How PepsiCo scours restaurant menus and tweets for consumer trends - Business Insider

PepsiCo is keeping tabs on consumer preferences by monitoring tweets, restaurant menus, and other online sources with the help of startups like Black Swan, Chief Insights and Analytics Officer Stephan Gans told Business Insider.

"To me, the pandemic has made these tools more useful," Gans said in an interview with Business Insider. "The main reason is that the pandemic has rocked everybody's foundations in life." The approach has led PepsiCo to develop new products and consider areas for expansion during the pandemic. Last week, PepsiCo unveiled a series of new concentrated flavorings from its seltzer brand Bubly that can be added to homemade seltzer from its SodaStream machines. Bubly Drops, in flavors like lime and blackberry, were developed after Gans' team saw customers posting online about frequent use of seltzer makers in lieu of drinking away from home.

PepsiCo likely wouldn't have spotted that trend if it had only used traditional consumer research, which relies on interviewing consumers directly about their preferences, Gans said. While consumers had learned about seaweed, they might not have known enough about it to talk about it in a more formal survey setting.

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