The beer market faces an increasingly hostile environment, with 2015 beer sales declining in the UK by 7.9%. This has led a number of major producers to expand their portfolio into the craft beer segment, which has seen unprecedented growth, and with positive predictions for future performance. Results to date have shown that the majority of big players buy out craft beer brands, but Guinness has demonstrated that it is possible to enter this space through new product development.
- Guinness demonstrated that it is possible to enter the craft beer segment through new product development by successfully capitalizing on two driving trends within the beer market: authenticity and heritage.
- Using old recipes from the brewer's history helped to give the Brewers Project an authenticity that many of its competitors' offerings lacked.
- With consumers actively seeking out new craft beer, creating a genuine-feeling brand with roots in the past helps to avoid the taint of corporate acquisition for artisanal brands that so often sees consumers react skeptically.
"Success Case Study: Guinness Brewers Project" is part of GlobalData's Successes and Failures research. It examines the details of and reasons behind Guinness Brewers Project tapping into the premium and craft segments. It delivers the critical "what?", "why?", and "so what?" analysis to teach you crucial lessons that increase your chances of launching successful products.
- Reduce the risk of failure by learning from brands/products that have under-performed: failed innovation can severely impact profit and reputation.
- Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
- Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.