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Consumer goods companies must account for market trends

Consumer goods companies must account for market trends

According to a study by research firm TNS, demand for sparkling wine and Champagne is currently on the rise, offering an opportunity to some beverage makers and posing a challenge for others.

Champagne and other sparkling wines could increase their overall share of the global alcohol market from 5.1 percent to 7.8 percent. Survey respondents indicated that their preference for these types of drinks stems from both their superior taste and the sense of sophistication that they afford.

In the U.S., these bubbly beverages’ share could nearly double from 3.5 percent to 6.5 percent.

However, TNS’ research indicates that many consumers are still hamstrung by the cost of sparkling wines. This means that there may be particular opportunities for beverage manufacturers that are able to offer more affordable products, making sparkling drinks accessible for those merely celebrating life, rather than a specific special occasion.

“The study does not indicate that consumers plan to increase their alcohol consumption overall, more that they would like to drink sparkling wines more regularly,” said Jan Hofmyer, chief researcher for behavior change at TNS. “Manufacturers of other alcoholic drinks should take note, as they will need to build loyalty and commitment to ensure their own market share is not affected by this desire to drink more fizz.”

Businesses across a variety of sectors should focus on anticipating and reacting to emerging trends in their target markets. However, recruiting accountants and other financial professionals who are capable of designing fiscally sound plans to take advantage of market trends can be challenging. Some firms may be able to benefit from working with professional recruiters to conclude a fast, effective financial professional search.

For companies that aren’t currently looking to take on additional long-term staff members, working with the interim professionals at a financial project consulting service can be the ideal solution for addressing immediate needs.

ExecutionistConsumer goods companies must account for market trends