As entire industries are going through confusing times due to the global health crisis, we found it useful to discuss in previous articles about what is changing in consumer behaviour when it comes to the cookware market. These insights along with recent trends about the new forming habits of younger generations such as Millennials, underline the growing awareness and importance of providing great cookware solutions.
Global researches and studies, envisioned that the cookware industry is expected to reach a global turnover of 4.6 billion dollars by 2024. However, this was before the current situation and we do not know yet how this could affect market future growth. Especially for more developed countries, where this market is mature and not very dynamic, a crucial point to be highlighted in this area will be the ability to meet the demand for new solutions and innovation, in order to achieve greater efficiency in the kitchen.
What is the best way to meet this challenge? There are two main tools: recognizability and time-to-market.
Password: recognizability IN YOUR COOKWARE POTS AND PANS
To emerge in such a crowded market, a good practice is to choose a highly-distinctive design and to remain faithful to it over time in order to build the identity and recognition of your products. This also implies maintaining consistency of your distinctive design in future product collections. In this sense, the choice of which cookware handle to use and its design can be successful and strategic. In fact, handles can strongly distinguish the product, causing it to be immediately recognizable, even years later.
To satisfy the market’s constant demand for novelty and the request of consumers who are becoming more and more demanding, it is possible to periodically restyle your collection in a way that does not affect its discernibility, but plays on “easier” features instead, such as using new colors or different materials.
In fact, even a small variation in cookware handles can often make a difference and can offer the consumer a fresh and updated line of products, enhancing the original design, while at the same time, not affecting the identity of your brand. In addition, not altering the structural shape of the product optimizes economic resources.
An example of this would be mixing and varying the combinations of the internal and external coatings for your cookware handles, perhaps by contrasting their effects and by modifying the color and material of the pot or pan handle. These are all “soft” but successful approaches.
Time-to-market: how to be competitive
Timely production and quality are a key combination because of the competitive advantage they provide, which is the ability to quickly bring to market quality and innovative cookware products with high-quality finishes, which are able to meet marketing and consumer needs. In other words, efficient time-to-market.
The cookware market is often very demanding, particularly at peak times that coincide with regular promotions in retail outlets or with the launch of new collections in stores. We need to be timely, expert and very familiar with the dynamics of the industry.
One option that should not be overlooked is to rely on expert cookware handle manufacturers who can manage and produce large quantities of cookware parts within the set lead times, but who can ensure at the same time quality standards for each piece. Choosing wisely under this aspect will yield products free of defects or unpleasant surface blemishes.
Knowing the characteristics of production, establishing strong synergies with producers and carefully planning activities to optimally manage time-to-market is certainly a valid way to achieve important results and to stand out from competitors in the cookware industry.