Weekly Roundup – Week of 9.25.23
September 29, 2023
Discover top-trending food and beverage-related news stories of the week – curated by our team of strategists and food enthusiasts:
‘Boo’ Season Is Expected To Break Records…In The Billions
The National Retail Federation announced that “Halloween spending will reach an estimated $12.2 billion this year as more people are expected to participate and spend for the holiday compared to last year.” Total consumer spending is anticipated to affect all categories including decorations ($3.9 billion), candy ($3.6 billion), and pet costumes ($700 million). Shoppers also started shopping earlier this year with a mix of purchases from big retailers, dollar stores, and online. There are so many insights in this one article, it’s scary. Check them out, Here.
How Influencers Inspire Demand For LTOs
In today’s social media-powered world, brands will test new products in the social waters to see which ideas float or sink and which ones will return with seasonal LTO status versus a permanent place on shelves or menus. One influencer who tries and posts about said products can ignite organic trial and sales with simple UGC (user-generated content) and minimal-to-no- investment from the brand. OLIPOP, for example, could not keep its limited edition Minon-themed Banana Cream Soda in stock – happily prompting the company to “reintroduce” the flavor back to fans full-time. Find more examples, Here.
5 Soundbites From The 2023 Groceryshop Show
Technology led the way in this year’s Groceryshop conference as grocers learned solutions to help enhance in-store experiences, deter theft, and break through the digital clutter. Improved, attention-grabbing electronic shelf labels and videos help stop shoppers in their tracks and advancements in checkout technology can save time with processes such as automatic produce identification. For all 5 takeaways, Read More.
MorningStar Farms Introduces New Plant-Based Burger
Kellogg is hoping its new MorningStar Farms plant-based burger will entice more consumers in an effort to reignite brand sales and the slowing plant-based burger category. The company claims this new burger alternative has the same texture and taste as traditional meat options. Taste is the biggest driver and obstacle of trial, along with proving that plant-based burgers are actually healthier than traditional meat. The new formulation is pre-seasoned and contains 42% less fat than ground beef and offers 21% protein per serving. Learn More.
Sweet Success For Two Startups
In a recent interview with Food Dive, Mike Kurtz, founder of Mike’s Hot Honey, explained his journey from a school trip to one of the hottest brands today, and all his challenges and opportunities along the way. Mike tried spicy-sweet nectar drizzled on pizza during a trip to Brazil, which led to the idea of hot honey, first as only a hobby. He honed his pizza-making skills with the help of iconic pizzapreneur Paulie Gee and a friend and now business partner, Matt Beaton, from his days at the University of Wisconsin-Madison. This startup is a story of sweet-hot success.
Brothers Dan and Shawn Kilcoyne worked together on a business plan to open a Dippin’ Dots cart in their school cafeteria for their high school project. Dan took the reigns after his brother graduated and launched 18 retail stores while still attending Father Judge High School in Philadelphia. However, Dippin’ Dots eventually changed to a franchise model and Dan had to close the doors on all stores due to franchise fees and royalty payments. He later partnered with Mini Melts, a competitor, which today offers 14 flavors in 40 states with sales growing 35% annually.
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