You do not need big data. What to focus on?
Ignore that market report. The opportunity is big enough. Don't worry.
Stop comparing your niche brand to big drinks brands.
They want to re-learn from your agility in the streets.
Why then copying their approach in the boardroom?
Focus on: 👇🏻
I've read tens of market reports before changing approach:
once you know that the top 3 big brands in your category sell x 000's of cases / HL... what do you do with that information?
Nothing. Don't worry about something that is not really a worry.
Why?
- You are at a different price point
- You don't have nor want to have that footprint
- You have different resources vs them (i.e. money and people)
In short, you play a different game.
What to focus on?
- sell in the first pallet,
- sell out the first bottle,
- learn, adjust,
- sell the second pallet,
- repeat.
You don't need big data, you need small data.
Learn the market bottom-up not on PDFs.
Talk to bartenders, salespeople, consumers, observe shelves and backbars.
Too much data is no data. Don't get stuck in it.