This March 2010 Food Manufacturing column examines four actionable steps food and beverage manufacturers can take to implement a successful collaborative innovation strategy with retailers.
At first glance, today’s retailers and food and beverage (F&B) manufacturers appear to be in a fierce battle of the brands. Retailers facing mounting pressures to differentiate continue to successfully expand and launch private brands in the marketplace. Meanwhile, F&B manufacturers are trying to protect their brand value and win back market share. Despite differing business imperatives, enlightened manufacturers and retailers realize they have common goals—higher sales, increased profitability, and stronger business growth—that they can achieve together through collaborative innovation.