Food & Beverage

To establish trusting relationships, it is important to understand new consumers and their lifestyles, be transparent and remain committed to wellbeing and sustainability.

The food and drinks industry is one of the soundest sectors of the economy and with great growth in the present panorama, especially with the deployment of the emerging markets and globalisation.

But consumer habits have changed. Although demand is high, citizens have increased their discrimination when it comes to buying a product. Consumers are now making more rational purchases, in a scenario where there is a decline in differentiation in the world of brands.

Consumer loyalty is consequently becoming a core requirement when establishing a long-term relationship that no longer exclusively looks for a good quality-price relation but where new factors now come into play, such as the responsibility of enterprises with society and the environment.

In this respect, the consumer is becoming more knowledgeable and wants to know why, how, when and where in the food farming processes, how the crops have been treated, who has been affected and, in general, the responsibility with which that industry has carried out the entire production process throughout the food chain.

Customers are also demanding knowledge of the corporate brand which lies behind the products they consume. The increase in sales and market value of these products will rise when there is a higher brand reputation.

If enterprises in the food sector want to obtain a good position, increase their market stake or guarantee their profits, they must operate from transparency, a correct management of their reputation and strengthen the long-lasting ties with their stakeholders.

The business model will be affected if enterprises fail to acquire a position of social concern in nutrition and, in general, facilitate the overall welfare of society.

Cases

Budweiser (Backus AB InBev)
IDEAS
7 Apr 2021

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