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.

The problem Knowing the problem is half the solution

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.

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Case study example A picture of the best case scenario

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.

Case example for Product Innovation
Reduce risk of innovating, reach the right audience Embrace Lify's benefits

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.

Lify's solution