Leaders in food & beverage consulting services
Food and beverage is one of the fundamental sectors of the world, one impacted by global agribusiness dynamics and long-term consumer trends in health, value and convenience. Throughout the value chain, manufacturers, retailers and investors are constantly finding new avenues to differentiate their offerings and deliver value to consumers.
L.E.K. Consulting has completed more than 2,000 engagements in the food and beverage industry, including over 800 engagements in transaction support for private equity firms. We are a trusted advisor to leading global corporations and investors across the food and beverage value chain, playing a pivotal role in helping manufacturers and retailers drive profitable growth and effectively manage their costs.
Achieving profitable growth is at the core of our strategic projects, and we help our clients develop and activate their growth strategies, capitalize on consumer trends, understand how to stretch their portfolios organically or move into new attractive segments through acquisition, pioneer new markets and product categories, improve operational efficiency, and optimize their expenditures.
How to Price in a Post-COVID, Post-Inflationary World
As consumers are being forced to stretch their dollars, companies have an opportunity to drive value by reassessing their pricing strategies to make them more reflective of the current macroeconomic environment. This special report lays out several pricing strategy concepts and case studies to demonstrate how consumer businesses have put best practices into action.
Bakery: An Attractive Opportunity for Modernization-Minded Investors
The bakery market faces key long-term challenges including aging equipment and facilities, yet investors willing to deploy capital can eliminate some of the inefficiencies seen in the market today and build world-class bakery operations.
Finding Success with Fresh Prepared Foods
As retailers look to compete against Amazon with fresh prepared meals that keeps their store footprint relevant, many are investing in fresh prepared food sections including deli counters, hot bars and grab-and-go foods. Supply chain and manufacturing processes are evolving to drive growth and increase profitability in this segment.
Key questions for food & beverage success
Our experienced professionals have a deep understanding of food and beverage manufacturers’ business challenges in today’s marketplace, and we encourage these clients to ask themselves a few key questions:
How do we segment our consumers in light of evolving demographics, eating occasions and need states?
What is a differentiated value proposition to delight our customers and consumers?
How do we determine which underserved consumer needs, channels and product categories we can uniquely win in, or “Where to play”?
How do we develop a successful plan to achieve those growth objectives, or “How to win”?
What is our strategic market position, and how do we leverage our capabilities to enable future growth?
What is our ecommerce and digital strategy in the evolving channel landscape and be where consumers shop?
What is our pricing strategy, and how do we optimize our prices in an inflationary environment?
How does our price pack architecture need to evolve to better meet the needs of consumers and retail partners?
How can we optimize our trade spend in light of everyday low prices, evolving channel dynamics and changing consumer sentiment?
What capabilities should we build to more efficiently acquire and integrate companies in order to capture synergies?
How should we organize our resources to capitalize on evolving consumer needs and trends?