Amrit Richmond is an independent strategist who consults with brands, investors and technology companies on consumer packaged goods insights and market research through Supermercato. She also the co-organizer of Indie CPG that creates content and community for founders of food, beverage and wellness brands.
Despite the many challenges emerging brands are facing currently, she is optimistic about the year ahead.
“Retailers are finally bringing on new innovation in the last six months, brands with product market fit are quietly being funded, and, alongside inflation, consumers continue to prioritize healthier products that either make them smile, are a pure nostalgic delight and/or help them get through the day like a superhero sidekick — something to help us wake up, sustain energy, relax in the afternoon or aid sleep,” she said.
In this episode of Well FEd by Food Entrepreneur, she provides perspective on the product trends that will gain traction in 2023, including what she described as “functional nostalgia,” sophisticated non-alcoholic beverages and a continuation of collaborations and co-branded launches.
She also shares highlights from the Winter Fancy Food Show, held Jan. 15-17 in Las Vegas. Additionally, she offers tactical insights on product development, fundraising and channel strategy.
"Retail should be a growth engine, not a last resort," she said.
Tune into this episode of Well FEd by Food Entrepreneur for an insightful discussion on the food trends and brands to watch this year.