Success Case Study: SkinnyPop – Bringing simplicity and enhanced convenience to a snack staple

2017-09-12
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Published : Sep-2017
No. of Pages : 17

Success Case Study: SkinnyPop – Bringing simplicity and enhanced convenience to a snack staple

Summary

SkinnyPop was founded in 2010 as a two-person start-up. Delivering a simple ready-to-eat popcorn with natural ingredients, the brand has risen to second in the US ready-to-eat popcorn category, with sales reaching over $270m in 2016.

Ready-to-eat popcorn has emerged as a key growth opportunity within snacks in recent years. Overall, it is now commonly valued in excess of $1bn. Furthermore, profitability potential is strong, with margins typically above 30%.

Scope

– SkinnyPop has added value to the popcorn category by stripping the product back to a bare minimum, rather than adding ingredients or overly indulgent characteristics.
– The product’s simplicity and credibly healthier nature have helped to reinforce the idea of guilt-free snacking. This case underlines that brands are becoming more effective at delivering on the concept of healthy convenience.
– Keeping things simple can be transferable between categories so as to allow brand-building and without betraying any healthy/simple/natural brand ideology that may form part of the attraction of the core brand.
– SkinnyPop shows that good margins can be achieved from simplification while premiumizing, as opposed to justifying premiumization via greater complexity and thus production expense.

Reasons to buy

– Use GlobalData’s 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.

Filed in: Food & Beverage
Publisher : GlobalData
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