Hain Celestial is still working to provide healthier options.
LAKE SUCCESS, New York Mark L. Schiller, president and chief executive officer of The Hain Celestial Group, Inc., stated during a June 2 presentation at the virtual Sanford C. Bernstein Strategic Decisions Conference that the company is committed to finding ways to make popular products a little healthier in order to fulfill its vision of making health and wellness mainstream.
According to Mr. Schiller, Hain Celestial can take a “huge part” of the mainstream market. In order to do this, the business has been examining the large categories in which it operates but lacks a presence in the health and wellness space and is making efforts to develop healthier offers.
“I’ll give you an example: snacking,” he stated. “Salty, spicy snacks make up a large portion of the category, but nobody was truly making them in a healthy way. Using Sensible Portions, we managed it. It has achieved enormous success. Since then, we’ve also added spicier options to Terra and Garden of Eatin’.
Finding methods to incorporate wellness and health trends from other areas of the shop into the categories where Hain Celestial is present is another tactic in use, according to Mr. Schiller. He gave the example of tea.
“Adding tea to the tea aisle that has the same amount of caffeine as a cup of coffee will draw in more customers,”He uttered those words. “Drink melatonin-infused tea to aid in sleep at night. Probiotic-containing tea was absent from the tea category but was present in the yogurt category. How can I introduce products that are popular with customers elsewhere but aren’t yet in the markets where we compete?
And the result of all of those factors coming together is really modest innovation that is expanding the categories. The merchant will also be happy to support you and provide you space if you contribute to the growth of the category. We therefore find ourselves in a quite positive cycle in terms of our creativity. Once more, we have an extremely strong pipeline of ideas that will keep us busy for a number of years. And I anticipate that, given the momentum our current releases will create, shops will be clamoring for the upcoming items a year from now, and we’ll build on today’s success.
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Hain Celestial has been heavily streamlining its stock-keeping units, which has coincided with the company’s focus on bringing health and wellbeing to the mainstream. More than 1,000 SKUs have been dropped by the corporation in the last few years. It’s simple to understand why Hain Celestial’s volume has decreased when you take into account the COVID-19 pandemic, which made retailers hesitant to place new goods on their shelves.According to Mr. Schiller, “we actually lost 7% of our sales in SKU rationalization.”
However, he added, the business now has a solid base from which to expand, and since innovation is resetting categories, Hain Celestial has been able to take up a sizable amount of new territory.
“The snacks category and the baby category have reset so far,” he stated. “And we’ll see yogurt, tea, and personal care as well as some of the other categories reset as well, beginning this month and continuing through kind of the end of September. And once more, we anticipate that we’ll continue to take up space given our momentum, the strength of our SKUs, and the innovation we’re introducing, which is encouraging for our future growth.