Why Target’s new private label brand represents a grocery strategy shift
Target’s new in-house brand aims to boost the company’s “less-than-perfect” grocery business by allowing it to differentiate itself from other retailers with a well-curated, high-quality line of food products. Up until now, Target hadn’t figured out how to serve consumers’ basic grocery needs while also providing on-trend, cool food options. Read more at Modern Retail …
Major food processor wants reduction in pesticide use
General Mills is encouraging its suppliers to cut down on their use of pesticides in an effort to reduce their harm on pollinators and nearby fields and ecosystems. The company is also taking action on concern surrounding glyphosate by reportedly not allowing farmers who are a part of the company’s sustainability program to use pre-harvest glyphosate. Read more at Producer …
Convergence of food and beauty fuels new self-care business opportunities
The widespread consumer shift toward clean, natural food labels has coincided to a large degree with the move toward plan-based natural beauty products. And there’s been crossover in terms of ingredients, as well—take, for example, HUM Nutrition, which is a leader in the edible beauty category and sells consumable products meant specifically to support consumers’ skin, hair, nails and overall health. Read more at U.S. Chamber of Commerce …
181 top CEOs have realized companies need a purpose beyond profit
New research shows that employees “will feel greater meaning and impact in their jobs” if a company has a strong corporate value-based mission. These types of companies also outperform the market by 5%-7& each year, grow faster and have higher profitability—but only given that the sense of purpose has been properly filtered further down in the organization, specifically in middle management. Read more at HBR …
Cereal makers try again to jump-start stale sales
Because consumers have continued to spend money on fresh food that contains less sugar and more protein, one market-research firm expects cereal sales to fall 5% between 2018 and 2023. However, several prominent food makers say that their investment and marketing plans can alter cereal’s current path—for instance, Kellogg is developing a cereal brand focused on gut health. Read more at The Wall Street Journal …
