Are CPG Companies Ready for the Next Wave of Innovation? The latest Boston Consulting Group (BCG) article sheds light on a crucial issue: CPG companies have been relying heavily on lower-risk strategies, but now is the time for a pivot. The numbers are telling - 79% of CPG c-suite executives cite innovation as a top 3 priority for driving growth and mitigating risks. Yet, performance metrics indicate a gap between intention and action. A key takeaway from the article resonates deeply with our work at Illuminate Growth Partners, "As M&A costs rise and success becomes more challenging, CPG companies must embrace a broader, more dynamic approach to growth. Consumers expect it, retailers depend on it, and shareholders demand it." To bridge this gap, BCG suggests 3 critical practices: 1. Invest in Innovation Talent: Building and nurturing teams that drive innovation. 2. Expand Beyond Core Offerings: Diversify to meet evolving consumer needs. 3. Leverage New Tools: Use transformative techniques to accelerate growth. At Illuminate Growth Partners, we’re seeing these strategies in action. Our clients are increasingly focused on innovation, and we’re stepping up to help to bridge this gap: - Fractional Innovators: Placing top, experienced talent to strengthen innovation teams and drive cutting-edge solutions that keep brands ahead of the curve. - Brand Growth Strategies: Refreshing and expanding product pipelines to meet evolving market demands for both the short and long term. - Agile Implementation: Bringing new ideas to market faster and more cost-effectively to create a competitive advantage. As the landscape shifts, how is your brand evolving its innovation strategy? Read the full BCG article for more insights: https://lnkd.in/gsRgjjwv
Illuminate Growth Partners
Business Consulting and Services
San Francisco Bay Area, CA 535 followers
Sparking business growth through strategy, innovation, and go-to-market success.
About us
Illuminate Growth Partners are experienced strategy & innovation consultants focused on launching & building strong brands. Our mission is to help food & beverage companies uncover breakthrough opportunities and propel their brands to new heights. We thrive on cutting through ambiguity and delivering immediate impact for clients with a results-driven approach.
- Website
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https://www.illuminategrowth.net
External link for Illuminate Growth Partners
- Industry
- Business Consulting and Services
- Company size
- 2-10 employees
- Headquarters
- San Francisco Bay Area, CA
- Type
- Partnership
- Founded
- 2023
- Specialties
- Consumer Research, Competitive Analysis, Capabilities Evaluation, Market Assessment, Ideation & Brainstorming, Growth Strategy, Portfolio & Pipeline Dev't, Stage Gate Process Design, Commercialization, Innovation Strategy, Product Development, Concept Development, Go-To-Market Strategy, Product Innovation, Branding & Marketing, CPG, and Food & Beverage
Locations
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Primary
San Francisco Bay Area, CA, US
Employees at Illuminate Growth Partners
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Mario DiFalco
Igniting Growth | Building Brands | Founding Partner of Illuminate Growth Partners | Small to Midsize Food & Bev/CPG
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Kim Lopez-Walters
Founding Partner of Illuminate Growth Partners | Igniting growth & building brands with unparalleled agility | Small to Midsize Food & Beverage…
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Kristine Duffy
Innovation Consultant | New Product Development Expert | Brand Marketing Leader | Travel Advisor
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Jackie Bigford
Partner at TheSocialArchitects
Updates
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Take a quick read! 👇
Igniting Growth | Building Brands | Founding Partner of Illuminate Growth Partners | Small to Midsize Food & Bev/CPG
This article is spot on... Food & Beverage brands are at an inflection point. Inflation-driven price increases are behind us and consumers are demanding more value, not short term discounts &/or smaller packages. What are you doing to enhance the value proposition of your brand? - developing new & unique benefits? - offering superior performance? - delivering higher quality and/or better-for-you ingredients? #innovation #emergingbrands #illuminategrowthpartners https://lnkd.in/gxiRpE8f
Brands beware - frustrated US consumers are pushing back
just-food.com
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We'd love to hear your thoughts on this! 👇
Igniting Growth | Building Brands | Founding Partner of Illuminate Growth Partners | Small to Midsize Food & Bev/CPG
Many factors have led to some of the lowest levels of food & beverage innovation in decades. We're all experiencing them in some way or another, from supply chain challenges, high interest rates and/or shifting consumer demand. I'm interested to hear what's been the biggest obstacle for innovation with your brand, and if you see innovation investment increasing, decreasing or staying the same as we finish the year and plan for 2025. Let me know your thoughts in the comments! https://lnkd.in/gGer7Wcf #innovation #emergingbrands
Innovation on hold
foodbusinessnews.net
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Illuminate Growth Partners reposted this
Dive deep into why people follow, engage, buy, and break up with brands on social—and build customer relationships that last.
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Illuminate Growth Partners reposted this
𝐀𝐈-𝐏𝐨𝐰𝐞𝐫𝐞𝐝 𝐈𝐜𝐞 𝐂𝐫𝐞𝐚𝐦 𝐑𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧 Dice Cream Robotics has emerged as an innovative leader in the food industry, pioneering completely autonomous ice cream vending machines. Their revolutionary parlor model features Dicey, a robotic arm, along with his minions, who assemble the ice cream, toppings, and sauces, delivering one of 144 combinations in less than 40 seconds. Equipped with a cutting-edge, AI-powered customer interface, Dice Cream’s self-sufficient solution helps lower labo and real-estate costs, helping to improve the slim margins of the $70 Billion ice cream market. As they continue to innovate, Dice Cream is crowdfunding on StartEngine, offering you a chance to claim a stake in the future of the food industry. Ready to participate? Participate Now! https://lnkd.in/ddVnvYmu #aiforgood #robotics #paidad
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Illuminate Growth Partners reposted this
Optimist, New York Times bestselling author of "Start with Why" and "The Infinite Game", and founder of The Optimism Company
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Welcome Kristine Duffy to the Illuminate Growth Partners team! Kristine brings a wealth of experience in brand building and innovation, having collaborated with us on various projects for the past 15 years. Her impressive career spans marketing leadership at Nestle and Dreyer's, along with consulting for renowned companies like Central Garden & Pet, Del Monte Foods, and Big Heart Pet Brands. Kristine's strategic mind, results-driven approach, and proven track record in launching transformative innovation make her a perfect fit for our growing team. And... she's already diving in with an exciting project – stay tuned for more! #BrandBuilding #Innovation
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The title of this article says it all. Consumers' desire for healthier, more sustainable products continues to grow. CPG brands are renewing their appetite (and investment) for innovation in order to meaningfully grow and stay ahead of the competition. Illuminate Growth Partners provide clients with added flexibility, innovation capabilities, and a true competitive advantage. From advisory services, custom projects, and fractional resourcing, we have solutions for any client need. Contact us at [email protected] to learn more. #innovation #emergingbrands #illuminategrowthpartners https://lnkd.in/gdUNY9ey
Now is the time for brands to elevate the innovation game
foodnavigator-usa.com
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Illuminate Growth Partners reposted this
Igniting Growth | Building Brands | Founding Partner of Illuminate Growth Partners | Small to Midsize Food & Bev/CPG
A good, quick read on a fast-growing trend we're seeing - requests for fractional innovation leadership and project management support. In today's challenging business environment, companies large & small are seeing the benefit of fractional support (vs hiring FTEs) to help set strategy & process, as well as drive projects to completion. Bringing on battle-tested experts with deep experience in fast-paced environments allows them to more quickly and efficiently achieve their goals. Illuminate Growth Partners has an expanding group of partners that assist across innovation, brand marketing, consumer insights, go-to-market strategies, and more. Check us out at www.illuminategrowth.net. #innovation #illuminategrowthpartners https://lnkd.in/gjm_zfQE
How small businesses benefit from partnering with ‘fractional’ executives to boost sales and marketing strategies
inquirer.com
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Illuminate Growth Partners reposted this
Igniting Growth | Building Brands | Founding Partner of Illuminate Growth Partners | Small to Midsize Food & Bev/CPG
As we saw at Expo West earlier in the month, food & beverage innovation is heating up. Given staffing practices over the past couple years, many companies are significantly resourced constrained as they try to harness new tools and create agile solutions to meet evolving consumer demands. Illuminate Growth Partners have innovation experts who can fill gaps on your team and/or successfully help you execute projects to completion. DM me to learn more! #innovation #outsourcedinnovation #illuminategrowthpartners https://lnkd.in/gsbfMmVw
Product innovation heating up in 2024
foodbusinessnews.net