Food Giants Are Trimming Costs — But Not Advertising
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For the packaged-good industry, the sales environment this winter has been about as bad as the weather. Consumers are still reeling from the weak labor market and cuts to a food-stamp program. Emerging markets — normally a reliable source of growth — have slowed. And a growing segment of the population is being lured by fresh foods and smaller brands.
It was under that gloomy backdrop that executives of some of the world’s-largest food marketers gathered in sunny Boca Raton, Fla. this week at the annual meeting of the Consumer Analyst Group of New York. And while CEOs tried to put a positive spin on their future prospects, the tone of the conference reflected the harsh realities facing the industry.
The messaging is meant to differentiate the product from more-complex protein products, including bars, gels and powders. A digital campaign will serve up content based on a consumer’s search history, like showing a funny video involving basketball and P3 if people search for basketball terms.
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