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Insights Newsletter

Define It: Categories In Action

Define It: Categories In Action

What “category” means in the context of a grocery store is more difficult to define than you might think. Categories could be defined as groups of products that meet a similar consumer need or that can substitute for each other. This allows something like snacks, as a category, to cover many different types of products and have a plethora of sub-categories (salty snacks, sweet snacks, etc.).

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Innovation in Food Is Different Than Tech

Innovation in Food Is Different Than Tech

Big food companies realize that they need to innovate. Rather than innovating only in-house, many have been acquiring or strategically investing in new brands at a rapid pace. Innovation in food needs to be matched with an emotional and cultural connection to the consumer through relentless communication about food companies’ brand promise.

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Amazon’s Acquisition of Whole Foods Disrupts Distribution And Presents Opportunities

Amazon’s Acquisition of Whole Foods Disrupts Distribution And Presents Opportunities

There are many reasons why selling food online is difficult. When cognitive neuroscience folks track our brain activity as it relates to food, they find something that is intuitively obvious: the pleasure centers of our brains light up when we eat and even when we shop. This acquisition opens the possibility that consumers can benefit without degrading their shopping experience or taking it out of the hide of food makers. Optimistic, but at least possible.

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Advisors and Feedback Are Essential to Food Business Success

Advisors and Feedback Are Essential to Food Business Success

Most successful entrepreneurs have a network of support behind them, like an advisory team, board of directors and funders. These individuals provide mentorship and guidance that is invaluable for that company’s success, augmenting what the entrepreneur and management team bring to the fold. The company’s customers, whether individuals or wholesale buyers, can also provide invaluable feedback and partnerships that yield fruit.

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True “Disruption” of Food Is Difficult

True “Disruption” of Food Is Difficult

Consumer tastes, preferences and expectations around food are changing. People are demanding more healthy food while also sometimes making the foray into purchasing food items online, mostly non-perishable, potentially hollowing out the center of grocery stores. While there is a place for technology to enhance customers’ relationships with food, true “disruption” of the fundamental dynamics of the customer relationship is likely a difficult goal to realize.

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