WiseGuyReports published new report, titled “Success Case Study: Fever-Tree”.
“Success Case Study: Fever-Tree – Mixer brand capitalizing on premium spirits trends”, is part of Successes and Failures research. It examines the details of and reasons behind the success of the Fever-Tree premium mixer, which has grown significantly in the UK and is also expanding internationally. It delivers the critical “what?”, “why?”, and “so what?” analysis to teach you crucial lessons that increase your chances of launching successful products.
Alongside the brand’s popularity and industry recognition, the company’s revenue has also been steadily increasing. The 2016 financial year in particular was a significantly successful year for the company. According to preliminary results, the Fever-Tree brand’s revenue was £102.2m globally, registering year-on-year growth of 73%, and its gross profit was £56.4m with 83% year-on-year growth. Other mixer brands, such as Coca-Cola’s Schweppes, have not been able to sustain similar successes in terms of sales value and volume, especially in the UK.
– Fever-Tree is a “natural” premium mixer brand claiming to feature high-quality ingredients. The award-winning mixer brand has made an impact in the considerably mature overall mixer market, eroding established brands’ sales.
– Fever-Tree mixers have a distinctive character and its premium positioning caters to key consumer trends – such as premiumization, the craft movement, and connoisseurship – that are trending in the alcoholic beverage market.
– Consumers prefer to drink at home rather than outside, and this cocooning trend has fueled the success of Fever-Tree.
– Observing market trends can inspire new product development, identifying market trends and creating a brand that fills a gap in the market.
Key points to buy
– Use selection of successful and failed product launches and marketing campaigns from across the globe to inspire innovation.
– 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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