Success Case Study: Haitai-Calbee Honey Butter Chips
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The potato chips market in South Korea has been growing. In 2015, the five-year CAGR of the market value in local currency was 2.52%, which is higher-paced than any other savory snack categories, such as processed snacks, popcorn, and pretzels. Novel flavors in potato chips grab consumers' attention and create a significant buzz on social media, which influences the sales of innovative products. Haitai-Calbee honey butter chips is one of most significant examples. In the meantime, social media make the market more competitive and encourage a fast product lifecycle.
Scope
– After being launched in August 2014, Haitai-Calbee honey butter chips became a social media sensation in the country and sold fast. They became impossible to find in many stores, having widely sold out.
– Blending sweet and rich flavor with savory potato chips has appealed to young female consumers in South Korea, and news of the product spread quickly via social media.
– Social media also creates a much faster product lifecycle. Markets in countries with high social media penetration demand frequent innovative new launches or constant product updates.
Reasons to Buy
– Reduce the risk of failure by learning from brands/products that have under-performed: failed innovation can severely impact profit and reputation.
– Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
– Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
– Access valuable strategic take-outs to help direct future decision-making and inform new product development.
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