Food & Beverage Innovation Forum 2017 (FBIF2017) is the leading F&B event in Asia to be held in Shanghai from April 19th to 21st, 2017. The theme of FBIF2017 is “Global Innovation, Powering Future!”, FBIF2017 is a three day conference contains Plenary Session (Day One) and four co-current session on Day Two and Day Three, which are: Product Innovation A: Beverage & Dairy, Product Innovation B: Functional Food & Snacks, Marketing Innovation and InnoPack. More than 90 speakers will present and 1500 senior executives from F&B industry are expected to attend FBIF2017.
Retaining Fickle Chinese Consumers
Brands do not know what consumers want, so do the consumers themselves. It is not an exaggerate description of the current state of Chinese consumers. Over the last 20 years, Chinese consumers experienced the consumption experience of developed countries have been experiencing for a century, thus causing them to be labeled the “most fickle consumer”. Therefore, the biggest problem for brands is how to retain fickle consumers and ensure the hit the “purchasing” button?
The current food industry is facing an awkward situation of both oversupply and undersupply. On one hand, homogenization and overcapacity of products exist. On the other hand, consumer demands are constantly increasing and ever changing. Facing the conflicts between the supply of food and consumer’s consumption, how should brands ensure their products stand out? Over the past 2 years, Vita Coco dominated the drinks category with their coconut water. It undoubtedly injected new vitality into the beverage industry. Nevertheless, the plant-based beverage still has more possibilities for development.
Consumer demand is increasingly diversified and personalized. A single product may face difficulties pleasing the majority of consumers, especially the Millennials’ demand. According to the report “The New China Playbook” researched by BCG and AliResearch, consumption by young-generation Chinese consumers is growing at a 14% annual rate. The Millennials injects to the market new vitality and has become a force that cannot be ignored. The rise of Millennials will bring new challenges and requirements forcing upgrading.
How to Refresh Old Brands?
China is accelerating into an era of brand consumption. There is a rise of start-up brands. So do foreigner brands. Consumption of established local brands with rich historical and cultural backgrounds is now facing a new round of market “reshuffle”. After many years of brand baptism and sales “knockouts”, the established and famous brands are showing signs of “ice-fire equally heavy (two completely conflicting opposites)” situation. With The fragmented attention of customers, new emerging class is coming up, Pan-entertainment Era is swelling up, a change in consumption environment and a strong influence of the Internet, the leading enterprises of the traditional food industry are facing a bottleneck in new development.
Apart from constantly updating their products with times, the most impressions brought to the public is even more crucial for those enduring century-old brands. Reliable quality assurance, good memories attachment, and innovative forms of advertising are all required to inject the old brand with new vitality. It will be the rejuvenating key of combining the heritage of classic elements with times.
Innovation Stems from Consumer Insights
Brands have to constantly innovate “preservation” in order to remain refresh. Although the beverage market growth experienced a relative slowdown in this year, it cannot disregard the momentum of competition and driving force of new products. With the carbonated beverage category gradually shrinking, industry giant Coca-Cola has accelerated expansion in the fruit juice and vegetable-based drinks market and achieved great results.
Simple product innovation can bring product competitiveness but is insufficient to fully support development of a brand. It is only from production to the final end user – from product development, packaging, marketing communication and other aspects of all round innovation, that a brand can drive long-term sustainable development. The source of innovation comes from market insight and consumer research.
With the generalization of information technology, application of new technologies, change in the form of content, and emergence of communication channels, the market competition environment is intensified. When the traditional prevalent marketing strategy is no longer suitable, it is not as simple as before to accept a brand for consumers. Listening to the voices of the consumer, meeting and guiding the needs of the consumer, and carrying out marketing activities are the starting point and main focus of brands. How could marketing be customized? And how could we find a balance point between satisfying needs and creating new demand for customers by keeping tightly up with their new insights?
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The growth of food industry slowed down in three consecutive years. As only one out of ten new products survive in the market and the life cycle of new products is shortening, the food industry starts its "new normal" growth model. With a new round of industrial upgrading, how will food enterprises get out of trouble and change the "New Normal" model?
Lipstick Economy boomed in the Great Depression of 1930s; Boeing transited to commercial aircraft after World War II; Samsung Electronics Co, achieved 3.17 trillion Won through its "New Management Initiative" in the Asian crisis; "Plan B" saved Starbucks in the Subprime Crisis and etc. All the above shows great achievements can be only made by innovation and breakthrough.
The Third Food and Beverage Innovation Forum (FBIF & Food Show 2016) will take place on April 20-22, in The Longemont Hotel, Shanghai. As the most influential conference in Asia-pacific in F&B industry, it dedicates to assisting the industry decision makers to foresee the future trends, promote positive development by sharing valuable showcases and technology. The theme of FBIF & Food Show 2016 is “Transforming Amid Slowing Market”, which contains Plenary Session and four parallel sessions (Food Product Innovation, Marketing Innovation, Packaging Innovation, and Manufacturing Innovation) during 3 days. This summit will attract about 400 senior executives and more than 800 people from leading companies like Coca cola, Pepsico, Nestle, Wrigley, Mondelēz, Mars and etc.
Open Future Mode, Lead the Markets Smartly
The failure of new products are mainly due to lack of marketing research and lack of understanding of the consumers, which results in the failure of constant success.
In addition to grasping current marketing trends, brands also need to step forward: open future mode, lead the markets smartly. In the future market, R&D, input, marketing and promotion will be more focused. In the Product Innovation session, executives from Mars, Nielsen, Vita Coco will discuss the topic on how to achieve breakthrough innovation based on market demand.
Embrace Industry 4.0 via Management Innovation
How to manufacture from "inefficiency" to "intelligent" by improving the quality and innovating on management? In the future factories, you can see everything, such as every rotation of machines, every carving of cutters, every transport of parts, etc. How to make comprehensive improvements on quality, cost, delivery and service? How to improve operational efficiency by optimizing and simplifying operations? How to enhance the strength of flexible manufacturing to response to the complex situation? In the Manufacturing Innovation session, Bosch, Beckhoff, Stratasys will draw a reliable picture of Industry 4.0 for you.
Find Consuming Whitespace Opportunities from the Breakthrough Point
The adaptability of the enterprise is related to the supply chain. How to improve the supply chain responsiveness to predict the market demand quickly? The answer is to know the real value demand of the consumers, to help build instant supply chain planning and implementation system, and to improve the efficiency of commodity circulation. How to predict the demand, so that new products release to the consumers in the shortest time? In the Supply Chain Innovation session, Unilever, Mondelēz, Barilla will take the supply chain as the breakthrough point to share how to increase supply chain competitiveness and find consuming whitespace opportunities.
Identify Opportunities for Growth When Market Slows Down
The situation is not optimistic although the Chinese market is still growing compared with developed markets. When digital and mobile become an increasingly important part in the daily life, how to explore the new growth opportunities? What will you choose between enriching the product line and targeting the high-end market? In the Marketing Innovation session, executives from Kantar, Innocent, McCann Erickson will share their insights into the opportunities of market slowdown.
Hit the Deep Desire, Packaging Refreshes Your Cognition
With the collapse of mass market, high degree of identification and personalized packaging are increasingly popular. In the Packaging Innovation session, Gatorade, HP, Alien Technology will redefine personalization of packaging. How to combine strategy and packaging to demonstrate the design? How to explore the needs and desires of consumers and stimulate them to purchase?
Faced with economic decline of food and beverage, how to transform pressure into motivation? How to get out of the trouble and contradiction of the "New Normal"? The R & D, manufacturing, marketing and packaging will back up food innovation. Come and join FBIF & Food Show 2016！
Taking place on 20th – 22nd April, 2016 in Shanghai, FBIF & Food Show 2016 is looking forward to your participation. Please pay attention to our official website for the latest event info.
Food & Beverage Innovation Forum 2016 Organizing Committee