Abstract
Evolving consumer preferences challenge dominant business logic across industries in this digital era. The dominant logic in the Food and Beverage (F&B) industry, which exploits legacy products with minor continuous improvements, is being challenged. Incumbents must pursue frequent F&B product innovation to satisfy evolving consumer preferences. However, their business models constrain the capability and agility for frequent innovation. This case study documents TagTaste’s journey in transforming the F&B industry by addressing the constraints. It developed a platform ecosystem, data-centric assets, and frameworks to undertake frequent F&B product innovation. Its novel sensory data assets and frameworks translate an F&B product into data points for assessing consumers’ product perception. Through the integration of data-centric assets and frameworks into its platform ecosystem, it has developed a novel Food and Beverage Knowledge as a Service (FBKaaS) model to foster frequent F&B product innovation. After successfully transforming F&B product innovation through FBKaaS, it aims to disrupt the F&B industry by scaling up through two key initiatives. Firstly, it aims to democratize F&B product recognition, and secondly, it aims to enhance operational efficiency through algorithmic management. This case provides insight into digital transformation, data analytics, platform ecosystem, disruption, and F&B innovation.
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