Micro-markets can help brands understand what time of day their food & beverage products – e.g. energy drinks – are being consumed versus their competitors’ brands, and consequently gain valuable insights into market trends & shopper behavior.
Time-of-Day Consumption Data for Food & Beverage Products
Unlike the other 2 “last mile” food & beverage product channels – grocery stores & convenience stores – most micro-markets are located within a few feet from the shoppers that they serve, and thus provide them the convenience to purchase food or beverage products exactly when they want to consume them. Consequently, product purchase times at micro-markets end up being excellent proxies for product consumption times.
Consumption times are valuable data for food & beverage brand managers because it helps them answer a very important question – What “job” is the customer “hiring” their product for? The theory of jobs to be done was developed by Clayton Christensen at Harvard Business School – instead of using demographic & psychographic profiles of customers, it advises brand managers to understand the job a customer is hiring the product to do.
Most food & beverage products are hired to do multiple jobs. Generally, caffeinated beverages like energy drinks are primarily hired by employees in the workplace to help them get work done – i.e. be more alert, focused, creative & innovative. But understanding when a product is consumed helps answer what additional jobs the product is being hired to do, and by whom. For example, if a particular energy drink brand is being consumed at a time of day when other brands are not, then it is possible that the consumed brand is being hired for an additional job – e.g. satisfy thirst, fulfill a flavor craving, etc. Understanding what that additional job is, helps the other brand managers to go back to their teams & create competitive offerings that can then do the same job.
When are the Different Energy Drink Brands Consumed during the Workday?
The charts below show when the 4 best-selling energy drink brands – Monster, Red Bull, Celsius & Bang – in AveriGo Markets locations are consumed.