Food & Drink Business podcast: Grant Davidson
Food & Drink Business editor Kim Berry talks to Grant Davidson, managing director of Davidson Branding, about the changes in consumer behaviour and the increase in startups in the FMCG sector.
The episode opens with Grant commenting on the roller coaster of fundamental shifts in shopper behaviour over the last 18 to 24 months, with COVID speeding up some changes but also the Millennials becoming the most influential consumers and Gen-Z coming of age. He notes that these two groups love discovering new brands and are more likely to shop locally, be health conscious and support ethical, sustainable products, so brand owners need to start adapting to these changes.
The discussion then moves to the levelling effect of digital technology, allowing startups to grow faster than the big brands have and to choose whether to stay online or progress through to independents and supermarkets as their production capabilities grow. This leads to a discussion on the packaging freedoms that are offered from online sales as opposed to being on a supermarket shelf and the ability to provide more information about a product's sustainability and provenance.
We wrap the episode with the explosion in plant based meats and the rise of cultured meat products, both of which are being fuelled by Millennials and Gen-Z who are more willing to adopt them than previous generations. Grant then notes the increasing pace of change in FMCG, his recommendations for brand survival during this time of change and his views on the near future.