more aware of health and wellness than ever before. To better understand how well organisations are satisfying this awareness, we must first identify specific product attributes that represent the global consumer trend of Safety Obsessed. For this whitepaper, attributes that cut across packaged food and soft drinks have been identified. Once identified, we use Euromonitor’s e-commerce tracking tool, Via, to track the number of SKUs that have each of these attributes in different countries and product categories. This allows us to track the prevalence of certain attributes across markets and show where the number of SKUs is increasing or decreasing in an easy-to-use dashboard.

The specific Safety Obsessed attributes that will be examined in this white paper include:

Antioxidants
Good source / enriched with vitamins
Immune system health
Probiotics
Superfoods

These attributes all speak to consumers’ increased health awareness and demand for wellness, which has only accelerated during the last year thanks to fear of covid-19 infection and the negative impact isolation and restricted living have all had on consumers’ mental wellbeing. Safety and health will be at the forefront of consumer behaviour moving forward. Products must no longer just be high quality and reasonably priced, they must also provide extra levels of security and peace of mind by explicitly offering key Safety Obsessed attributes.

However, consumers are also inundated with claims, ingredients and other attributes from products offering a variety of health benefits. This means that finding the right message for what to communicate as well as what to offer can be very challenging, especially in industries such as packaged foods and soft drinks where there are product introductions from new and established players on a weekly basis. The importance and relevance of these attributes also greatly depends on the country or product category, and consumers are in no way monolithic in their Safety Obsessed needs. What is important for one consumer base can be very different for another. As a result, the ability to quantify and track these Safety Obsessed attributes provides powerful insight into the supply-side drivers of changing consumer behaviour. It can help a company stay up to speed with its product portfolio, if not, see around the corner.

Understanding the size and growth of trends to optimise product offerings

Identifying the right attributes that are driving global consumer trends is only the first step.

To make actionable decisions within an organisation, definitive and cross-comparable metrics are paramount. The next step is to understand the sheer size and scale of each attribute; organisations must understand just how prevalent (or not) an attribute is. In turn, that overall size provides key insights into the types of products consumers are currently looking for.

While size represents the overall popularity of an attribute by way of the number of SKUs the attribute is found in, it is not enough to inform any decisions or to understand changing consumer behaviour. Rather, changes in the number of SKUs are just as important. Product attributes can change quickly and consumers are constantly looking for the most relevant attributes based on their latest needs, core beliefs or personal values. As a result, the ability to track changes in the online prevalence of SKUs with specific attributes provides key intelligence to help companies optimise their product offer.

Case study: Tracking the safety obsessed consumer trend using attribute data

In the following dashboard, we track the key attributes representative of the Safety Obsessed trend. Taking a macro level view to begin with, the data in the chart shows all the packaged food SKUs from September 2019 to March 2021 across 40 key FMCG country markets. For simple comparability, the number of SKUs for three separate months have been collected to showcase how online product assortments are changing according to evolving consumer needs: September 2019, April 2020 and March 2021.

Examining the change in product prevalence for each attribute from September 2019 to April 2020 establishes a “pre-covid” baseline showing the magnitude of growth prior to the pandemic. While covid-19 was officially declared a global pandemic by the World Health Organisation on 11 March 2020, the month of April 2020 will be used as the final month before consumer behaviour began to significantly change as quarantines and lockdowns became more commonplace worldwide and manufacturers began to change their product offerings and positioning for the new normal. Using March 2021 as our concluding month for the purpose of this white paper, the impact of consumers’ behaviour and how online product offerings have changed can be clearly observed across the Safety Obsessed attributes under review.

As seen in the next chart, the leading Safety Obsessed attributes by far across all packaged food categories in March 2021 were good source / enriched with vitamins and antioxidant, with 45,012 and 41,103 SKUs respectively across 40 countries. This clearly shows that these two attributes are the most common for suppliers activating the Safety Obsessed trend in their product offerings to stand out in a crowded marketplace. If suppliers and retailers are looking to understand which are the most prevalent Safety Obsessed attributes in the global market for packaged food post-covid, antioxidants and good source / enriched with vitamins are the clear winners based on SKU counts compared to the other Safety Obsessed attributes.

However, while the size of those leading attributes by number of SKUs is significantly larger than other Safety Obsessed claims like immune system health, probiotic and superfood, we must also examine SKU count growth for each of these attributes for more insight. While size is important, and in some cases can provide a clear answer for which attributes to prioritise, often that does not represent the whole picture. By tracking SKU counts for each attribute on a daily basis, we can examine how these attributes have changed over time to glean even more insight on changing product assortments, claims and positioning, and what that in turn implies for changing consumer behaviour.

In this case, comparing pre-pandemic SKU count growth from September 2019 to April 2020, and covid-era growth from April 2020 to March 2021, shows just how dramatic the impact of covid-19 has been on the increasing prevalence of Safety Obsessed attributes. We can see how covid-19 concerns manifested themselves in product offerings worldwide, as suppliers actively and aggressively increased their use of Safety Obsessed attributes. As previously discussed, antioxidant and good source / enriched with vitamins were the leading Safety Obsessed attributes, and they both also saw the biggest absolute SKU count increase from April 2020 to March 2021. However, the other Safety Obsessed attributes also grew strongly in percentage terms. Probiotic claims for example, grew by 5% on average each month during the April 2020 to March 2021 time period. What is more important is that this growth was not just born out of covid-19 related concerns, but the concerns accelerated an already growing Safety Obsessed trend. In the pre-pandemic time period, we can see that the number of SKUs with a probiotic claim had the strongest growth, growing at an average monthly rate of 2%, considerably higher than the second fastest growing Safety Obsessed claim for that time period, immune system health at 0.7%.

The importance of tracking these Safety Obsessed attributes over a longer time period provides clear insights into how the pandemic has changed the types of products being offered to consumers. For suppliers looking to make actionable changes to their product portfolios, which is to be discussed in the next section, it is very important to recognise not just the size of each attribute, but also just how fast each attribute is growing.

Finally, to fully understand changing consumer preferences and demand for Safety Obsessed attributes, it is not enough to simply count the number of SKUs for each attribute over time at the global packaged food level. Suppliers will also need to perform additional due diligence before selecting attributes to incorporate into their products or deciding on which attributes to further promote. With a dataset that can further break down the number of SKUs for each product attribute by country, product subcategory, company, and brand, we can quickly identify exactly where the growth for each attribute is coming from.

Deep dive into countries and categories driving attribute growth

Next, we can dive deeper into the fastest growing attribute we identified earlier, focusing on packaged food SKUs with probiotic claims. We have mapped the various packaged food categories on a scatterplot. The X-axis shows the percent share of SKUs with a probiotic claim in each category relative to the total number of SKUs for that category during the month of March 2021. The Y-axis shows how much the percent share of SKUs with a probiotic claim in each category has changed from September 2019 to March 2021. This dashboard view gives companies an indication of a product attribute’s current share of the online shelf, as well as showing where the attribute’s prevalence is increasing or decreasing over time to indicate the direction of the trend.

This is important if a company is looking to understand what packaged food categories are driving trend activation from the supply side, and in this example we can clearly see that there are very large differences across categories. Dairy and baby food stand out in the upper right-hand corner of the dashboard as not only showing a strong online shelf share for SKUs with probiotic claims but also that the share of shelf for those claims has increased significantly compared to other categories.

The online assortment data also clearly demonstrates that in the case of packaged food categories such as edible oils and baked goods on the lower left hand corner, these categories have a low share of shelf for probiotic claims which has actually declined since September 2019. This highlights that probiotic claims are not a priority for suppliers playing in these categories, and implies that consumers are not interested in probiotic claims for those products either. In this case, companies should not focus on probiotic claims or ingredients for those categories given their low and declining share of the online shelf.

Finally, on the right-hand side of the chart we can see the leading brands for SKUs with a probiotic attribute. Understanding what brands and manufacturers are driving growth for each of these Safety Obsessed attributes is key for not only understanding potential competition in the space but also learning from the brands that have already penetrated this space. In the case of probiotics, we can see that the leading brands worldwide in terms of share of online shelf are Danone’s Activia and Nestle’s Nestle and Gerber brands.

Understanding brands within key markets stimulating attribute changes

A macro level perspective provides an excellent starting point for identifying where and how trends are manifesting themselves through specific product attributes, as well as highlighting where each attribute has a strong and / or growing online shelf presence. As we have seen in our example, we can use e-commerce data to quickly identify probiotic claims as the fastest growing attribute for the Safety Obsessed consumer trend. We have also identified dairy and baby food as the categories driving most of this SKU count growth with leading brands including Activia, Nestle and Gerber. Next, we can also identify the individual countries that are driving online SKU count growth, so that companies can refine actionable strategies to capitalise on the growing Safety Obsessed trend.

Looking more closely at dairy, we can see that China (highlighted) and Italy are the two countries that have both a strong online share of shelf for the probiotic attribute and have seen strong share of shelf growth from September 2019 to March 2021. On the opposite end of the spectrum, at the bottom part of the chart, dairy SKUs with probiotic claims still have a relatively large presence in countries such as Russia, New Zealand and Taiwan, but their online share of shelf has declined between September 2019 and March 2021.

We’ve highlighted China in the dashboard to showcase the brands with the most SKUs with a probiotic claim in the Chinese dairy market, so that companies can better understand the competitive landscape in a potential country, category and attribute to target. The Chinese dairy brands with the most probiotic SKUs for the time period from September 2019 to March 2021 were: Mengniu, Yili, Jun Le Bao, Golden Frontier and Classy Kiss.

Looking at the median SKU prices for each of these five brands, we can also see that probiotic SKUs from Mengniu, Yili and Jun Le Bao all have a comparatively low price point in the range of USD7.28-USD9.79. Meanwhile, Golden Frontier and Classy Kiss both have a more premium positioning with median prices of USD24.71 and USD21.60, respectively. Finally, examining these five leading brands shows a potential price gap between USD10 and USD22 waiting to be exploited (highlighted by the green box).

Much more information at lower category levels of the Chinese dairy market would need to be examined to make an informed product assortment decision, not to a mention a greater understanding of price gap strategies (see Euromonitor’s Identify Growth Opportunities for your Brand Whitepaper for more information). What is important for the sake of this whitepaper is that e-commerce data can be used to quickly and easily identify the most important Safety Obsessed attributes by size as well as by growth over a distinct period of time. Moreover, e-commerce data can be used to identify the most important product categories and countries driving assortment size and growth, as well as the individual brands and companies leading the way.

Once these categories and countries have been identified, what can companies do to stay ahead of changing consumer behaviour? In the next section, we’ll identify three basic brand strategy options for how companies can stay on top of and in front of the biggest consumer trends, such as Safety Obsessed.

Revising Your Brand Strategy Based on Changing Product Attributes

As we have seen in the last section, Safety Obsessed product attributes increased significantly following the covid-19 pandemic, and it is clear that consumers are demanding more health and wellness benefits from the products they purchase. Suppliers and retailers alike must continue to keep a close eye on further changes in consumer behaviour, to closely align product offerings to new consumer preferences and priorities. Once companies have identified the attributes that are increasing in prevalence and have zeroed in on the categories and countries that provide the greatest opportunities, then what should they do?

Companies should look to three distinct brand strategy options for capitalising on new consumer trends: Reposition, Reformulate or Launch New Products. In this section we will examine what each of those options represent with examples related to Safety Obsessed attributes.

Repositioning products to effectively communicate brands’ USPs

Consumers are inundated with product claims and other information, and it can be very challenging for companies to select the right marketing message to communicate their products’ benefits. Consumer products often have multiple strong attributes and benefit spaces, such as being enriched with vitamins or having superfood ingredients. However, a company cannot throw a laundry list of benefits at consumers and expect them to make sense of it or align it to their own needs. Consumers are simply too busy and too overwhelmed with choices to do the work themselves. As a result, companies must understand which trends are most prevalent and valued by consumers in their markets and ensure that they are correctly communicating those messages to consumers. One way for a company to do that is through repositioning of a brand, so that consumers see the brand in a new light or associate it with a new benefit space.

Let’s use an example from the Safety Obsessed trend to show how a company might seek to reposition a brand based on attribute data. Let’s say that a soft drinks company in Brazil has identified that its consumers are looking for more healthy product features and it currently promotes its products across various soft drink categories as being good for immune system health. However, the company saw itself lose a significant amount of market share during the covid-era to similarly priced competitors. In this case, the company may want to see what attributes grew the most during the post-pandemic period for soft drinks and work to promote a similar message to regain lost sales share. Looking at soft drink attributes in Brazil we can see the five identified Safety Obsessed attributes and how their online SKU presence has changed since the start of the covid-19 pandemic.

While immune system health SKUs were the third most prevalent in Brazil in March 2021, good source / enriched with vitamins was easily the largest Safety Obsessed attribute in the market with over four times the number of SKUs. What’s more is the growth of the attribute’s online shelf presence: while the number of immune system health SKUs did grow an impressive 165% during the covid era, the number of SKUs with good source / enriched with vitamins claims grew the most at 216%. So not only was the good source / enriched with vitamins attribute the largest of the five attributes shown, it also grew the fastest. This in turn indicates a very strong reception from Brazilian consumers given the explosion of products with this Safety Obsessed attribute.

In this case, the company might want to strongly consider repositioning its brands in its soft drinks portfolio as being good source / enriched with vitamins rather than supporting immune system health to keep up with Brazilian consumer demand and reverse its sales share losses.

Reformulating products to add the key ingredients and benefits consumers want

Repositioning is one option for companies looking to tap into different attributes already present in a brand to re-engage with consumers.

Sometimes, however, this option simply does not exist and companies need to add healthier ingredients to win with consumers. This is where product reformulation comes into play to make it more attractive to your target audience. In the case of capitalising on the Safety Obsessed trend, companies can easily track which attributes are most prevalent and / or growing their presence the fastest to identify potential reformulation opportunities.

One way to reformulate products aligned to the Safety Obsessed trend is to look at potential ingredients that can provide strong health claims to consumers.

For the next example, we will look at a popular juice manufacturer that has a presence across Europe and is looking to understand in which markets it should reformulate its juice portfolio to have more antioxidant properties. In this case, the company wants to prioritise what markets it should reformulate its offering to take advantage of changes in consumers’ mindset resulting from the pandemic. As we can see from the dashboard, we can plot several Western and Eastern European countries and look at the number of SKUs in the juice category that have antioxidant claims to assess the current product prevalence in each country and, more importantly, which countries are seeing strong share of shelf growth.

The countries with the strongest SKU prevalence for antioxidant juices are the countries on the right side of the chart: Czech Republic, United Kingdom, Poland and Spain. More than 8% of juice SKUs in each of these countries had antioxidant claims. However, in each of these countries we can also see that online share of shelf in these markets actually declined from the start of the pandemic in April 2020 to March 2021. This means that even though these countries had a strong online presence for juice SKUs with antioxidant attributes, other health related claims are winning more of the online shelf in the wake of the pandemic.

Meanwhile, at the top of the chart we can see five countries that showed a growing online share of shelf for antioxidant juice SKUs, with countries like Germany, France and Italy showing the strongest growth. If this juice company is looking to prioritise where to reformulate its products with antioxidant ingredients and make those claims, these three markets are strong candidates. While other markets might have a larger presence of antioxidant products, tracking changes in online SKU counts and share of shelf can help the company find where exactly it should be reformulating its product.

Launching new products based on consumer trend opportunities

Finally, if a company has white space in its portfolio, it can use product assortment data to help identify which attribute it should be prioritising in which countries and categories. While launching a new product is often the hardest and riskiest option of the three, staying ahead of shifting consumer behaviour and understanding product activation for consumer-driven trends is paramount. Responding to the Safety Obsessed trend is especially important given how much consumer attitudes for staying safe and healthy have intensified during the crisis.

For the final example, we’ll look at the US packaged food market and a company that produces baked goods such as cakes and pastries but is looking to expand into other food categories. The company has identified superfood claims as a Safety Obsessed trend to target and is looking to create new products with a more health-conscious image to complement its more indulgent product offerings in cakes and pastries. Within US packaged food, we can see the categories with the largest number of products with superfood claims in March 2021 were Sweet Biscuits, Snack Bars and Fruit Snacks, Savoury Snacks, Breakfast Cereals, Baby Food and Sweet Spreads.

However, focusing on SKU count growth in the pre-pandemic versus covid-era time period provides key insights on the popularity of the superfood attribute by category. In the table, we can see how drastic the pandemic was in changing the presence of Safety Obsessed attributes. In particular, the change indirection of Breakfast Cereals with Superfood claims is particularly impressive and speaks to the dramatic shift of consumers spending more time at home and demanding products that make them feel safe and healthy. While the company will likely need to consider additional factors to decide on a categoryto launch a new product with superfood claims, the consumer interest in Breakfast Cereals provides apromising opportunity.

Other factors must also be considered for a holistic brand strategy change. While this white paper focused on product attributes to determine potential brand strategy changes, many other factors would need to be considered alongside before making any final decision. Companies should look to layer on additional analysis such as size and direction of market sales, competitive environment, pricing strategy, retailer dynamics and political and economic scenarios to name but a few. The point is that understanding and tracking key product attributes provides a powerful way to evaluate how a market is evolving and identify future market opportunities.

Conclusion

With e-commerce sales accelerating due to the covid-19 pandemic, the use of online retailer data is becoming even more essential for companies’ strategic and tactical planning to optimise their assortment.

In this whitepaper, we have introduced one of the most important global consumer trends in a post covid-19 world, Safety Obsessed, and shown how the trend is manifesting itself in different consumer goods markets around the world by quantifying the number of SKUs sold online with product attributes corresponding to that trend.

For companies to stay up to speed on changing consumer behaviour, it is critical that they track this information. Companies must understand the prevalence and popularity of consumer trends like Safety Obsessed by way of number of products sold online that speak to that trend. However, given the dynamism of consumer behavioural changes in FMCG products, it is not enough to understand online product presence at one particular time and companies must continuously track this to understand the movements of these attributes to make actionable decisions and stay ahead of their competitors. For example, while we identified good source / enriched with vitamins and antioxidant as being the largest attributes for the Safety Obsessed trend by way of number of SKUs at the global level, probiotics saw the fastest growth in the covid era.

By diving deeper into what markets and players are driving these trends, companies can generate powerful insight into the supply-side drivers of changing consumer behaviour to inform brand strategies. The brand strategies identified in this white paper included repositioning brands to more effectively communicate key messages, reformulating products to include key attributes and launching new products where white space exists for attractive product attributes. While companies need to layer on additional analysis to decide on the correct brand strategy to execute, e-commerce assortment data that tracks the prevalence of different product attributes over time provides a powerful starting point.

The methodology outlined in this whitepaper can be applied to any FMCG category with an online presence, allowing brands and companies to take advantage of standardised web extracted data to understand changing consumer trends by way of product attributes.

How Can Euromonitor International Help?

Via from Euromonitor International makes e-commerce data simple. By extracting and organising pricing, assortment and attribute data from online retailers on a daily basis, we help you set pricing and promotional strategies, optimise online distribution, plan for new product development, track your competitors and support your retailer and supplier negotiations.

Whether you’re an expert or new to e-commerce data, we will partner with you to build a solution that works. Based on what you’re looking to achieve, we provide you with the relevant data in the right deliverable to get you the insights that matter most.

Learn more about how Via can support your organisation’s strategic and tactical objectives or request a demonstration to see it in action.

www.euromonitor.com

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Introduction

Why Organisations Need to Look Online to Meet Consumer Needs

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