35. The 3 Reasons Why Food Entrepreneurs Are Succeeding
In this Season 2. wrap-up episode, I share the 3 reasons why and how Food Entrepreneurs, especially those from Small and Medium Sized Businesses, are succeeding in an unprecedented way versus traditional Big Food companies.Over the last 7 years, the most innovative and high growth products are actually coming from Food Entrepreneurs in start-up and scale-up businesses. These products account for less that 3% of sales in the market but are driving more than 30% of category growth. Some industry insiders are predicting that this is a precursor for the demise of traditional mainstream brands altogether.These 3 factors for success are evident in the food businesses featured in our Season 2. episodes, as they demonstrate;Product & Brand AuthenticityConsumer ClosenessProduct DiscoveryA huge thank you to all our Season 2. podcast guests for sharing their inspiring business stories and expertise with us, and to our long-term sponsor of the Eat Drink Innovate podcast, the Food Innovation Centre at Monash. Find out how they can help your business become more innovative: https://www.foodinnovationcentre.com.auYou can learn more about and connect with Susie at Eat.Drink.Innovate via:https://eatdrinkinnovate.com.auhttps://www.instagram.com/susie.eat.drink.innovate/https://www.linkedin.com/in/susie-white-4ba47a34/Do you want to learn more about how you could develop new products to drive growth in your food and beverage business? Try reading Susie’s Amazon best-selling book,“Innovation Feast; Create new product ideas to feed your hungry business”.It’s available to purchase online at Amazon, Book Depository, Booktopia and via the website link below:https://eatdrinkinnovate.com.au/innovation-feast/Thanks for listening and join me next time to eat, drink and innovate.