Data Dive: How Independent Brands Spend to Drive Beverage Categories
Andrew Henkel, senior Vice President of brand growth solutions at market research firm SPINS, spoke at BevNET Live Winter 2018 about data and analytics, specifically focusing on how independent brands are driving beverage across all retail channels. He highlighted how natural positioned beverages, such as GT’s Kombucha and La Croix, have grown 9.6 percent over the past year to reach $12 billion in sales. Within that space, even as the largest companies are growing at the rate of the market, natural products are still just a small portion of the Big CPG portfolios, representing less than 10 percent.
Henkel spoke about how changes in consumption, choice and capital have created a dynamic new marketplace in which consumers are offered a wide range of drinks, each with different use occasions, that they can incorporate into their daily habits. By focusing on execution and uniqueness, he advised young brands to “turn smart capital into smart spend” and not to indulge in expensive cost drainers with limited returns, pointing to BevNET Best of 2018 “Rising Star” award winner Ripple Foods as a positive growth example to follow.
BevNET Live is the leading conference for the beverage industry. Future conference dates and locations can be found at bevnet.com/events.
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