2022-03-01-益普索Ipsos-如何通过创新手段抵抗通货膨胀（英）_11页_1mb

Summary

This report, "A playbook for innovation leaders in the CPG industry," focuses on strategizing for innovation during inflation.

Key Insights

1. Understand Elasticity: Innovators must grasp category and segment price elasticity differences. Demand vulnerability ("elasticity") varies significantly by product segment (e.g., infant formula changes with baby age) and is influenced by factors like substitutability, category necessity, and inflationary relativity (how your category fares compared to alternatives). Historical data alone is often insufficient; primary research is needed.

2. Select the Right Innovation: Choose innovation targets based on where the market allows it (which segments can absorb price increases). Overlap meaningful "core" efficacy claims with "beyond-the-core" claims (e.g., functional wellness, sustainability) to justify higher prices and reduce substitutability. "Permissibility to charge more" differs based on the combination of claims.

3. Embrace Premium Innovation: Even during inflation, the highest-tier products often show lower elasticity, potentially even increasing demand. Innovations that justify high prices through strong differentiation can be effective.

4. Adapt to Consumer Changes: Anticipate behavioral shifts due to inflation, such as trial-and-error buying, increased focus on promotions, shift towards lower-cost brands/options, and potential changes in distribution channel preferences. Attitudinal shifts like reduced novelty-seeking and financial anxiety also impact choices.

5. Strategic Portfolio Positioning: Use cross-elasticity data to map competitive positioning effectively, guiding decisions for new product launches or line extensions towards clusters offering higher price resilience and lower vulnerability to competitors.

Strategies to Reduce Pricing Vulnerability

1. Overlaying Claims: Enhance products with meaningful benefits beyond basic function to differentiate, build brand equity, and reduce substitutability, allowing for more resilient pricing.
2. Downsizing vs. Price Increase: Downsizing (e.g., reducing pack size, changing package with perception of benefit) can be an effective alternative or complement to direct price increases, often with much lower elasticity risk if done discreetly and communicated positively. However, authenticity and quality perception are crucial.
3. Strategic Renovation: Renovating existing products and portfolios through legitimate cost reductions (changes in formula, packaging material, etc.) or repositioning can help maintain margins without necessarily increasing price tags, balancing short-term and long-term gains.
4. Value-Oriented Launches: When launching new products, offer introductory price points and trial packs to appeal to budget-conscious consumers but factor resourcefulness into the long-term product life cycle.

Conclusion

Navigating inflation requires disciplined innovation leadership. By deeply understanding market drivers, strategically positioning innovations, leveraging differentiation, and proactively adapting to changing consumer behaviors, CPG leaders can build an inflation-resilient portfolio that balances immediate necessity with long-term brand health and outperforms competition.