Jana Goodbaum

We went to the Plant-Based Expo yesterday in Vancouver where many plant-based CPG startups look to gain awareness and build loyal customers. Here are some of my initial takeaways: 👉 Sampling is great, take home samples are even better. While I maneuvered my way from booth to booth, stuffing my face with free samples, I can barely remember any of the brand names. So if you're trying to get 'liquid to lips' or 'samples to mouths', people need to remember you. As a CPG owner, you're not there for fun. You're there to win customers. A takeaway sample allows a customer to have a better shot of remembering your name and logo, and more importantly, become a repeat customer. If they don't have a takeaway, there's a really good chance they've already forgotten about you the second they walk away. 👉 Have the right staff working the booths. If you are not outgoing and love people, maybe it would be best to have a more behind-the-scenes role. Friendly, social people work wonders for brand loyalty. We saw a lot of founders working the booth who seemed like they didn't want to be there. No smile, no chat, not asking questions about their product, not trying to build a relationship... I get it, when it's busy, it's not always possible, but there were many occasions when I was the only one there and they didn't seem to try to win me over. 👉 Customers are judging your entire presentation. Your booth, your packaging, your staff, your attire, your posters, your sample sizes... everything should be well thought-out and executed at a high level. I get it - margins are super slim with CPG and running an event is probably stretching your budget. If you can't afford to be there, then don't go. Large samples go a long way. Production value goes a long way. Professionalism goes a long way. 👉 Have an incentive to purchase People LOVE a deal. We noticed the prices were not visibly displayed nor deeply discounted. Have a discount structure that encourages people to increase their order value (e.g. 1 for 10, 2 for 15, 3 for 18).  Is your goal to turn a profit, or to win loyal customers? I think it's better to have a great deal, have people fall in love with your product, and become repeat customers. 👉 Coupons are a cost-effective way to offer samples. You need a way for people to find your product after the expo. Driving DTC sales can be a great way to have brand recall and loyalty. If they don't need or want your sample, no worries, all it cost you was the price of printing a coupon. 👉 Have incentive to collect emails. This is related to the last two points. At this stage, your product is probably not that easy to find in stores. Emails and DTC are a way to build a relationship with your audience and to circumvent getting on store shelves and paying costly fees. We saw giveaways that encouraged visitors to provide their email address and thought that was smart. Did you go to the expo? If so, what were some of your takeaways? #cpg #branding #vancouver

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This was a fun story to work on with the CBC Marketplace team. What consumers percieve as normal and what industry percieve as normal are often two completely separate things. This is why section 6(1) of the Safe Food for Canadians Regulations does not see "Made with real ginger" as misleading. It is made with real ginger. It's been extracted from ginger at one facility, shipped as an extract or oleoresin, and dosed to a beverage during production at another facility. I wish they included my quotes about consumers being ok with natural extracts or essential oils. But the moment we say "oleoresin" consumers recoil in dismay even though substantially it's the same approach to ingredient technology. They also skipped my quote about how if you steep chopped ginger in water how the gingerol and zingerone and other flavour compounds extracted in this process would still only be at fractions of a percent, similar to using a flavour extract or oleoresin. Oleoresins are stable and consistent in potency, while fresh ginger is not. Consumers would be unhappy if there was large batch to batch variations in an iconic product like Canada Dry. Food is chemistry and that's a really cool thing to think about. https://lnkd.in/ggFVfNUN

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For CPG brands, transparency with buyers is critical. You need to be transparent about what your capabilities are, as well as what they ARE NOT. Promising a buyer you can do something and then not delivering on that promise is the surest way to lose their trust forever. I was reminded of the importance of transparency by the latest of Ryan Holiday's books, titled, "Right Thing, Right Now." It's part of his Stoic Virtues series, and it focuses on the value of doing good in this world. One quote from the book on this topic really stood out to me: "How many marriages would survive our spouse looking at our phone? Or our boss seeing what's in our email? How many reputations would survive a lawsuit that made it to discovery? If we are inclined to hide it, we probably shouldn't do it. If we dread the publicity, maybe we are not living or doing right. " We should strive for the opposite. We want people to see what we are doing. We want to be the city on a hill. We should be the kind of person [or brand, in this case] who the more they hear about us, the more they respect and admire us." Can your company survive being an "open book" to your buyers and consumers? If not, perhaps it's time to take a look inward. #business #smallbusiness #cpg #retail #ethics #ecrmrangeme ECRM RangeMe

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Another large Food CPG company divesting a non-core asset: The Hain Celestial Group, known for better-for-you brands like Veggie Straws and Terra, has sold ParmCrisps to Our Home, an independent snack maker. This is part of a continuing trend in the F&B sector, where large corporations are divesting non-core assets, allowing niche buyers to acquire them at value and revitalize iconic brands with more focus. Hain originally acquired ParmCrisps and Thinsters in a $259 million deal in 2021, but by 2023, they had written down more than half of the acquisition, citing a loss of distribution and a slowdown in the keto diet trend. Hain is sharpening its focus on core brands while improving supply chain efficiency and reducing debt—illustrating the strategic moves happening across the industry. We expect this trend to continue for the next 18 to 24 months. #MergersandAcquisitions #InvestmentBanking #FoodAndBeverage #BetterForYou https://lnkd.in/g4mEeFS5

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What food trends are on the horizon for 2025? While still a few months out, people have started laying out their predictions and, I've got to say, we're looking at a packed year. Here's just a few of the insights gathered from the Summer Fancy Food Show: ✅️Swicy foods are going to be everywhere… and I do mean everywhere! ✅️Freeze dried foods have become a popular staple and the apocalypse mentality behind it hasn't quite died out! ✅️Fancy groceries are going to continue to be a decent replacement for the experience of eating out! #FoodAndDrinks #Trends #Snacks #FutureOfFood

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I’ve been thinking about posting this for a while but was caught between being diplomatic vs a founder who wished she had known sooner… and obv the founder side has won! As a start up you are easy prey to a lot of “consultants” and “brokers” who are a part of the CPG network. They talk smart and show some success (which i now realized is “borrowed”) and get customers paying them a retainer fee promising to take on some part of the sales/brokering process. If you’re in CPG I’m sure you know how this story goes! I just wish people were more forthcoming about bad experiences as much as good experiences, because when you’re starting out cash flow is SUPER LIMITED. Esp when there’s no funding involved! Unfortunately the biggest red flag was paying a retainer fee, but being desparate to get some tasks off my desk, I went ahead and hired this agency. Another founder lesson: don’t ignore your gut. From checking with a “recomended client” of theirs I felt something was off… but like I said sometimes stress gets the better of you! From the get go, this agency has not only managed to not deliver on a single task, they laid out a web of lies, email after email of deliverables with no performance. Their team was remote and within the few weeks of working 3 people already quit! Not only did I lose money paying a hefty retainer, their messy handling of retail promotions cost my business a lot more. Ending the contract immediately, they expected me to pay the retainer for the rest of the contract, while putting their hands up toward all the losses they caused me. Not one item was delivered. Just wanting to get this chapter closed, I agreed to pay them. But the audacity of the owner amazes me- no shame in apologizing for their shoddiness and lack of work ethic. If you’re a founder in the cpg space, just be careful. Just bc someone has paid and come into an expo doesn’t mean they are worth their salt. Double check and triple check references… and most importantly, TRUST YOUR GUT. #founderdiaries #cpg #behindthescenes #notgoodnow

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"Social media has democratized attention; it's now a privilege to earn it." Wow, what an epic masterclass in storytelling from Jake Karls of Mid-Day Squares during a session with SKU yesterday. Today, emerging brands can generate millions of views on social media to capture the elusive attention of their audiences, evening the playing field. Back in the day, the name of the game was spending millions on media to get this same attention. This isn't a post about "going viral" though (which is not a strategy, btw). It's about emotive storytelling. Mid-Day Squares created a reality show on the entrepreneurial journey, telling the story of David vs Goliath. And you can't help but root for the underdog through the ups, downs and the hilarity in between. They stand for something bigger than their product benefits because while you can copy graphics, ingredients, claims, etc. you can't copy how you make people feel. Here are some of the brands elevating the playing field by standing for something bigger than their product benefits: 🍫 Mid-Day Squares: David vs Goliath (more than a better-for-you Hersheys) 🌮 Siete Family Foods: togetherness (or as they say, "juntos es mejor") 🥤 OLIPOP PBC: the simple joys in life (watch out Coke, they're coming for your happiness) 🥣 GOODLES and 🌈 Unreal Snacks: being a kid again! (adulting doesn't have to be so serious) 🍍 King's Hawaiian: aloha vibes (who needs to go to Hawaii when you can bring Hawaii to your kitchen?) If it doesn't evoke emotion, what's the point? Who else do you think is winning the storytelling game? #cpg #storytelling #branding #socialmedia #marketing #entrepreneurship

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Non-alc drinks are on the rise, and here’s what you need to know. 🤝 Industry research has revealed a growing demand for alcohol-free alternatives, driven by factors such as cost-consciousness, diet, and a heightened focus on mental wellness — especially amongst Gen Z and millennials. Read more about this trend shaping the beverage landscape in Canada: https://lnkd.in/eTSiey47 #NonAlcoholicDrinks #HealthyDrinking #MindfulDrinking #BeverageIndustry #NonAlcoholicBeverageIndustry

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Read beyond the headline. According to NACS global convenience is on the rise but the US and Canada are not. US convenience sales dropped 2.1% in Q1, 2024. Canada dropped by 4.0%. And tobacco products performed even worse. Last year convenience retailers barely stayed ahead of inflation and this first quarter, the lingering effects of inflation, are rearing their ugly head. I'm a big believer in the evolving convenience model. Their easy to get to, fast, getting cleaner, improving their assortment, and with decent (at times) prices. Also, some have very friendly employees. I can go through a massive big box store or grocer and never even talk to one. Believe me, its a differentiator. But they are going to be tested and there is going to be a separation between those that embrace technology and those who don't. You can already see it today. Tobacco manufacturers and distributors are asking and collecting scan data and providing rebates to those c-stores that deliver. They are using this to come up with even more sophisticated pricing, multi-pack programs, and buydowns that are harder to understand and comply with. It's a virtuous or vicious cycle - depending on what technology side you are on. As c-stores broaden their assortments they are finding new competitors. The competitor is no longer other c-stores but grocers, liquor stores, fast food, and dollar stores. (and dollar stores play a similar game of speed, location, and convenience - and add price!). Guess what, these retailers are ultra-competitive and they don't like non-traditional category killers (or category bandits). They are embracing technology and pricing technology to make sure they are looking to improve their overall experience to grab customers. EV chargers at grocery stores are on the rise. And studies show more than 50% of grocers are using pricing optimization technology. https://lnkd.in/g4DuQKnT

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Ending the week high on optimistic skepticism for the better-for-you CPG landscape. Big acquisition news leaves me optimistic that more money will start to flow back into BFY CPG companies, helping to further drive impact and food systems change. Anytime there is a big acquisition, investor FOMO reaches an all-time high. Skeptical though since the reality is that most of the money that will flow back into CPG because of this will come with similar exit and growth expectations. I truly believe that if we are going to make lasting, meaningful changes within our food system, then we need more independent companies invested in impact-centered long-term growth, and we need more investors willing to invest in companies like these. Creating further consolidation within a food system that has so much already is not the path to meaningful change. Creating a system in which Big Food gets bigger and uses acquisition to bandage over their core business that is destroying consumer health and planetary health is not the path to meaningful change. Creating short-term wins for shareholders while ignoring the impact that independent, evergreen, mission-driven companies can have on the world as they scale is not the path to meaningful change.   I get it. There’s an allure to big numbers– big returns. Money has allure, it has status, it has power. We love money. We praise it. We’re driven by it. But all of that money, status, power, ego, and praise really arent going to mean much if we continue to invest in short-term gains and shareholder value at the expense of investing in a better future. There are many ways to invest in mission-driven companies in which return is not predicated on an exit and companies can stay truly independent and impact-focused to drive long-term change. For the sake of our food future– we need more of those investors. Always happy to chat about those investment models for those curious.

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➡️ WE ASKED A FOUNDER: How did you hit your first $1 million in revenue? 2020 Tory Burch Fellow and Partake Foods founder Denise Woodard: "I self-funded and self-distributed Partake for the first several years, which is just a concise way of saying 'I sold cookies out of the back of my car to natural food stores in and around New York City.' In that time, I learned and listened to my retail customers and consumers, taking every bit of feedback back to the very small team of consultants who were helping me develop, manufacture and market the business. In 2018, I was seeing amazing traction, restricted mostly by my access to capital. So, I attempted to raise venture capital, realizing quickly that the lack of accredited investors in my network was a roadblock. At the same time I was raising capital, I was taking the successes I was seeing in the few hundred doors we had and having conversations with regional and national retail chains. While I was getting 'nos' time and again from potential investors, I was continuing to see positive results at retail. So, as the only employee at Partake, I just kept going. By 2019, we had shown strong numbers for the size of our distribution, but the $1M mark still felt so far away. However, I got two very important calls. After 86 'nos', I got a 'yes' from Marcy Venture Partners who led our seed round. In that same year, Target confirmed we'd be rolling out nationally with 3 SKUs. The combination of venture capital and national distribution supported 10x growth in 2020 versus the prior year, and got us well over the $1M mark. The important takeaways, I feel, are that I spent the time it took to ensure I really understood my consumers and built a product my retail customers would be happy to stock on their shelves. That meant a lot of sacrifice in those first few years (and still does!), but I kept building—brick by brick—because my numbers, and my gut, told me to keep going." Thank you Denise Woodard for sharing your story. We're grateful to be part of your entrepreneurial journey. #ToryBurchFellows Image description: Headshot of Partake Foods founder Denise Woodard.

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PepsiCo, a CPG giant, reformulated the famous brand Doritos to make them non-HFSS (high-fat salt and sugar). They are also in the talks to acquire Siete Family Foods for $1.2 billion. There are many other companies working towards getting in the non-HFSS zone for the changing consumer demand and meet the regulatory requirements. Is your portfolio high on #HFSS? Speak with one of our specialists at ChemBizR, to learn more about the ideal ingredient makeover for your portfolio. Pranay Jajodia Cargill, dsm-firmenich, ADM, IFF, Ingredion Incorporated, Kerry, Tate & Lyle, Tate & Lyle Sugars, FrieslandCampina, FrieslandCampina Ingredients #sugarreduction #salreduction #highfat #nonhfss #fda #foodindustry #foodnutritionandbeverages

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📈 A Growing Trend: Canadians are busier than ever, and the Ready-to-Eat (RTE) meals category is thriving! With a focus on convenience and nutrition, this market continues to expand as consumers embrace health-conscious and plant-based options. 🍲 What’s on the Menu? Our latest study reveals that Canadians value variety and ease, with supermarkets and online retailers leading the charge in RTE meal sales. 💡 Future Insights: At Field Agent Canada, we asked: What do consumers really want from RTE meals? Check out our infographic below to see how brands and retailers can meet evolving customer needs. If you need quick and affordable insights about Canadian consumers - you need Field Agent! https://lnkd.in/ghMVhiVj #ReadyToEatMeals #GroceryTrends #RetailInnovation #ConvenienceFood #HealthyEating #BusyLifestyle #PlantBased #QuickMeals #FoodForThought #CanadianRetail #ConsumerInsights #FieldAgentCanada Field Agent Canada

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I am a day late to the party in terms of comments re: Siete's acquisition by Pepsi. And what I have to say will likely be deemed as boring and unoriginal, as multiple people probably have already said it by now. However... I've never been a CPG product founder but I've worked on the brand-side for multiple better-for-you CPG startups and worked closely with founders. I've witnessed first-hand the many pressures and sacrifices they experienced. I watched people that were relatively young in comparison to me age quickly due to the long days and long nights as well as tough business decisions they had to make. As such, when I see founders that made consumables with better ingredients reap the benefits of the many mountains they've climbed, I have nothing but happy thoughts. However, from a consumer perspective, we know how the story ends. BIG FOOD is going to wrap their tentacles around a perfectly good product and try to squeeze every cent of profit. They'll put it in a chokehold and squeeze and squeeze until the product we all originally fell in love with is a shadow of its former self. And thinking of what is likely to come to pass has me thinking sad thoughts. At the end of the day CPG isn't punk rock music. It's a business.

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QUESTION for business founders in CPG - when you were creating your brand and getting it off the ground, what is one thing you wish you didn’t spent so much money on and one thing you should have invested more in?

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45 popular energy drink brands recalled in Canada. How this could have been avoided. Here are 3 lessons learned, so you don't make the same mistakes... 1. Distribution Lesson Learned: Strengthen control mechanisms for products entering the market via third parties, especially in an international market. ✅How to: Let's face it, you never have 100% control of your distribution but you can mitigate the risk by implementing real-time monitoring systems to track your products. Scantrust provides such solutions (no affiliations/sponsorships). 2. eCommerce Risk Lesson Learned: Educate consumers about risks associated with online purchases. ✅How to: a) Implement clear warnings and information on potential risks associated with online purchases (your website, major platforms you're selling, etc.) b) Collaborate with e-commerce platforms to enhance screening measures for product compliance (Canada allows up to 180mg of caffeine per serving) 3. Honesty over Profit Lesson Learned: Distribution is a tricky game particularly when it comes to regulated, international markets such as sports nutrition, supplements, etc. ✅How to: Make sure your distribution partners know the consequences of selling your product to unauthorized third parties. Mitigate this through due diligence, legal agreements (be prepared to take legal action), and engage with local authorities to curb illegal distribution. Expensive and time-consuming, but it'll send the right signal in the market. Over to you now. 💡 How does your company currently manage and monitor its distribution network to ensure products are only distributed in authorized territories? What challenges your company has faced in the past related to unauthorized third-party distributors and how did you manage to solve them? #fmcg #cpg #distributor #distribution #distributionmanagement #regulatorycompliance #internationalexpansion #globalexpansion #businessrisk #management #sales

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I am going to say this publicly one time and one time only. Please stop tarnishing the integrity of the CPG industry with rushing products to the market. What I mean by this is lying to customers, followers, influencers etc about your ingredients and nutritional analysis or lack there of. This effects other upcoming entrepreneurs by creating a illusion that the CPG is easier than what it really is. As a black man in this industry I take great offense to this because black owned businesses have to work very hard to get products into retail as it stands. In the past I've been told West Food Brands wasn't professional, however we've never lied to a customer not once especially about testing or ingredients. Come to think of it we've sent customers free products and apologized for any delays or inconvenience on our end. I don't care about your race or sexual orientation just please remember to have integrity in business. Going around lying to customers and followers about your products or ingredients is not cool. If you have not done proper lab testing of your products please take some time to get those things done. You should not be mass promoting on social. This post may come off has harsh but I rather you not lie to a customer, and get sued or worse someone gets sick. The CPG industry is not a get rich quick business it takes time. Any business you start takes time. I have been on LinkedIn more often the last year or so, and have seen many brands just dissappear no Instagram page now or posts on LinkedIn from the founders. The one thing I will tell you about business it's all about integrity and strong business acumen. You can have all the followers/hype you want and be out of business next week. Slow and steady wins the race. #community #engagement #collaboration #blackowned #blackownedbusiness #smallbusiness #customerservice #integrity #followers #development #creativity #mindset #cpg #strategy #operationalplanning #linkedincommunity #collaboration #wealthgap #culturalawarness #diversity #inclusion #financialinclusion

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Have you ever thought about if you could 'taste colour'? For those of you who are whisky drinkers, I am conducting a research project to understand how Canadians are subconsciously impacted by the colour of a bottle's label. If you drink whisky at all, I'd love for you to do this survey (and there's 5 chances to win a gift card for those who complete it). This information will be analyzed and put into a large industry publication this summer and I will also be presenting about it to craft distillers in August. Take the survey here: https://lnkd.in/g_PCHnAs #canadianwhisky #whiskytasting #whiskeytasting #whiskyresearch

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Random CPG thought. The awkwardness and weird exhilarating feeling you get trying to connect with a new buyer was never better summarized than when Carly Rae Jepsen came out with this earworm in 2012: "Hey, I just met you, and this is crazy, but here's my number... so call me, maybe?" To illustrate the feeling and hopefully make you feel less awkward through my own awkwardness, here is a photo of me holding an invisible phone like a true "old" millennial. You're welcome. ;) #Weallknowiwillbetheonecalling #cpg #entrepreneurship

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