In which we explain how the ultimate American junk food went from near-death (twice!) to a $4.6B snack. w/@bzcohen
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"Can you tell me how to get, how to get to..." #profitablegrowth? When #consumer trends find their way to #SesameStreet, you know it's real. #Shrinkflation has been a strategy in the #foodandbeverageindustry for decades, sometimes to improve #margins , other times to achieve a consumer goal like the 100-calorie snack pack. Now, #congress is potentially stepping in to regulate what is perceived as disingenous commerical tactics from big food. Watch this closely, as managing pack size is a core #revenuegrowthmanagement lever and, if controlled, will put more emphasis on other #RGM efforts going forward. Elmo Sesame Street Drew Gaputis Abigail Treworgy Slark Kristi Page Kaplan Michael Jeschke Adam Jutha Justin Cook https://lnkd.in/eYgWZJnV
Yes, Even Cookie Monster Is Upset About ‘Shrinkflation’
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A balance-sheet approach to snacking A great business story in the Wall Street Journal about the "snackification" of America underscores the resilience of Twinkies and Ding Dongs. There’s a reason why Hostess executives speak of a "balance-sheet approach" to snacking—consumers are more finicky than one would assume. The calculus of the snack aisle is a balancing act between indulgence and moderation. Snacking is no longer just a whim to be satiated; it's a carefully curated selection designed to fulfill a spectrum of needs and whims. This is why J.M. Smucker's $4.6 billion acquisition of the Hostess portfolio appears not just sweet, but shrewd. The deal also gives Smucker's a greater footprint in convenience stores, paving the way for broader distribution of its Uncrustables snacks. On a side note, despite its unpronounceable name in French, the company is sticking with it on the French side of the box. The company must be betting that Quebeckers will believe that with a name like this, it has to be good. Adam Zitney John Kotsopoulos https://lnkd.in/guRsGJ25
Why the Twinkie Is Now Worth Billions
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Got milk or something like it? There's a milk war going on over what should be called milk. Milk producers want to prohibit any food made of nuts, seeds, plants or algae from using such dairy terms as milk or cheese. Whatever lawmakers decide, the issue isn't exactly udder nonsense. It's amazing when you're ordering coffee from your local shop, and someone asks for oat milk. Gone are the days when milk simply came in regular or chocolate. Walk to any dairy section at the supermarket, and you're confronted with milk of all kinds - almond, oat, soy, coconut, macadamia, pea, and the Cheech and Chong special, hemp. There's a dizzying array of milk and milk alternatives regardless of the moo-ve. Akin to asking why the cow jumped over the moon, the debate around what should and shouldn't be called milk could have an impact on branding and a multi-billion dollar industry. In fact, the global plant-based milk market is expected to reach nearly $30 Billion by 2030. And the, um, regular milk market is poised to reach $900 billion by 2028 so a lot of hay is at stake. From a brand and marketing standpoint, milk producers want to keep the word to themselves and essentially 'milk' defines who and what they are as an industry. Yes, you've herd'em all. For the milk substitute producers, the intent is really to cash in on the goodwill and built-in understand of what milk is as confusing as that may sound. For many customers, they've grown more accustomed to pea milk than pea drink. On the surface, the argument is if doesn’t come from a lactating animal, it isn’t milk (trust me, I wouldn't run with that slogan). And plant-based milk in the scheme of things makes as much sense as saying a cow in an earthquake is called a milkshake. Whatever happens, it'll be pasture bed time by the time any decision, if any, comes down https://lnkd.in/gtd3zm3m #milk #dairy #brand #plantbasedmilk #plantbased #marketing #business
Team Cow or Team Soy: The Milk Wars Roiling America
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Incredibly interesting article from The Wall Street Journal. In a nutshell: - Plant-based milk is rapidly becoming more popular than cow's milk. - Diary companies are fighting back with a range of satirical/pointed adverts towards the alt-milk industry. - Plant-based milk still has a long way to go if it wants to catch up to the $$$ of cow's milk. #plantbased #cows #dairyindustry #milk https://lnkd.in/dUKEGW54
Team Cow or Team Soy? The Milk Wars Roiling America
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A STORY OF GREED So, let me get this straight. Supermarkets and others engage in a methodical campaign and course of price gouging by raising prices over 40% over the last several years ( no other way to say it, since the higher prices could not have been because of inflation as indicated below. The U.S. inflation rate for 2022 was 8.00%, a 3.3% increase from 2021. U.S. inflation rate for 2021 was 4.70%, a 3.46% increase from 2020. U.S. inflation rate for 2020 was 1.23%, a 0.58% decline from 2019. U.S. inflation rate for 2019 was 1.81%, a 0.63% decline from 2018. The only conclusion I can reach from price hikes of 40% is just plain greed on the part of the supermarkets and others during the past several years because of a corporate culture (not unlike the political culture of our day) that cares more about profits (fundraising) and shareholders (special interests) rather than the consumer (constituents).
Food makers, restaurants are rolling out deals again--but prices are up around 40% from pre-pandemic levels, making for more sting and less sweetness. Consumers look to conserve their pennies and food makers hope discounts will bring back eaters. https://lnkd.in/gHSAMFDk
Food Is on Sale Again. You Might Still Have Sticker Shock.
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President | Consumer Insights & Innovation Strategist | Author | Unlocking Joy To Drive Profitable Growth | Keynote Speaker, CSP | Ideation Facilitator | Trusted Media Guest & Contributor | Rower
Heather Haddon Our Sept data shows a statistical shift in anxiousness that is negatively impacting consumer spending. 57% cooking more at home and 40% buying more store brands. Once restaurants have taken pricing, you cannot take price down. It never works. Why? 1) With pricing, the traffic is down as you have lost people. The industry as a whole has gotten too far ahead of consumers. 2) When you discount, then you create a check average problem. 3) You train consumers to only buy when there's a discount/deal. 4) It's a vicious doom loop and for many becomes an unrecoverable death spiral. If you can get it figured out, the next regime will. The industry has a traffic problem that can only be solved by making the experience "worth it" - whether dine-in, drive-thru or delivery. #discounting #inflation #innovation #economics
Food makers, restaurants are rolling out deals again--but prices are up around 40% from pre-pandemic levels, making for more sting and less sweetness. Consumers look to conserve their pennies and food makers hope discounts will bring back eaters. https://lnkd.in/gHSAMFDk
Food Is on Sale Again. You Might Still Have Sticker Shock.
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Loving this WSJ piece about the Condiment Craze! 🍯 If you're a retailer looking to keep up with the latest trends, let's talk! As a self-proclaimed #CondimentConnoisseur, let me give you the scoop on what's hot and what's not in the world of condiments. Join the #RetailRevolution and give your customers the #TrendyTaste they're looking for with the latest and greatest Fancy Schmancy Condiments. Let's make your shelves stand out! 💥 #CondimentTrends #RetailInsights #ConsumerPreferences What are your favorite condiments? ️ Share your thoughts in the comments below! Whether you prefer classic options or enjoy exploring unique flavors, I'm interested to learn what condiments you find most enjoyable.
America’s Condiment Invasion Is Dividing Households: ‘I Want My Fridge Back.’
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Happy #FridayFive everyone! 1. There's no question that condiments can be one of the hardest working horses in your back of house. But, has our love of condiments gotten a bit out of hand...and, if so, will there be a looming backlash? This article from The Wall Street Journal lays out the love and the angst around the plethora of condiments we've embraced. https://lnkd.in/eA6RZcxT 2. And speaking of a category with endless options and reasons to love, sandwiches have really never been out of favor. That may be a stretch, but only slightly. Want to get a virtual taste of sandwiches from history. Well, I give you a social media account that is offering you just such an opportunity. (https://lnkd.in/eyEmuP2S). I have to admit, I don't know that I'm down with the ham & sardine sandwich of yore. 3. I was in San Francisco this week leading an immersion, and I have to give a heartfelt shout out to several of the operators who offered some of the best hospitality I have experienced recently. Teresa and Joseph Ahearne at El Porteno Empanadas proofed decisively that hospitality is not owned by fine dining or even full service (not to mention their empanadas are to die for). The staff at Tartine Bakery Manufactory went out of their way during a busy time. And Michael Aldridge and the staff at Wildseed embodied hospitality by quietly and professionally anticipating needs, shifting to accommodate changing needs, and making us feel incredibly welcome. 4. If you're wondering what's new in the animal protein space, feast your eyes and your professional curiosity on the first 3-D printed octopus alternative, The Kraken (great name). I'm still of the opinion there are greater opportunities for these types of alternatives with seafood than with other proteins, but there's such a tension between 3-D printing and the amount of processing required versus the demand for more natural, whole ingredient solutions. Time will tell, but the innovation will absolutely not slow down. https://lnkd.in/ePzshRev 5. Let's wrap this up with some of the truly wacky food-related or food-adjacent stories this week. From shrimp Jesus (https://lnkd.in/eR86Em8b) to a croissant burglar with a penchant for yoga (https://lnkd.in/eGvpAaHr), there was some truly strange stuff happening. #innovation #trends2024 #consumerinsights #foodandbeverageindustry #restaurants #cpg #condiments #hospitality #foodservice
America’s Condiment Invasion Is Dividing Households: ‘I Want My Fridge Back.’
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While it is always a good time talking acceleration of trends, talking acceleration of price points is...less so. "The smallest available lattes at chain brands with over 250 locations cost a median of $6.82 in the fourth quarter of 2023, according to food and beverage analytics company Datassential. That’s a 110% jump from the $3.25 they cost in 2019. " https://lnkd.in/gTav4uiA This median is driven by one chain (no it is not Starbucks, no I will not say who it is), but there is no denying prices went up. Some of this is how we've changed since 2019, and some of it is other nuances. This is the smallest MENUED item and sometimes chains remove small items for menu board space. Additionally our reference point may be a fast food machine latte, but we are just as likely to try the new Lavender Oat Milk Latte (I tried the new one from Starbucks yesterday, the BEST lavender latte I've ever had and...I've had A LOT). Flavoring ups the price, I'm likely to level up to that medium now that I realize it is only $0.xx more for usually four ounces more, I probably use an alternative milk now sometimes, all factors that mean my latte costs more. Beyond that the price point has hardly shifted at independents, if you want a deal without downloading an app support your local cafe, full stop. If you still want your chain specific offering and at a lower price point download some apps, show your loyalty, and at least in my experience the chains will reward you.
We Still Don’t Believe How Much Things Cost
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The new power move for A-listers and executives is getting through the day without caffeine, according to the The Wall Street Journal. Bryan Johnson, founder of payments platform Braintree Venmo and nutrition program Blueprint, says “sleep is the new coffee.” Mark Cuban drinks decaf in lieu of the hard-hitting variety. As consumers are becoming more health conscious, they're starting to take a harder look at all the "drugs" they're consuming from alcohol, to sugar and now caffeine. For me, cutting caffeine has been one of the biggest game changers in my health journey. Before, I was unconsciously addicted, consuming nearly 1000 mg of caffeine or 8 cups of coffee a day, and constantly struggled with stress, anxiety, gut issues and poor sleep. Now, I focus on getting *real* forms of energy, like sleep, movement, mindfulness and nutrition, while still enjoying the ritual and flavor I love about coffee with my morning cup of Kamana mesquite. Without caffeine, I sleep better, have a healthier gut, and feel more grounded with consistent, elevated energy. At Kamana we’re on a mission to change the way we think about caffeine and help you elevate your energy, naturally. #startup #cpg #caffeine #coffee #coffeealternatives
Skipping Coffee Is the Latest Humblebrag
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