DRINK TANK

How to spot a winning brand as consumers get 'fickler'

By Alice Leader contact

- Last updated on GMT

Keeping up with the times: Steve Sharp, Ian Peart and Mirko Lagattolla explain the need for brand innovation
Keeping up with the times: Steve Sharp, Ian Peart and Mirko Lagattolla explain the need for brand innovation

Related tags: Drink Tank, Pernod ricard

New brands fly into the market left, right and centre, so naturally, some products will take longer to seed into it.

So how do you spot a Fever-Tree for the woods?

Speaking at the inaugural Drink Tank conference in London on 27 November, Pernod Ricard business development manager Ian Peart said: “You have to show you’re on the right path as consumers are getting more and more fickle.”

Sticking to it

He continued: “You’ve got to show momentum and that it’s sticking so that people come back to it.

"We look at three things – has it got current consumer trends? Is it sustainable? And then thirdly, is it commercially viable?

“Not just for us, but for the trade as well – we’ve all got to make money.”

ZX Ventures head of new ventures Mirko Lagattolla said consistency is key. But, the experience of the consumer is what levers the entire journey.

Consumers know more

He said: “There is expectation from consumers. They probably know more than we do.

“And so, it is important that we put them at the centre of the innovation.

“We build a brand from the ground up, and as we do that, we need to tick those boxes around the brand.”

Historically, brands would have looked elsewhere to purchase other brands, but now, Mystery Ltd director Steve Sharp said: “They key is innovation within their own brands.”

Innovation, engagement and excitement

He continued: “This is something were seeing more of. Brands aren’t getting left behind now, they are being moved with the times.”

“It’s about the incremental growth, making sure that there is that genuine interest. If you can show that, then operators are willing to give it that opportunity.

“But, the expectation for me is far higher now.

“Consumers are far more aware, and their palates are different. We need to make sure that innovation, engagement and excitement is at that touch point of that customer’s journey.”

Related topics: Marketing

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