Why Small Brands are Stealing the Spotlight
There’s been a lot of buzz around small brands right now. Smaller brands want to be the next best thing and big brands want the growth of small brands.
The heat is on and marketers everywhere are feeling it. With the barrier to entry lower than ever, new products are appearing almost daily and speed to market is becoming a priority. Eighty-four percent of fast-moving consumer goods professionals said they feel more pressure to bring products to market quickly today than they did five years ago. Only 1% said they feel less pressure.
Companies are finding themselves constantly defending against new brands, shifting to address the latest trends, and fighting for more market share. As a result, larger companies are using every tool in their toolbox to keep pace with today’s consumers’ shifting desires. To get to market faster, 98% of marketers say they are cutting corners, spending less time on at least one phase of the innovation process. When we asked marketers if they felt like spending less time impacted their products’ chance of success, 90% said “probably” or “definitely.” Nielsen – Read more…