Advantages for Startups in the Plant-Based Economy
While there are no surefire paths to success in the startup world, certain factors give new companies a significantly better chance than others. The strength of their foundation, of course, contributes to the odds of success – a unique idea, excellent branding, sufficient funding, etc. So supposing that all startups with a fighting chance have strong foundations, the baseline from which they compete with one another is their ability to engage the external – the consumers and marketplace at large. And though still not a surefire route to success, having the attention and support of a group of consumers is absolutely vital. Now imagine if that group of consumers were large and growing quickly. And now imagine having the support of two such groups. Or of three. And that is the baseline at which plant-based startups enter the marketplace.
Plant-based companies are a triple treat
Plant-based startups have the unique opportunity to appeal to three growing populations: the health-conscious, the environmentally-concerned, and those worried for animal welfare. Such companies pose a triple threat to others in the marketplace by appealing not just to vegans and vegetarians, but to the massive population of flexitarians (about 39% of the US population, according to a recent report in Nielsen), whose purchases are increasingly motivated by their health and ethical concerns.
Plant based foods are finding an omnivorous customer base
Indeed, the growth in this space is hard to ignore. A recent article in Bloomberg notes that, “Plant-based food sales rose 20 percent over the past year,” which comes as no surprise in light of the growing demand from these various groups. As consumers shop more and more with health and ethics at the forefront of their minds, plant-based products afford an easy and intuitive solution. Plant-based startups are able to harness this incredible opportunity, and get out ahead of the competition from the get go.
And while this baseline advantage has great potential for plant-based companies, it is not enough to passively count on its effect on sales and consumer loyalty – active, strategic effort needs to be made to maximize its impact. This is one of our specialities at PlantBased Solutions. We are extremely well-versed with the many audiences in this marketplace and we know how to harness the interest of those baseline advocates most effectively, while also expanding and deepening brand awareness among those who fall outside such groups.
Imagine having the support of these three significant groups of consumers, while also having the strategic backing to convert their interest into loyalty and advocacy for your brand, and to expand appeal to groups far beyond. This is the power that PlantBased Solutions branding and marketing brings to its clients.