Bill Goetz

🚨FOOD INDUSTRY NEWS🚨 PepsiCo has reported quarterly earnings and revenue that beat analysts’ expectations, despite weaker U.S. demand caused by Quaker Oats recalls and backlash to higher prices for its drinks and snacks. Shares of the company fell more than 2% in morning trading. Earnings per share: $1.61 adjusted vs. $1.52 expected. Revenue: $18.25 billion vs. $18.07 billion expected. 🥤 #pepsico #earnings #inflation #foodindustry #newsletter

In 2024, you shouldn't need a PhD in #deductions and distributor policies to launch (profitably) on KeHE Distributors. 👇 We walk through the major costs and best practices for #CPG brands distributing through KeHE, and the Confido team is here to support brands every step of the journey. https://lnkd.in/eynMt4RQ

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How many of you, at least on occasion, shy away from intimidating things? Admit it. We’ve all been there. I’ve been there. It’s simply human nature to prioritize things that come easy to us. To do otherwise, to push yourself outside your comfort zone, takes determination, focus, often with a goal in mind, and perhaps even some serious grit. Cathy Huyghe (CEO at Enolytics) wrote a truthful, transparent piece about how wine and data both fall into this “intimidation camp”. They’re scary to many because they’re unknowns. They’re going to take time and effort to get to a general baseline understanding, and only then can you really mature in your comprehension to where it starts bringing you value and joy. As a winemaker turned technologist, I am already an outlier. The importance of data-driven winery operations was always painfully obvious to me. In the early years of InnoVint, I was perplexed by how many modern wineries were resistant to even have a conversation with me about technology. “Why would someone leave winemaking to start a software company?” I was an anomaly. They were shocked by the career decision. The sentiment was that wine producers “don’t speak data.” Why would they need to? Today, those that are winning in wine absolutely do, and honestly, it’s an easier language to learn than ever before. During the last 10 years running InnoVint I’ve seen progress, albeit not as much as I’d like to see for the sake of our industry. There's so much good wine these days, so how do you stand out and continue to grow? You need to put data to work for you - to drive business efficiencies, to target and woo consumers in ways that have shown repeatable success, to accurately understand your financial health, and so much more. Don’t shy away. Lean in. Cathy agrees by saying “I am concerned what will happen if we as an industry continue to procrastinate around applying the most up-to-date technologies to our business challenges.” You simply can’t afford to be left behind. Put forth the time and effort to get over the first big learning hump. I promise the view from the top is quite nice, and you’ll really enjoy the pick up of pace cruising down the other side passing others by. https://lnkd.in/g_6rS8rS

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This study sheds light on the evolving consumer drinking habits over the past four years post-COVID-19. The research highlights the profound influence of health and wellness concerns on altering drinking behaviors across all age groups. For more cohort-specific insights, check out the study here: https://lnkd.in/gJ5ED32f

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Need a boost of inspiration for your day? Give a listen to this week's Digital & Dirt podcast and hear a discussion on growing your marketing in the food industry.

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Is Hormel Foods prepared to tackle the challenges of inflation, supply chain disruptions, and shifting consumer preferences? Jim Snee, CEO of Hormel Foods, offers insights on the company's strategies to navigate these issues. Learn how they are adapting, building partnerships, embracing sustainability, and leveraging technology in this volatile landscape. #FoodIndustry #SupplyChain #ConsumerPreferences

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Full volume recovery for #packagedfood could take upwards of 18 months as consumers struggle to adjust to higher prices due to #inflation -- requiring #CPG companies to be more flexible and reinvest in their brands as they did during the pandemic, and forcing shareholders to practice patiences, warned General Mills CEO Jeff Harmening at Bernstein's 40th Annual Strategic Decisions Conference late last month. "#Investors have been waiting with bated breath and maybe more than a few members of management teams as well" for volumes across the packaged food landscape to recover after falling alongside rising prices in recent years and after cutbacks in #SNAP spending in March 2023, he said. And, they likely will need to wait a bit longer .... https://lnkd.in/eCjKu7z7 #foodnews #foodandbeverageindustry #CPGindustry #sales

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One in five consumers who purchase frozen food items usually buy a store-brand product, and that figure is growing, according to “The Power of Frozen 2023” report from the American Frozen Food Institute (AFFI) and FMI- The Food Industry Association. The big factor turning the eyes of consumers toward private label products, unsurprisingly, is price. While private label and national-brand frozen products each saw unit share erosion in 2023 — down 3% for private label and down 5.4% for national brands — both segments saw dollar sales grow 7.7% during the prior year. Also notable is the rather weak brand loyalty that consumers have within frozen food despite the category’s having some long-standing national brands. The AFFI report found that 20% of consumers usually purchase private label frozen food products, while 16% said that they prefer national brands. Nearly four in 10 said that brand preference varies by item, and 26% had no brand preference. | Progressive Grocer https://lnkd.in/gFZEj_j3 #retail #supermarkets #frozenfoods #storebrands #privatelabel #consumers

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Next Tuesday, I will share insights from our new Operator Forecast and Outlook Program. This webinar is free to restaurant operators and will provide a preview of the intelligence this new program offers, which spans industry financial forecasts to quarterly research into how consumers and operators are responding to the major macro-economic forces of the day. In the presentation, we will cover our forecast for the next two years, how operators plan to manage their costs and how consumers have adapted to menu inflation. I hope you can join us!

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Functional Foods Find Increased Favor Among Consumers: As standard snacks and beverages attempt to hold consumer loyalty, functional foods and healthier beverages are gaining popularity among health-conscious consumers. More people are questioning ingredients and opting for a cleaner, simpler option according to consumer research reports. https://lnkd.in/eABW4ycV #food #foodtrends #2024 #foodtrends2024 #2024foodtrends #consumers #foodandbeverage #healthier #healtheroptions

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CMOs have long served as chief dot connectors, and they can use the strength of their cross-functional and often cross-geographic relationships to help drive effective change. CMOs have always had accountability for the brand promise, and the challenge has been to deliver that brand promise across a customer journey owned by many other functions — from supply chain to customer care. The reality causes marketers to adapt as leaders and become strong integrators of experience across the organization. The nature of a CMO’s job requires strong leadership and cross-functional collaboration, preparing them uniquely as leaders for broader transformation efforts. #chiefdotconnector #transformation #leadership

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Despite the prevailing gloom and doom in the trade press, there's a silver lining for many adult beverage brands. They're not just surviving; they're thriving with double-digit growth and more! This article examines adult beverage brands' strategies to thrive in the current market. https://lnkd.in/gFS2xgi9

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Although a recession loomed in 2023 and continues to be a concern in 2024, Datassential expects that there will be overall positive GDP growth in 2024. Consumers will continue to spend and that spending makes up the majority of GDP. This positive growth in overall spending is a major factor in why foodservice industry spending will also continue to be positive in real terms (though lower than pre-COVID historical real growth). #MarketTrendsUpdate #FrostyAcresBrands #Datassential #Growth

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Navigating the intricacies of grocery and foodservice shipping can be a challenge. Learn more about how OD can alleviate the complexity of the receiving process: https://odfl.us/4bncOsA.

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After making big capital spending plans for 2023 — and underspending those budgets — food & beverage processors are proceeding at a more normalized pace. 2024 appears to be setting up as the year to address 2023’s unfinished business. Read the full article below. ⬇ #capitalspending #foodprocessors #beverageprocessors #foodprocessing #foodnews https://lnkd.in/gJ4aJ8MB

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I am continuing to track this transaction! I remain confident that the enhanced divestiture package will continue to add value. I anticipate improvements in pricing discipline, enhanced customer responsiveness, and, ideally, a more diverse product mix achieved through new market penetration. The deal appears advantageous, and I am optimistic that post-merger, we will witness: "lower prices and more choices to more customers [to] secure the long-term future of unionized grocery jobs." The Shelby Report #kroger #albertstons #divestitures

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Beverage #alcohol consumers are looking for variety and Gen Z consumers aged 21+ are driving #innovation in flavor, format, and packaging. 🍸 Ready-to-drink (#RTDs) cocktail and hard seltzer sales are softening, but these convenient products hold broad appeal among age and household income cohorts. 🍺 Beer sales remain strong in the convenience channel. 🥤 Soft drink brands crossing into beverage alcohol are trending, especially with younger adult consumers. 🍒 Gen Z preferences in non-alcoholic beverages, such as energy, fruit flavors, and added benefits, can inspire innovation in beverage alcohol. Download our new report for a deep dive into the robust beverage alcohol market: https://lnkd.in/dMQwZZJw #foodandbeverage #cpg #cpginsights

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