Consumer product goods
Product Innovation
Lify’s data can help CPG companies discover new trends and hidden customers’ needs, to identify the highest-value opportunities to invest in.
Introducing new products is often risky and expensive for CPG companies. It involves massive fixed costs in R&D, manufacturing, promotion and advertising, but it does not guarantee that consumers will react positively to the product. With Lify’s data, however, companies can gain a deeper understanding of customers’ needs and preferences to reduce the risks of product innovation.
As simple as buying anything else online; sign up, log in to the marketplace and select the data you would like to purchase.
Imagine a CPG food company looking to diversify its portfolio by introducing a new product in its home country.
It could gather data from Lify about the most popular diets, the most common habits, the most researched products, the most purchased alternatives etc... in that country.
Having identified the most profitable opportunities in the market, they could then develop new products with the right customer in mind and even involving those consumers for product testing, surveys or other research opportunities.
Working with Lify can provide any CPG company with those kinds of opportunities.
Using Lify’s data to guide the early stages of the product innovation process can add tremendous value to CPG companies.
Lify’s variety of consumer data can help CPG companies to truly understand their customers’ needs and create a product tailored for them and their preferences.
The result will be a lower risk of innovation, which will manifest in higher sales of the newly introduced products.
