Founder and CEO of Wholesome Bowl and FMCG industry expert Mez Jamali said that the new establishment of his business highlighted the importance of driving as much trial as possible so that people become familiar with the brand.
“Key to this is to have the product available in as many stores nationwide as possible, making it easy for consumers to find,” said Jamali.
ACV (all commodity volume) is the single data point that will most influence a private label business such as Jamali’s Wholesome Bowl in the next 6-12 months.
Jamali continued that crucial to this goal is ensuring Wholesome Bowl’s product’s omnipresence across nationwide stores, enhancing its accessibility to consumers. ACV is the pivotal indicator of reach, embodying the company’s strategy of embracing a trial-first approach to earn customer loyalty.
ACV measures product distribution in a way that considers its retailers’ selling potential. It is a metric that can be employed that gives a great snapshot of the quality of the distribution network. The percentage ACV is a number measurement of a store’s total sales of all products relative to the sales of all relevant retailers in a given territory.
Wholesome Bowl is placing innovation at the forefront of its strategy to maintain its growing consumer base and gratify loyal shoppers. This innovation predicates discerning and responding to consumer demands. Consumers gravitate towards nutrient-dense, affordable, and cost-effective food amid the current economic climate. Guided by these pillars of health and affordability, Wholesome Bowl is poised to sustain an innovative trajectory.
Jamali explained that meeting the evolving consumer demands for healthier and more sustainable products was necessary to stay ahead of market trends and swiftly implement changes.
“We’re witnessing a rapid transition towards the ‘Functional Food era’, anticipated to supersede the ‘Free From’ era characterised by gluten-free, fat-free, sugar-free offerings, among others.”
He continued that this progression reflected a nuanced interpretation of the health trend. As an illustration, a survey by Kerry discovered that 42 percent of consumers across 16 nations had elevated their purchase of functional foods over the previous year.
Another report found that two-thirds of adults in the United States look for food and drink with added vitamins and minerals.
In light of the health concerns amplified by COVID-19, half the global consumers now express greater faith in functional food’s medicinal attributes. Wholesome Bowl is committed to introducing innovation to align with this trend and consumer expectations. The brand’s instant noodles are fortified with 17g of protein, six grams of fibre, and 16 vitamins and minerals, providing consumers with a convenient, affordable means to enrich their dietary nutrition.
“Thus, we aim to be a part of the paradigm shift in consumer buying behaviour and the evolving narrative of functional food.”