The only dairy left in New York City has learned that innovation and market anticipation are its keys to the future.
According to the Wall Street Journal, “The great-grandson of the founder of Elmhurst Dairy, the only milk-processing plant left in New York City, Cyrus Schwartz now runs an affiliate of the dairy called Mountainside Farms. Despite increased competition by larger dairies and superstores, he says he's been able to increase his company's revenue by 20 percent a year by venturing outside the traditional milk market and anticipating new trends.”
The dairy is now rolling out Evolve Kefir, a low-fat, cultured smoothie drink, which is similar to yogurt. So far, the product has met with significant success, with additional market share ripe for the picking.
Schwartz says his company is more “nimble” than retail giants, allowing him to see sooner whether a product is going to be a hit or a miss. And he says he will continue to search out new products to try.
Source: Wall Street Journal