Maggie Streng

Modernizing legacy brands for a new generation of consumers is no easy feat. Earlier in my career, I was fortunate to work on teams that accomplished that for two legacy Kraft Heinz brands: Jell-O and Crystal Light. Critical to those successes were the same lessons Gail Hollander discusses in this article: * how to successfully update a brand by understanding its role in the culture and category without walking too far away from the brand truth and its DNA * creating winning marketing strategies by leveraging the art (creative thinking) and the science (data-driven decisions); and * breaking down silos to align the entire organization around long-term brand building I took these lessons I learned and recently wrote an article about how integral they also are for building successful CX strategies: https://lnkd.in/ecPhFpMz

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CPG Panel — “More than commerce”: 🔥 We are working on a mega panel (June 13) of CPG powerhouses right now including some of my great friends: Jamie Schwab (Colgate-Palmolive) Jamie Decker (Del Monte Foods, Inc.). We will be diving into the importance of driving direct-to-customer engagement through digital, not just commerce. Topics: (4) 1. First-party data strategies 2. Customer engagement 3. Omnichannel marketing 4. No doubt AI! We still have a few panelists spots remaining, feel free send me a DM or comment below if you may be interested or know some who would be great for this topic. #ecommerce #digital #omnichannel #strategy #cmo #cdo #ceo #cro #leadership #retailecommerceclub #cpg #privateequity #playtowin

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CPG Is Constantly Changing - Except When It's Not (part 8 in a series) The Role of Sales in CPG The role of sales has actually changed little since trade promotion escalated over 30 years ago - and even before then. Sales has always been charged to increase a brand's DSMP - Distribution, Shelf Position, Merchandising Support & Pricing Effectiveness to improve profitable revenue and volume. The key phrase there being 'improve PROFITABLE revenue and volume'. And trade promotion is over 25% of your gross revenue - even though a lot of it may be buried in those distributor deductions. So, what does that mean? Here are a few quick questions to ask yourselves: * Are we securing the RIGHT doors, not necessarily the most doors. * Are we finding the RIGHT everyday price point to increase profitable revenue and volume, not just what happens based on the various markups. * Have we developed the RIGHT promotional mix, not just doing what the retailer or distributor thinks is great. So, how do you get there? I constantly have heard, 'We don't want our sales folks behind a computer, we want them out selling'! Let's face it, selling in CPG requires more analytical skills than most positions. Yes, both your sales team and brokers need to be with customers, but they need a lot to most of their time developing profitable brand plans for DSMP, developing profitable customer plans, executing & revising the plans as the environment is constantly changing, and then addressing the process all over again. That's happening with fact-based analysis. And it grows progressively. So, if you're an investor, founder, owner or leader, think before suggesting your sales team needs to get out from behind a computer - instead ask them more questions on how their volume / profit mix is being addressed by brand and by customer. And on every event. Then decide.

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Hey Network: "There is no silver bullet to guarantee product adoption in the marketplace. However, businesses can implement strategies before launch to improve market readiness and increase the likelihood of securing a place in consumers' weekly dinners." If product adoption is something that your company struggles with, please listen to this episode CPG Launch Leaders featuring TPG's own Eleni Shipp and reach out to Eleni or I so that we can share strategies that can help you secure your place in the weekly dinner rotation. #food #CPG #newitems #newitemlaunch #ecommerce

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Great post from Patrick that's a great perspective for marketing today. Not that a lot of small brands have the $ for TV, etc., but addressing both the social media markets as well as key retailer opportunities. Observationally, there is also a lot of current in-store display support for their Sour Patch Kids Oreos. While many on the natural, 'better for you' side tend to take issue with brands like this, they are focused on driving a larger 'share of stomach' in an 'expandable consumption' market as we used to discuss in prior lives. A key learning for emerging brands here is that getting your brand into the store is the simple part. The key is to do it in the most economical channel and spend the $ through a very sound and thoughtful process of getting it into consumer's shopping carts and pantries. Love reading these posts regularly Patrick McDonough!

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There was a moment in last week's Roundtable when Emily Flannery declared, "that's right: beverages are officially a snack, too." The way we see category lines blurring, overlapping and/or completely falling away is fascinating, and a huge opportunity for food & bev brands with the nerve to keep up. Did you see it yet? Give the convo a watch right here: https://okt.to/XpGrUZ And if this glimpse into the future inspires you, let's chat! #futurefluent #futureofsnacking #cpgtrends

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Continued emphasis on insights and collaboration across the board for retailers and CPGs. This article speaks to the restrictions coming down from third-party cookie deprecation and data privacy laws as a primary catalyst of the shift towards insight-led collabs on the digital side of the house. Truth be told, brick-and-mortar retail is experiencing a similar metamorphosis despite not facing those same headwinds...the appetite for co-creation, shared knowledge, and collaborative testing and learning is booming. VideoMining has witnessed this first hand, in fact, as CPGs and retailers are partnering and testing together through our Behavior Lab Programs. If you have an in-store concept to test, what better place to do it than in an authentic store setting with real shoppers...am I right?

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Walmart's Great Value is #1 on this year's #Snack50 Report. In fact, the top 6 brands in this year's report are store brands from the likes of Walmart, ALDI USA, Target, and Amazon. And WMT dropped their new brand, Bettergoods, the same week we released this year's report. Per Numerator, there's major stuff happening in the store brands space, and the pace is accelerating. And because we deal not only in sales data, but consumer psychology, also in the Snack50 Report is a wealth of explanation behind the WHY of consumer and shopper decision-making, a rich forecast of what lies ahead, and the moves marketers can make to address the shifting marketplace. See the overview here... https://lnkd.in/ggz6VyJg Frito-Lay, PepsiCo, Kellanova, The Hershey Company, Mars, Mondelēz International, General Mills, Campbell's, Barcel USA, Blue Diamond Growers, Conagra Brands, Jack Link's Protein Snacks, Feastables, Utz Brands, Inc., ALDI USA, Walmart, Kroger, Target, Amazon, Costco Wholesale, Sam's Club, Perfetti Van Melle, Hormel Foods https://lnkd.in/gCi7kxc3

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Why do Duopolies tend to dominate in so many aspects of modern business and what does this mean for emerging CPG? The news last week was that The Walt Disney Company and HBO are teaming up to offer a massive streaming bundle to complete with Netflix. It seems like a very predictable cycle unfolded here…After a few years of disruptive innovation, investors started to lose patience with negative EBITDA, which results in waves of consolidation until we have a De Facto Duopoly in streaming media. Nilesh Sharma wrote an interesting article on how this is common across many industries(link in comments)…there are so many examples: Coke/Pepsi, Apple/Android, and in national retail grocery distribution UNFI/KeHE is obvious. If not for antitrust regulations, these duopolies would more often than not eventually merge into monopolies until some disruptive force comes along to change the paradigm. 👉CPG brands: take a look at national market share in the subcategory you operate in. There is a good chance that it is dominated by two brands, and if not, there is at least trend toward this outcome. 👉Is your product different ENOUGH, to break this cycle? 👉Retailers, in any given metro market, who are the dominant two mainline grocery chains in your market by total share? 👉Are you differentiated ENOUGH from them to compel consumers to change their habits? We all have one thing in common as innovators: we’re trying to break the cycle and acquire market share from what tends to be the natural order of things. In order for us to disrupt, we need to think outside the box. Slightly better versions of what already exists won’t get it done. Pod Foods has been able to take so much national share in the past few years, BECAUSE it is so radically different from the inbumbent model…the same thing is true for ANY disruptive brand. I’ll be at Sweets & Snacks Expo this week and looking forward to seeing a lot of you there. What I’ll be looking for is the product that is the MOST different from the status quo and how we can reach early adopters with it. #disruptiveinnovation #Disneymaxbundle #emergingcpg #podfoods Flowspace Total Quality Logistics Green Spoon Sales Melissa Pashko Caroline Grace https://lnkd.in/d7dYis2C

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Fresh Foods are still anchored in "stack 'em high, watch 'em fly" strategies- and yet we know sales growth is being outpaced by center-store items and retailers' continuing to do traditional commodity tactics are losing market share to more niche and relevant competitors. This article from WSJ shows the broader business world- as well as a many shoppers- want fresh foods marketed better. While I know we have better evidence of branded and marketing successes in Circana data, the point is there. We can't keep getting outmarket-ed when fresh foods are in demand! https://lnkd.in/gY-fyPQu #freshfoods #produce #bigdata #marketing

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Politics aside, I think we can all agree that WAY too many direct CPG brands are reeling right now 😥 And it’s truly sad as the founders have put their🩸, sweat and tears into these businesses, which now have: 🏪 Strong retail distribution 🥫 Unique products with true-ish differentiation 😋 Great flavor profile and hedonics 🌀 Relevant and well designed branding 💲 Price points that align with target audience So why are they failing? Three major reasons that I’m seeing: 1) Lack of investor commitment:  Previous standbys in the Food/Bev VC space have not secured new funding or now have alligator-arms when reaching for more funding as they have been ‘burned’ by this category.  So financing has to be more creative and linked to specific milestones.  2) MVPs don’t work in food:  Those who come into the industry hoping to create and launch a ‘minimally viable product’, and then upgrade regularly in the future like they do in tech, are quickly realizing that is not possible.  The regulatory environment, manufacturing, and retail make that much more difficult in this category.  And if you launch a brand that doesn’t do well, consumers and retailers won’t take another look when you upgrade it! 3) Supply chain costs are crazy:  Ingredient costs are increasing weekly for certain raws (e.g. organic cacao), strength of third-party manufacturers (who have full production schedules) and their ability to flex pricing and schedule are impacting businesses, and transportation costs have increased to get products to the end consumer. I’m sure in the future we’ll look back at this period as one of creative survival, innovation, and collaboration, but right now it just sucks 👎 for so many brands and businesses out there and I feel for you. If you are one of these brands or know of one, feel free to reach out 📲 to see if the folks here at Palm Venture Studios would want to take a look.

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Good insight from Walmart: Food and beverages companies are worried that weight loss medicine like Ozempic will reduce consumption, as consumers are becoming less hungry. What a brilliant marketing challenge for a brand manager - sell more to less hungry and thirsty user :) Ozempic Is Making People Buy Less Food, Walmart Says https://lnkd.in/dBvtFDi6

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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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AB InBev has reported a rise of 2.6% in first-quarter sales, in line with forecasts, but the impact of a roughly year-old U.S boycott of key brand Bud Light continued to hurt the brewer. AB InBev also sold slightly more beer than anticipated, with volumes falling 0.6% versus the 1% anticipated by analysts. Own beer volumes declined by 1.3%, while non-beer volumes rose by 3.5%. Read more https://lnkd.in/dCKmtukA

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SAFE NOTES ARE NOW UNSAFE... OK so what is going to happen to the money that was poured into CPG Brands via these supposed SAFE Notes? Issue is that no priced round took place and now it is likely if it did happen it would be at a fraction of the valuation that was contemplated leading to massive dilution for the founder. Many have a cap...few have a floor. and unless they are converted it will be impossible to raise new money at any valuation. #cpg #safenotes #fundraising

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CPG Is Constantly Changing - Except When It's Not (part 14 in a series - skipped part 13 for good luck) The Real Cost of Slotting (Free Fills) Here we go, we're ready to launch our new CPG brand into retail - an exciting time! As we go forward, we recognize there is a cost to this - slotting or in the case of selling through distributors, free fills (typically one free case per store to get going). Before anyone starts complaining about the concept in general, there are some real costs to your distributor and retailer partners in getting these items into their stores - and if the item is not successful, getting it back out and another one in. Let's take a look at an example. You are launching your new brand, into 10 100-store chains, with 3 flavors, 10 in a case and a case cost of $20. Sounds simple enough - you give them one free case per store and it's going to cost you $60K, right? Not so fast, let's consider a few things: 1. If you do not adequately & accurately plan & accrue for this, you are going to get some bad surprises down the line. Long after you've forgotten the meeting and the free fills, these deductions will show up on various invoices in 2, 3 maybe 6 months. Oops! 2. So, let's look at real cost. When the distributor sells your product to the retailer, there's obviously an upcharge - for the purpose of this, let's assume 20%. So, your cost is now $24 per case. And there's a fee on the deduction - let's go with 10%. That's $26.40 per case. 3. Most likely, there's a 15% OI going on - the distributors bridge these deals from one to the next - that's another $3. We're at $29.40. 4. You're probably going to need a promotion to get consumers to pick up your new brand and get noticed. Let's be conservative and say it's simply a 20% scan. That's another $4.80. And let's not forget our 10% fee to deduct this amount. Yep, $34.68. So, we are now 4 or so weeks into our new launch, and we've given each store a free case. Seems simple - except I've sent invoices for $60,000 and have deductions for $104,040! When's breakeven? We should all know that going in, correct? Most midsize and larger brands do when they launch an item - it's a complex business and it's important to have your eyes wide open! Brands introduce all the time - many are successful. The key is understanding, planning and knowing your trade spending & promotion inside and out. Let's learn to look at this through the front windshield as opposed to the rear view mirror. It's easier to drive your business that way! ________________________________________________________________ For more information or more of my posts, contact me here at Linked in or at www.schroedercpg.com. Let's win here together!

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Hey Network! I am especially excited to share the partnership that The Partnering Group and Groceryshop have developed to bring the REAL industry insights forward that will help CPG's and retailers develop strategies that are 'Ready for Commerce'. I was quoted in the article below: "For more than 30 years, TPG has worked with the global grocery, distributor and CPG community to better understand, navigate and evolve to create sustainable growth in the wake of digital disruption," said Peter Strong, Partner at The Partnering Group. "Groceryshop has been at the forefront of bringing together the decision makers that are thriving in the face of these disruptions, and we look forward to bringing our communities together to share these new and business critical insights later this year." Companies who participate in the survey will get a copy of the report and insights for you - CPG benchmark or retailer benchmark. If you are interested in participating, please reach out to me directly so that we can send you the survey. Thanks in advance for participating! #grocery #groceryshop #ecommerce #digitalcommerce #food #retail #cpg #digital

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June is national candy month. And while store brands dominate the top 10 of the #Snack50, a few notable national brands are on page-one. However, more confections brands made the top 10 last year. What's changing? Request your private walkthrough of the #Snack50 report to discover what's happening 'between the ears' of consumers – and what your brand can do about it to drive growth. https://lnkd.in/gijG37D5 Abasto | Food & Beverage Business News, The Food Institute, The Hershey Company, Mars, Wrigley, Mondelēz International, Perfetti Van Melle, Frito-Lay, Kellanova, Walmart, Target, Kroger

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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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