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Video: Consumers Dish On Brand Substitution
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Many of the legacy brands that once ruled the food and beverage sector find themselves the subject of depressing conversation these days. No longer able to capture the imagination of consumers, legacy brands are being replaced by new brands promising fresher and more distinctive experiences.
Consumers are changing the way they eat, and many of the products they embraced for years are no longer relevant to the lifestyles they lead today. Moving away from the packaged foods of yesteryear, today's consumers are actively seeking higher quality products, and have higher expectations of the experiences these foods will deliver. Whether consumers are seeking ethnic, less processed, locally produced or organic foods, iconic CPG brands are finding it difficult to compete.
With consumers trading up and away for new products and brands that reflect their changing and evolving tastes, what can CPG brands do to remain relevant? We spoke to three consumers to see what they look for in a brand.