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Digital packaging tools and workflows can help “David” or “Goliath” brands speed up product launches and/or optimize processes across the entire packaging ecosystem by improving communication with internal departments, as well as with external partners.
Why are smaller artisanal brands (Davids) starting to outperform the Goliaths of the fast-moving consumer goods (FMCG) world? In a recent Financial Times article, Bain & Co. states that Goliath FMCG companies experienced 7.7% growth from 2006 to 2011, but only 0.7% growth from 2012 to 2016. And according to a New Product Innovation Report, Nielsen states that, of more than 60,000 new stock-keeping units (SKUs) introduced in Europe in the last few years, just over half (55%) survived 26 weeks.
Craft brands are growing for a few good reasons: They have identified what resonates with their target consumer and established a strong sense of purpose behind their product. They’re innovative in creating new products and agile by quickly rolling out said products. Plus, many have an ecommerce presence. In fact, many of these brands’ grassroots marketing efforts started online. In short, today’s Davids have better slingshots.
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