The platform has been developed to help retailers and operators navigate the economic challenges they face.
But it also wants to help them grow by making informed and data-driven decisions.
Coca-Cola’s business spans more than 250,000 retail outlets and 500,000 foodservice outlets across North America.
That makes it uniquely positioned to provide valuable, real-time insights to businesses that need them.
The platform uses Coca-Cola’s proprietary tools and data, plus insights from secondary and third-party sources, to bring insights into focus on a user-friendly website: which is available to all.
The platform, says Coca-Cola, ‘dives deep into the nuances of consumer behavior, and then zooms out to show the trends and context that make up the bigger picture, all with a forward-thinking outlook’.
The site launches with 16 thought leadership stories covering topics ranging from broad macroeconomic trends and the state of the industry, to reports on niche categories such as premium water trends.
Macro trends
- Rising costs have significantly strained many households.
- Key trends across culture, technology, the economy and environment are expected to redefine the consumer and business landscape in the next three years.
- Demographics are changing consumer behaviors. Just 37% of US households are ‘nuclear families’, about half the rate they were 50 years ago. This shift demands new ways of thinking about multigenerational, multicultural and multi-roommate households.
- Consumers are getting more informed and detail-oriented about their own wellness needs.
- Advancements in tech – particularly AI and automation – are driving innovation and productivity.
- Many consumers have a hard time navigating how to make proper choices when it comes to sustainability. In fact, 78% say they don’t know how to identify environmentally-friendly companies.
Source: Coca-Cola Lens, Macro forces and trends.
“Coca-Cola has always been dedicated to driving growth with our partners. With the launch of Coca-Cola Lens, we’re taking that commitment to the next level,” said Dagmar Boggs, Head of Foodservice at Coca-Cola North America.
“Now, customers will be able to self-serve the actionable insights they need, precisely when they need them, empowering our partners to navigate the evolving landscape with confidence and agility.”
Who is Gen Z?
- Gen Z covers a range of milestones growing up: 64% have a license, 60% are in school, 25% are employed.
- Gen Z-ers are the ones ‘pushing boundaries’ in social, economic and personal fronts.
- They’re searching for authenticity and hungry for information (with access to it as well)
- 60% of Gen Z say they influence most of the food and drink purchased in their homes.
Source: Coca-Cola Lens, Who is Gen Z?
“We are launching Coca-Cola Lens to deliver on the promise to create value beyond beverages to our customers, while serving as thought partners and consultants,” said Pamela Stewart, Chief Customer Officer – Retail, Coca-Cola North America.
“Together, we will navigate this dynamic landscape, leveraging data and tools to drive our business strategies forward and accelerate growth.”
Eccomerce: Top trends
- Digital commerce in retail is projected to grow 53% over the next three years, contributing 41% ($116bn of projected total grocery store growth ($281.5bn).
- 90% of shoppers spend time shopping online – but only 75% of retailers believe delivering a positive digital experience is critical to success
- There is no ‘in-store vs online shopping’ any more, as shoppers are fluctuating between channels throughout their path to purchase (1 in 3 in-store purchases start online).
- Retailers are exploring media-centric platforms (social, streaming, gaming, EV charging) to capture attention and drive purchase)
Source: Coca-Cola Lens, Ecommerce and the size of the prize
Coca-Cola Lens can be accessed here.
