The Signals Analytics platform connects data from a variety of external and internal sources and, using patented NLP and other AI and machine learning technologies, surfaces powerful trends and predictive insights. The platform is leveraged by product innovators, data and analytics teams, consumer and market insights leaders and marketers to surface key insights that drive decisions throughout the enterprise.
Since the beginning of the COVID-19 pandemic, our solutions teams have been tapping into the platform to identify trends and white space opportunities that have emerged as a result. By uniquely connecting multiple data sources including consumer reviews, social media, key opinion leaders (KOL), product ratings and reviews, patent information and other sources of innovation, the Signals Analytics platform has been used by tier one enterprises to guide them through this period. This week, we are launching a three-part blog that sums up our findings across multiple categories and their implications for the second half of this year and beyond as we enter a new phase in this crisis.
By evaluating multiple signals across the market landscape, we uncovered new trends that emerged since the start of the pandemic. We also identified trends that were disrupted by the pandemic, ascendant trends that emerged before the pandemic and are expected to continue rising. Our findings are by no means exhaustive; they are representative of the insights and capabilities of the platform and demonstrate how the analytic apps are used to shine a spotlight on answers to key business questions. For more detail and to get under the hood of our platform, click here.
Since the beginning of the pandemic, two new trends have emerged that transcend category: DIY and Immune Health.
The DIY trend arose in multiple categories as consumers were unable to procure their usual products due to supply chain issues and shortages in supermarkets, but also due to factors such as spending more time at home and the need for greater affordability. With a 73% increase in consumer discussions from March to May, the DIY trend in the food category was driven primarily by affordability and health. In the beverage category on the other hand, consumer discussions only grew modestly, but there was a dramatic (4800%) increase in Key Opinion Leader (KOL) posts driven by affordability and obesity and weight management. The level of KOL growth across both the food and beverage categories signals the sustained nature of the trend in these categories. In fabric care, the DIY trend has grown dramatically over the past quarter (17% increase) driven by affordability, environment-friendly and non-toxic attributes but this growth may not be sustainable for the long run. (Source: Signals Analytics Food Market Overview, Beverage Market Overview, Fabric Care Category Deep-Dives.)
Immune health was one of the most obvious areas for consumer discussion over the past months but certain ingredients have seen more of a dramatic rise for their associations with boosting immunity:
Source: Signals Analytics Food Market Overview
This is an important finding for ingredient companies, product portfolio and marketing managers who may seek to prioritize certain development cycles and highlight specific product benefits that will resonate with consumers.
Stay tuned for Part 2, tomorrow, right here, on the blog, and in the meantime, get in touch with our solutions team to see how to leverage connected data to surface insights relevant to your business.