The fastest way to the heart
NIQ has surveyed SMBs to develop a better understanding of their business challenges, current concerns, perceived risks that would impact business growth, and their view of future growth opportunities. Of those surveyed, 59% of our respondents had products that fell under the category of food, leading to the focus of this report being on SMBs within the food category.
While great opportunity lies within this field, so does great competition. Do you have the right insights to bring your game forward?
In this report, we explore the top 3 challenges SMBs face in the food category worldwide and the realities of the consumer and the market landscape according to the story written by data.
Download the report
NIQ’s An Inside Look: The Food Category report delivers sentiments of small and medium businesses from around the world. Read and learn about business challenges for SMBs in the food category and develop resilient growth strategies.
What’s next for SMBs
38% of SMB survey respondents noted that they use market research data to predict business opportunities, and 98% have done so with success. Between the challenges SMBs face on pricing, retailer negotiations, and changing consumer behavior, the quest for growth and sustainability requires more hits than misses.
The beauty of data is that it can be searched for solutions that suit your needs.
For example, backing up proposals with the correct category information and winning angles can help SMBs form strong partnerships, negotiate favorable terms, diversify distribution channels, and secure shelf space when dealing with retailers.
By addressing these challenges head-on, SMBs can navigate the dynamic business landscape and position themselves for long-term success.
Fuel your growth
Access market, category, and channel data that can take your business to the next level.