Joakim Wictorin – GB Foods

In this Brand Growth interview, Joakim Wictorin, Sales & Marketing Director Nordics at GB Foods, delves into the intricacies of innovation, brand growth, and the KPIs that drive success in the competitive food industry. GB Foods, a major player in the global food conglomerate arena, has its roots in Spain and has expanded its influence across various European countries, including the Nordic region.

The Importance of Brands and Local Consumer Understanding

Joakim emphasized the centrality of brands within GB Foods. ”From local management teams to the global level, the focus is always on brand building. Our strategy involves creating conditions to invest in brands, ensuring we deliver value, and differentiating ourselves from private labels. It is indeed important to understand that local consumers are paramount and that GB Foods places significant importance on local flavours, even collaborating with gastronomes for taste development.” Joakim explains.

“From local management teams to the global level, the focus is always on brand building, creating conditions to invest in brands, delivering value, and differentiating from private labels with a significant emphasis on understanding local consumers.”

KPIs for Brand Development

When it comes to measuring brand success, Joakim highlighted two critical KPIs: market share and sales. ”These KPIs serve as indicators of whether we are doing the right things, offering the right products, and maintaining visibility in the market. Additionally, we closely track awareness and preference for our products, and then link these metrics to our marketing strategies.” Joakim shares.

He continues: ”However, in the face of challenges posed by the pandemic and inflation, there has been a shift in consumer behaviour, with a focus on affordable alternatives and heightened value for quality and brand. But despite these challenges in the supply chain, I believe we have continued to be true to our strategy and invest in marketing, ensuring that our brand remains competitive in this constant market shift.”

“Critical KPIs for brand success include market share and sales, serving as indicators of the right product offerings, market visibility, and tracking awareness and preference linked to marketing strategies.”

Innovation as a Growth Driver

Innovation stands out as a key driver for GB Foods’ growth. Joakim emphasized the need to stay ahead of macro trends, including sustainability, convenience, internationalization, and health. The company’s innovation process involves rigorous sensory testing, consumer insight studies, and an emphasis on local flavours. The focus is not just on being innovative but on understanding consumers’ reactions and preferences.

”We have started to invest significantly in innovation and therefore I must admit that along the way it can be challenging to interpret the insights in the right way. Bridging the gap from insight to consumer behaviour in the market requires a nuanced understanding. On the other hand, timing is also very crucial, and being late to market or too early can therefore impact the success of innovations.” Joakim shares.

“Innovation is a key growth driver for GB Foods, requiring staying ahead of trends, rigorous sensory testing, consumer insight studies, and a focus on local flavours to understand and cater to consumer preferences.”

CSR at the Core & Future trends

GB Foods recently launched Project Earth, a comprehensive CSR initiative, reflecting the company’s commitment to sustainability. ”Sustainability is integrated into various aspects of our business, from procurement and raw materials to strategic decision-making. The importance of sustainability in consumer preferences, especially in the Nordics, and how GB Foods aims to lead in this area is therefore extremely crucial.” Joakim explains.

Looking ahead, Joakim anticipates continued changes in the industry, with sustainability and AI playing crucial roles. ” I envision AI aiding in predicting successful launches and helping us make strategic decisions based on data analysis. This fast-changing landscape requires us to stay attuned to mega-trends and adapt to consumer demands faster than ever.” Joakim concludes.