Bamboo Brands' recap of 2023! And what a year it was!
Within the FMCG sector, there are constant changes that have a high impact on brands, such as the rise of private labels or the increasing popularity of retail media. Over the past year, we have been far from idle. A lot has happened in the FMCG industry and within Bamboo Brands. Let's take a look back at 2023 with some of the highlights, such as the numerous new collaborations with FMCG brands or our new research methods.
No, not 120 research projects in one year, but over the past 4.5 years. We take pride in our collaborations with fantastic FMCG brands, saving our clients approximately €51.8 million through these partnerships. Now, returning to this year, in 2023, we continued to work with both new and returning clients, and we are extremely proud of these collaborations. Here are some of the notable companies we worked with.
Growth of our team
As more FMCG companies seek better innovation, and innovation becomes increasingly crucial, Bamboo Brands experienced this demand. Hence, we were on the lookout for manpower to strengthen our team. The team grew with 6 new colleagues, including a research expert, project manager, and marketer.
New research methods
In addition to exciting collaborations, team growth, and numerous research projects, we introduced three new research methods, all in response to our clients' needs:
- Post Launch Evaluator: Improve the performance of recently introduced innovations, addressing the need to test products already on the shelves but not performing well.
- In-Home User Assessment: Understand how consumers truly experience the product, considering usage moments, consumption habits, and actual purchase intent after product consumption.
- In-Store Taste Assessment: Explore how consumers perceive the taste of your product, providing a clear understanding of taste experience within your target audience.
There is an increasing demand for innovation testing, aligning well with our mission and vision to reduce the 80% failure rate of innovations. This ties into sustainability—fewer failed innovations mean less waste of food, packaging, manpower, and more. We test innovations at retailers across the Netherlands, Europe, or wherever desired. Any surplus products are donated to food banks, with whom we collaborate closely.
Looking ahead to 2024
It's gratifying to see more FMCG companies and innovation teams adopting our methods and tools. This ensures that the FMCG sector innovates faster, better, and, most importantly, more sustainably.
We look forward to making even more positive impact in 2024 for the many fantastic brands active in the FMCG industry!
Do you have an innovation challenge for 2024? Contact email@example.com for the possibilities!