CPG brands are partnering with breweries on limited-edition products
Trend - Craft breweries and snack brands are launching co-branded products for mutual benefit. By aligning with brands in adjacent industries, particularly those with overlap in consumer bases, awareness for each brand increases, leading to heightened sales and brand recognition.
Insight - Brand recognition is an evergreen motivator when it comes to consumer purchasing decisions. Some consumers prioritize consistency and are unlikely to take risks with their purchases. These individuals gravitate toward products with recognizable names, as well-known names are associated with consistency and quality. In recognition of this desire, craft brands are working together to boost name recognition and better address risk-averse consumers.
Insight - Brand recognition is an evergreen motivator when it comes to consumer purchasing decisions. Some consumers prioritize consistency and are unlikely to take risks with their purchases. These individuals gravitate toward products with recognizable names, as well-known names are associated with consistency and quality. In recognition of this desire, craft brands are working together to boost name recognition and better address risk-averse consumers.
Workshop Question - How can your brand partner with a complementary brand or industry to boost name recognition and attract risk-averse consumers?
Trend Themes
1. Co-branding Partnerships - Craft breweries and snack brands are partnering to launch co-branded products, increasing awareness and sales for both brands.
2. Flavor Pairing Experiences - Consumer demand for complementary flavor experiences is driving the rise of libation-friendly snacks, enhancing the enjoyment of alcoholic beverages.
3. Cross-industry Collaboration - Cross-industry partnerships and product innovation are driving the creation of unique and distinctive craft beer flavors, showcasing local culture and heritage.
Industry Implications
1. Craft Beer - Craft breweries are partnering with snack brands to launch co-branded products, expanding their consumer base and increasing brand recognition.
2. CPG Snacks - Snack brands are collaborating with craft breweries to create libation-friendly snacks that enhance the flavor of alcoholic beverages, meeting consumer demand for complementary flavor experiences.
3. Alcoholic Beverages - Craft breweries are collaborating with snack brands to create unique and distinctive flavor profiles in craft beers, offering consumers new and exciting options in the alcoholic beverage market.
