As we have seen over the past few weeks, anything can happen at any given moment. We are all feeling the impact this unprecedented time is having on the industry – and across the world. While we cannot predict when global health crises, shortages and natural disasters will occur, we can do our best to prepare for the future.
Now more than ever is a time to come together with support and compassion. How can you use your business to help others? Are you in a position to donate or expand incentives? Be thoughtful in your social media messaging, implemented policies and employee relationships, or you may run the risk of losing key stakeholders.
On the operations front, take a look at your supply chain, from raw materials to packaging. With products in such high demand, the longer a situation persists the more items could be at risk. Ensure there is time to mitigate and find suitable alternatives. Push the envelope on innovation. What about your product offerings? Can you launch new sizes and quantities? Consumers and retailers are looking for options to meet varying lifestyles. What about the format your products are presented in? There will likely be pent up demand for innovation.
It is evident there has been a shift in consumer behavior over the past few weeks, with a seemingly overnight shift to ecommerce and delivery services. This could be an avenue to consider developing if not already established for your brand. Outside of your own domain, there are a multitude of platforms to partner with that can help you reach new consumers. Where possible, expand on and implement new services.
Relationships are now more important than ever. While in-store demos might have come to a halt, remember your existing commitments are just as, if not more important to maintain. When we come out on the other side of this, it is those who went the extra mile that will be remembered.
As a business leader, be nimble and make changes with vision for tomorrow. How will you be remembered after COVID-19?
Led by a team of CPG veterans, JPG Resources is a food & beverage innovation and operations consultancy based in Battle Creek, Michigan, where it has established a track record of building ideas into thriving food businesses. With a team of more than 40 food & beverage diehards, JPG creates positive business outcomes for disruptive startups to the most trusted global CPG brands.
Dean Sinclair, Business Partner, Strategic Partnerships Lead