Monitoring and understanding NPD trends in consumer health can help fmcg companies identify opportunities and inform strategic decisions to stay ahead of the curve.
Consumers tend to tighten budgets in the face of economic uncertainty and look to get the best value from their everyday purchases. Tech-savvy Asian consumers utilise online shopping platforms for value visibility through price comparisons and online reviews before purchases.
Investment in emerging technologies is likely to benefit from improved understanding and realised need for digital transformation across industries. While funding remained challenged during 2023, planned investments are expected to show positive prospects over the next five years, in alignment with the understanding of potential impact of emerging technologies for businesses.
This article showcases our new Passport Product Innovation capabilities, highlighting how businesses can leverage our product launch data to identify what and where innovation is happening and how it links to consumer trends (Megatrends).