BOCA RATON, Fla. – Big Food companies are seeking to change the narrative with investors at the annual Consumer Analyst Group of New York conference. The industry has faced challenges with the Ozempic craze and consumers resisting high prices.
At the conference, major packaged food brands like PepsiCo, Coca-Cola, Hershey’s, Conagra Brands, and Molson Coors are presenting their strategies. One key focus is on the recovery of sales volume as consumers cut back on purchases due to rising prices.
Executives from General Mills and Conagra were cautious about predicting a return to growth in the near future. Hershey and Mondelēz discussed the potential for growth through offering different pack sizes and price points to consumers. They also highlighted the importance of innovation and marketing partnerships to re-engage consumers.
Mergers and acquisitions are also a hot topic at the conference, with companies like Campbell Soup and J.M. Smucker making recent deals. While no major announcements were made, many companies expressed openness to potential deals if the right opportunity arises.
Some analysts believe that food staple companies could start acquiring differentiated tech companies to better understand consumer behavior, similar to the recent acquisition of Vizio by Walmart.
Overall, the conference serves as an opportunity for Big Food companies to reset their strategies and engage with investors and analysts in hopes of regaining confidence in the industry. As discussions continue, it will be interesting to see how these companies navigate the challenges and opportunities in the evolving food and beverage market.