Welcome back, you marvelous miracles of market research! Market Research 101 is back in session, and, having already talked about customer intercepts and panel surveys, it's time to move into focus groups. People often confuse focus groups and panel surveys--we are here to sort out the difference.
How hot is it? Consider some numbers: Since 2000, US sales have grown by 150%, which is more than the sum growth for all other condiments combined (yes, all of them: ketchup, mustard, mayo, BBQ sauce…). In 2015, Euromonitor noted that sales of hot sauces grew at nearly twice the rate as other packaged goods writ large. Spicy products have a 20% compound annual growth rate over the last 10 years. Oh, and as of last count, more than half the American population has at least one bottle of hot sauce in their fridge. All this means that, within the next five years, hot sauce will be a $1.65 billion industry.
People have been mixing Coke into their cocktails since time immemorial, from the familiar Jack and Capitan combinations to the less famous Kalimotxo. But never before has Coca-Cola gone ahead and poured the booze in for you, but all that is about to change with their recent announcement that they bravely are entering the Japanese “alcopop” market. Indeed, the beverage giant is going to start producing what is known as “chu-hi” in Japan—a canned mixture of grain alcohol and sparkling water.