Agenda for snack innovation is determined by Campbell Soup.
The Campbell Soup Co.’s snack innovation approach is based on three pillars: broader occasions, familiar twists, and acceptable indulgences.
President of Campbell Snacks Valerie J. Oswalt said, “We selected these three spaces based on our research, reflecting consumers’ insights, growth rates, size of prize and our unique right to win,” during a presentation at Campbell Soup’s virtual investor day on December 14.
The novel take on a well-known pillar emphasises the need for variety in customer choices. 2021 saw the release of new items that gave consumers more options, such as the limited-edition Jalapeño Popper Goldfish crackers and Pepperidge Farm Goldfish with Frank’s RedHot sauce. Goldfish Mega Bites are another way the corporation is growing the Goldfish brand.
Ms. Oswalt remarked, “We took what people love about Goldfish and made a bigger, bolder, cheesier Goldfish.” “Mega Bites will reach a new audience on our platform.”
Both savoury and sweet snacks will fall within the category of permitted indulgences. Pretzel Crisps Bites, three new flavours of Late July nibbles, and chocolate Milanos from Pepperidge Farm are planned for the upcoming year.
The first chocolate cookie under that name is the Milano, according to Ms. Oswalt. Mexican street corn, garden ranch and nacho are among the new flavours available in late July.
“With strong natural claims front and centre of the packaging design that addresses the craving need in the natural and organic tortilla category, these flavours deliver the same organic credentials Late July is known for,” Ms. Oswalt stated.
The increased occasions pillar represents customer expectations around the availability, suitability for their lifestyle, and ease of finding their favourite snacks in the appropriate pack size. Ms. Oswalt cited the company’s innovation in pretzels as an illustration of how it is leveraging increased opportunities.
According to her, flavours in the pretzel aisle are expanding four times quicker than unflavored ones. Thus, we intensified our flavours in the beginning of 2020.
Twisted Pretzel Sticks were subsequently released under the Snyder’s of Hanover brand.
According to Ms. Oswalt, “Twisted Pretzel Sticks were made using a different technology and approach to flavour.” Additionally, our pretzel team used our insights engine and agile approach to innovation to bring this product to market in a matter of weeks rather than months.
“To capitalise on the larger sizes that are driving growth in pretzels, we have adapted price pack architecture to the pretzel platform in addition to our innovative flavour offerings.”The business is now using this strategy for its Snack Factory brand.
“With Snack Factory Bites, a new occasion of hand-to-mouth munching versus dipped or topped Pretzel Crisps, we’re taking flavour growth and applying it to the deli,” Ms. Oswalt stated.
Ms. Oswalt stressed during the investor day presentation that snacking occasions are increasing and are expected to do so in the future. According to market research firm Mintel, 78% of consumers think that snacking can be a component of a healthy diet, and 69% of customers prefer snacks that strike a balance between taste and health.
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“We want to make sure that our snacks are elevated or premium on a daily basis,” she stated. Furthermore, despite our elevation, we do not exclude anyone. We want to be within arm’s reach of people whenever and wherever they need us.