Since the Covid-19 outbreak began, demand for shelf-stable packaged food has surged, providing a boost in revenue for CPG manufacturers such as General Mills, Conagra Brands and the Campbell Soup Company.
Beverage-based companies, meanwhile, have had mixed results, with the temporary closures of bars, restaurants, movie theaters and sports stadiums cutting into sales. In this environment, both PepsiCo and Coca-Cola have reported losses.
In the final installment of this week’s three-part virtual series Facing the Future, Together, hosted by Snapchat in partnership with Adweek, three leading marketers in the CPG food and beverage space discussed the future of the industry amid an ever-changing present.
An emerging trend that was a big topic of discussion is the rapid adoption of people purchasing groceries online. Unilever, which saw ecommerce jump 62% for the quarter ending on June 30, has recently proven consumers are even willing to buy ice cream on the internet. The British-Dutch company’s ice cream brands include Klondike, Breyers, Magnum and Ben & Jerry’s.
How these changes in consumer behavior will last after the pandemic subsides is unclear. “We’re trying to figure out what’s temporary versus what’s permanent,” said Lesya Lysyj, chief marketing officer at the Boston Beer Company, during the live event.
Hear how Lysyj in conversation with Brad Hiranaga, chief brand officer of North America at General Mills, and Todd Kaplan, vice president of marketing at PepsiCo, think about this question in the video below.