Cincinnati, OH May 9, 2023 (FI NEWSWIRE) Reese’s (The Hershey Company), Lay’s (PepsiCo) and Great Value brands (Walmart) lead the “Snack 50” ranking of leading brands in the industry’s first comprehensive measure of the psychological drivers of snack brand strength and performance. The study was conducted and designed by neuro-market researchers at Alpha-Diver in partnership with The Food Institute, a leading food industry media company. The results of the study will be unveiled in an exclusive webinar hosted by The Food Institute on May 16, 2023. Webinar registration details can be found below at the bottom of today’s press release.
“While previous snack food rankings have been based on popularity polls, sales volume or reviewer critiques, the ‘Snack 50 Psych Pulse’ is the first ranking of brands based on the WHY’s of consumer behavior,” said Hunter Thurman, CEO, Alpha-Diver, the leading neuroscience-based consumer insights market research firm. “The ‘Snack 50’ is the first rating that provides diagnostics from a consumer perspective of brand performance, including: consumer to brand affinity, brand usage momentum and potential brand growth paths.”
The top 10 brands rank as follows:
“The Snack 50 Psych Pulse not only helps companies understand the underlying psychological factors that drive consumption patterns, but it also provides a robust measurement of brand strength that can help management teams drive corporate strategy,” said Brian Choi, Managing Partner and CEO of The Food Institute.
“The leading snack brands were ranked via Alpha-Diver’s proprietary Psych Pulse composite score, which combines key dimensions, including: Behavior (is consumption routine?), Emotion (how enthusiastic are consumers?) and Trajectory (what is the usage momentum of the brand?),” according to T. Sigi Hale, PhD, director of research and principal neuroscientist at Alpha-Diver.
The Snack 50 Psych Pulse provides the foundation for the rankings, including the four key dimensions of consumer decision making behavior:
- Rational: Product provides practical options that make rational sense. Top performers in order: Snack Factory Pretzel Crisps, Nutri-Grain and Skinny Pop Popcorn.
- Experiential: Brands provide new sensory experiences to explore. Top performers are: Sour Patch Kids, Starburst, and Cape Cod.
- Tribal: Brands provide social connection and agreement. Top performers are: Aldi, Great Value brands, and Lay’s.
- Instinctual: These are feel-good, impulse-driven brands. Top performers: are Slim Jim, Jack Links, and Sour Patch Kids.
In addition to ranking the leading snack brands, The Snack 50 Psych Pulse provides insights of value to brand marketers, including brand momentum for gainers and strugglers. Leading momentum gainers include: Aplenty, Happy Belly and Favorite Day. Momentum laggards include: KitKat, Ruffles, and Chex mix.
The study goes on to reveal the five leading dimensions that may be hindering brands in the hearts and minds of consumers:
Price: Does the brand offer a perceived good value?
Time: Is the brand perceived to fit daily life?
Social: Is the brand socially endorsed?
Physical: Does the brand carry negative connotations on how it will make the consumer feel?
Emotional: Does the brand carry a fear of disappointment?
The complete “Snack 50” list and topline report is available at: info.alpha-diver.com/snack50_2023
About / Methodology:
The Snack 50 rankings are based on the psychology of a U.S. representative sample of Gen Z through older Boomers living in urban, suburban and rural settings, the Snack 50 list covers brands across 12 categories that drive over $50 billion in annual sales. The study includes 51% female, 49% male, average age 45, with a median income of $50,000.
Each brand is rated and ranked using an aggregate score combining a proprietary series of psychological measures, including consumer habituation, emotional attachment, and usage momentum, which are the core factors in diagnosing, and predicting real-life purchase behavior.
The measure not only reveals WHY a brand is performing, but also areas to improve via strategy and brand activation. The underlying database and research provide clear implications as to specific actions that brand stewards can take to address issues, accelerate strengths, and drive sustained growth.
Free registration for the May 16th webinar titled Introducing The Snack 50™ – The Industry’s First Psych-Based Measurement of the World’s Top Snack Brands can be found using the link below:
Alpha-Diver is a market research firm that applies neuroscience to more deeply understand marketplace behavior. The firm’s neuroscientists and strategists work with leading brands, retailers and the Wall Street analyst community to explain, measure, and predict consumer behavior. Clients include: McDonald’s, Coca-Cola, and Kellanova, among dozens more.
The Food Institute is a global B2B multimedia company delivering insights-driven content to key decision-makers in the food and beverage industry. With a farm to fork reach since 1928, The Food Institute publishes business news, data, and trends for its global readership. Through its daily e-newsletters, articles, reports, newscasts and other digital media, members receive insights quick enough to respond to real-time issues and opportunities in the marketplace.