Mega-trends represent fundamental shifts across market sectors that have a major impact on consumer behaviour, such as 'premiumisation' and 'health & wellbeing'. They also represent significant opportunities for a business to realize 'next wave' growth, if they can respond to new expectations of how products and services must perform.
A mega-trend will likely create many and varied opportunities for growth, yet many businesses fail to capitalize on the opportunity as they don't take the time to survey the new landscape and discern what is a good fit with their own strategy. A business needs to ask: Will pursuing the opportunity help realise our future ambitions – where we want to be 'playing' in 5 years' time? Secondly, do we have, or can we gain, the capabilities required to champion the opportunity – will it be able to 'win' in this market space, against new competitors?
Previous work undertaken into the snacking mega-trend identified 10 different snacking occasions consumers have thru the day, though this was further underpinned by consumer segment differences that took the list up to 18 snacking opportunity spaces. The first stage of the project was to reduce this list down to the 5 or 6 opportunities that were a good strategic fit for the business in question.