How food and beverage companies can succeed in the microvertical space.
You can see it happening in supermarket aisles. Shoppers are moving their carts away from the big food brands and toward niche brands and specialized, fresher products.1 You can see it in the financials as well. The top US food and beverage companies have lost about $18 billion in market share since 2009, reports Fortune.
In this period of change, companies are differentiating themselves by focusing on specific niche, microvertical markets. By going niche, they can offer consumers unique products that appeal to highly specific consumer demand. But, developing a microvertical or niche business means taking on a range of new challenges. You must learn new skills, develop new and unique products, and rely on smaller production runs to produce higher margins.
You can only go big by going small.