The Role of Open Innovation in Shaping the Future of Food
5 MIN
- Traditional research just doesn’t cut it anymore—the food industry needs faster, fresher ways to get insights.
- Open innovation platforms connect food brands with Gen Z and Millennials to co-create products that actually resonate.
- Discover five ways open innovation is helping the food industry stay ahead and keep ideas moving forward.
One thing we know for sure at MindSumo: Traditional research methods no longer cut it in today’s food industry.
With 30,000 new food products launched each year—and a staggering 95% failure rate, according to Harvard Business School—it’s clear the industry needs a better way forward.
The solution: Stop guessing what consumers want and start asking them directly.
Open innovation platforms like MindSumo bring food brands directly into conversation with their Gen Z and Millennial consumers, enabling collaborative product development that truly resonates with these major demographics.
5 Ways Open Innovation Supports the Food Industry
Let Consumers Shape Your Next Big Product
Imagine developing products that consumers are excited about before you invest millions in production. That’s exactly what MindSumo makes possible—by facilitating real conversations between your brand and your most influential consumers: Gen Z and Millennials.
When consumers are involved from the start, something powerful happens. You build a sense of ownership that turns customers into collaborators. Bottom line: They’re actively helping your brand succeed.
Identify Trends Before They Take Off
Food trends now emerge and spread at lightning speed. A recent YPulse survey found that 44% of Gen Z discover new products on TikTok and Instagram—before they hit store shelves. Traditional research simply can’t keep up.
MindSumo’s platform helps brands catch these trends early by examining thousands of real consumer conversations. Food companies gain access to real-time insights, allowing them to innovate proactively and create products that match the ever-changing preferences of younger consumers.
Test Ideas Before Betting Big
Launching new products is expensive and risky. But what if you could validate ideas with your target audience before making a major investment? MindSumo enables you to test concepts early, gather honest feedback, and course-correct in real time.
As a result, products that are more likely to succeed because they’ve already been shaped by the people who will buy them. Think of it as thousands of virtual tastemakers and focus groups, without the hassle of traditional timelines and costs.
Launch Faster, Stay Ahead
While competitors are still navigating lengthy research cycles, you could be generating actionable insights in days. MindSumo shortens the path from idea to shelf, helping you respond to market shifts with remarkable speed.
In today’s food industry, being first is a competitive edge. Innovation backed by consumer input moves faster and makes a stronger impact, which gives your brand the momentum it needs.
Build Real Loyalty (Not Just Sales)
Today’s consumers, especially Millennials and Gen Z, want more than just a product—they want to feel seen and heard. According to Deloitte, these generations are more likely to support brands that include them in the creation process.
If your consumers feel a genuine connection, they become passionate advocates who fuel both sales and long-term loyalty. In an era where authenticity drives engagement, these relationships pay off in ways traditional marketing simply can’t replicate.
Check Out: How a Global Professional Services Corporation Tapped Open Innovation for Social Impact
How MindSumo Supports Innovation for the Food Industry
With access to over 1.5 million digitally native consumers worldwide, MindSumo helps top food and beverage brands rethink their innovation strategies. This collective intelligence helps companies develop products that genuinely connect with target audiences.
Want to learn more? Check out our latest research report, “Trends in Frozen and Convenience Foods: Meeting the Demands of Modern Consumers,” which analyzes Gen Z and Millennial food shopping habits, explores preferences for convenience foods, and showcases real-world examples of successful crowdsourced product development.
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