Simple Mills, a provider of clean-food snacks, is seeking to expand its presence in the natural category space with the help of a new partner. The specialty brand recently tapped IRI® Growth Consulting to expand its portfolio and overall value proposition for retail partners and consumers.
“Simple Mills partnered with IRI on a Price Pack Architecture project that drove highly actionable insights for both our current portfolio and new innovations. The IRI team mapped the current price and pack landscape, devised a custom approach to test consumer demand for new concepts across multiple retail channels, and advised on actions based on the learnings—all amid the market uncertainty of 2020,” Robb Bennett, Director of Insights and Analytics at Simple Mills, said. “The results played a central role in developing new PPA concepts that will begin hitting the market later this year and enabled us to confidently move forward on new innovation. We greatly benefitted from the IRI team’s strategic thinking, research experience, and cross-category pricing expertise.”
IRI is a fast-growing global leader in innovative solutions and services for consumer, retail, and media companies. According to the release, the partnership is part of IRI’s efforts to guide clients of all sizes in making the most cost-effective investments in pricing, pack architecture, messaging/positioning, and product features and innovation that will strengthen its overall value proposition and profitability.
“Due to recent cost increases and shopper behavior shifts stemming from COVID-19, CPG manufacturers—especially premium players—need to strengthen their margins and justify their price positioning. Furthermore, shoppers have become far more cynical about product claims and benefits, requiring brands to take a more sophisticated approach to communicate their true value and avoid commoditization,” said Ray Florio, Executive Vice President and Partner of IRI Growth Consulting. “IRI is proud to partner with Simple Mills and other companies looking to navigate rapidly changing landscapes and make strategic growth decisions to drive sustained competitive advantage during these uncertain times.”
IRI Growth Consulting is focused on supporting retail, CPG, and health care companies of all sizes to grow both top-line revenues and bottom-line profits simultaneously, with a focus on portfolio and brand strategy, pricing strategy, value proposition and innovation, and customer and product profitability. Among other benefits, the group can support clients by:
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