Ep. 177 – How to Systematically Analyze Food Trends, and Apply It with Purpose with Eric Pierce, VP of Business Insights at New Hope Network

Eric Pierce analyzes hot trends, consumer behavior, and innovative breakthroughs and collects this data to help natural product industries strategically innovate.

If you guys don’t know, the New Hope Network is at the forefront of the food industry as they are the ones in charge of Expo West, Supply Side East, and many more industry conferences throughout the world.

I was fortunate enough to meet Eric during my shift at the Better Meat Co in Expo West. I was so excited to see him because I’ve listened to Eric speak a few times, especially on podcasts such as Alex Oesterle’s Food Marketing Nerds. The way Eric talks about trends and breakthroughs is insightful and digestible.

So this is the basis of this interview. I ask Eric how can we understand trends, such as Turmeric, CBD and plant-based foods. Is there a deeper context when trends emerge and does knowing this, create better products? Well, you’ll learn a ton about just how deep, the rabbit hole goes.

We talk about macro forces and trend hierarchies in this episode. If you’d like to learn more about this, the data is not yet available, and I was fortunate to get a beta version of it before the interview. However, you can learn more about it by reaching out on New Hope’s Contact page www.whatsnextinnatural.com/contact/

About Eric

Eric J. Pierce is a strategic marketing and market research professional who brings business management experience and consumer behavior perspectives to his work. Specializing in helping businesses develop strategy and identify and prioritize opportunities; Eric is sought after as a speaker at industry events and for corporate training. Eric' s passions lie in the intersection of consumer behavior and business strategy within the Natural Products industry. These passions are focused on helping companies navigate the dynamic and changingfood system, helping to re-imagine brands, inspire product innovation, and focus business investments with an eye towards meeting the needs of the food-forward consumer. 

At the New Hope Network Eric and his colleagues on the NEXT Data & Insights Team and sit at theforefront of the Natural Products industry, well positioned to identify the cultural forces and trends creating opportunity in this exciting and evolving marketplace. Together we help companies large and small identify, prioritize and take advantage of opportunities in the evolving food economy.

Sponsor

This episode is sponsored by Salt of the Earth. During IFT, I went to their booth. They were serving vegetarian meatballs and mac and cheese using Mediterranean umami. I would say, it was probably the best meatball made of pea protein I’ve tasted. Mediterranean Umami brings a rich, savory component while being clean label and reduces sodium and made with simple ingredients such as tomatoes, sea salt, seaweed, and mushrooms.

Ask my friend David for a bottle of Mediterranean Umami any time by emailing  info@salt.co.il

Show Notes

Alex Oesterle: Eric Pierce interviews In a sentence or less: Use data and marketplace intelligence to impact food and have food companies make better decisions Official Job Title: Vice President of Business Insights with the Next data and insights team New Hope Network Our trade shows: Natural products east, west, NBJ summit, Supply-side east and west Expo West Expo West Stats: 35-3700 exhibitors 90,000 pre-registrations during the show We basically build a city in a week How do you handle Expo West?: Wear great shoes. But seriously, it’s very hard. You might have to go multiple times New Hope was founded in 1975 Turmeric: For innovators, look at the broader context. Articles about throwing trending ingredients into products Suggestions for innovation: take the time to understand why hot things are relevant. Does this hot product CBD: Irrational Exuberance? There’s a lot of hype and excitement. We’re going to see a huge amount of time and money go into this Cauliflower as a grain replacement What are the catalysts to make more meaningful trends?: I see the momentum to see a more sustainable trend How do we know what trends (like plant-based meat) will take off?: Look at the series of things that are happening, but it is extremely difficult to find the tipping point. There are so many things surrounding a solution in hindsight. Look for products that are solving a lot of problems Better Meat Co How many “and’s” can you count and if there’s a lot, there’s a bigger chance it will work What got you into what you do?: Goudy’s farmer’s market: When I changed the banana prices from 0.29 cents to 0.19 cents and I was perplexed how people reacted to it I got a degree in marketing at the University of Wisconsin. I found out about market research through college What is something in the food industry you’d like to know more about?: Agriculture The Wizard and the Prophet The Road to Survival Kiss the Ground – Josh Tickell What advice would you give to people entering the industry?: Find yourself in it, give yourself to it Where can we find you for advice? whatsnextinnatural.com newhope.com Eric J. Pierce at New Hope Linkedin

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