Product Innovation with April Preston from Holland & Barrett \u2013 Innovate Podcast<\/strong><\/p>\n

The Innovate Podcast is a biweekly series of discussions with CPG Innovation experts, on how to innovate with success in an ever-changing world.<\/p>\n

In the fourth episode, our host Vypr Founder Ben Davies was joined by Holland & Barrett Global Product Director, April Preston.<\/p>\n

Ben and April discussed innovation in the cost-of-living crisis, plant-based sector, and the importance of being focused on solving problems for consumers.<\/p>\n

Listen to the full episode using the links below<\/strong>, and don’t forget to subscribe<\/strong> so you never miss an episode.<\/em><\/p>\n

Listen on Podbean<\/a>, Listen on iTunes<\/a> or Watch on YouTube<\/a><\/p>\n

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Through the episode, April emphasised the importance of a focus on solving problems for consumers when conducting product innovation.<\/strong><\/p>\n

Read some highlights below.<\/strong><\/p>\n

Products that win solve problems for consumers<\/strong><\/p>\n

The products April has seen get to market are the ones that solve a problem for customers, and she believes this consumer-centricity is something the industry could do better when it comes to product innovation.<\/p>\n

After all, the consumer is the one that decides whether products succeed or fail, and so designing products needs to be with this end user in mind.<\/p>\n

\u201cWe\u2019ve just got to keep the customer at the heart of what we do. You can\u2019t go far wrong if you\u2019ve got the customer at the heart of what you’re thinking of.\u201d<\/em><\/p>\n

But how can companies keep consumers at front of mind?<\/strong><\/p>\n

With the increased accessibility of technology, there are now multiple ways to keep pace with consumers via research platforms, such as Vypr, a specialised service for those delivering CPG products. By constantly touching base with consumers right from the initial stages of ideation, the chances of success are increased as companies can solve real problems and provide products people really want.<\/p>\n

\u201cI think we get too lost in product ideas and concepts and don\u2019t really think enough about what problem we\u2019re trying to solve here. All the best products I\u2019ve seen get to market are solving a problem for customers, so we\u2019ve got to get much more customer-centric”<\/em><\/p>\n

The consumer voice can help with optimising product claims<\/strong><\/p>\n

April mentioned an example of consumer-centricity that can guide product innovation \u2013 namely when deciding what product claims to make, consumer research can help companies make the right decisions.<\/p>\n

\u201cThe bit we need to get right is really understanding what are the motivating claims to make with customers. That\u2019s exactly where Vypr would do a brilliant job for us because we can test a number of different things to talk about very quickly and come to the right conclusions.\u201d<\/em><\/p>\n

A consumer-centric, problem-focused approach can also help companies stay agile<\/strong><\/p>\n

Navigating the cost of living crisis by being problem-focused<\/strong><\/p>\n

Not only does consumer-centricity help product optimisation, it also better equips companies to adapt to a changing climate, such as the cost-of-living crisis affecting us now.<\/p>\n

In this case, many companies would be tempted to hold back on innovation, but April suggested the importance of taking some risks if wanting to be successful at this time. This means conducting innovation, if it means solving problems for consumers.<\/p>\n

\u201cI think when a cost of living crisis hits the temptation is to slow down on innovation, but I think we need to do exactly the opposite and take a few more risks and try a few more things if we\u2019re going to be successful.\u201d<\/em><\/p>\n

April also mentioned that behavioural changes depend on product categories. It\u2019s important to understand consumer behaviour based on the category, instead of assuming a behavioural shift will affect every product in the same way.<\/p>\n

\u201cPeople still spend on luxury goods but they scale it down. I think it\u2019s really understanding what categories will they [customers] still buy into and what are the alternatives\u201d<\/em><\/p>\n

One behaviour April noted is that people are now setting strict budgets \u2013 some are even asking cashiers to stop scanning items when they reach their budget. Success is found in discovering such behaviours and helping consumers, in this example, stick to budgets, and not in assuming what problems they need solving.<\/p>\n

\u201cWhat I\u2019m starting to see already with the way customers are behaving is they\u2019re setting themselves a monthly budget and they\u2019re sticking to that. I think the secret to innovation will be really understanding how we can help customers stick to that budget, and not [just] the obvious let\u2019s create a basics range\u201d<\/em><\/p>\n

Processes should also be focused on consumers<\/strong><\/p>\n

Not only the above, the way we innovate is also important, as a consumer-centric approach needs to be combined with a great methodology to make innovation successful.<\/p>\n

April thought that the industry needs to bring more objectivity into the innovation process, incorporating the right data at the right points, and ultimately, bringing everything back to the consumer to ensure decisions are made to solve problems for them.<\/p>\n

\u201cLooking for ways to speed [process] up, to bring more objectivity into it rather than subjectivity, getting data at the right points and every step of the way bringing it back to the customer\u201d<\/em><\/p>\n

\u201cIt\u2019s the wasteful money that\u2019s spent because there\u2019s too many iterations, too many stakeholders, sloppy decision-making \u2013 that’s what we\u2019ve got to tighten up on.\u201d<\/em><\/p>\n

April also commented that many stakeholders can lead to too many opinions, reducing objectivity. By utilising technology to incorporate consumer voices, this can reduce this issue, and increase the speed of products getting to market. She emphasised the importance of a test-and-learn approach, and taking any setbacks as learning opportunities for growth.<\/p>\n

\u201cWhat we need to foster is quick-decision-making, that\u2019s what takes the time and the money, and an iteration approach.\u201d<\/em><\/p>\n

\u201cYou\u2019ve got to quickly learn and adapt, and you can\u2019t beat people up when it isn\u2019t successful first time because you\u2019ve learnt something from doing that activity.\u201d<\/em><\/p>\n

—<\/p>\n

All in all, by becoming more focused on solving problems for consumers, there is plenty of opportunity to learn and improve to transform the world of innovation, as we discovered in this episode.<\/strong><\/p>\n

Want to get all the insights?<\/strong> Listen to the full podcast on-demand. Click the links below to listen on your preferred platform.<\/p>\n

Listen on Podbean<\/a>, Listen on iTunes<\/a> or Watch on YouTube<\/a><\/p>\n

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Product Innovation with April Preston from Holland & Barrett \u2013 Innovate Podcast The Innovate Podcast is a biweekly series of discussions with CPG Innovation experts, on how to innovate with success in an ever-changing world. In the fourth episode, our host Vypr Founder Ben Davies was joined by Holland & Barrett Global Product Director, April […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7355","post","type-post","status-publish","format-standard","hentry","category-blog"],"acf":[],"yoast_head":"\n