Corey Provine

Beverage alcohol consumption has undergone significant changes in recent years, influenced heavily by the pandemic and evolving preferences of younger consumers aged 21 and older. I joined Joan Holleran Driggs for an episode of Circana’s Growth Insights podcast to explore these shifts and offer insights into what we can expect for 2024 and beyond. Here are the key takeaways: 🍺 Traditionally, adults aged 21+ started with beer or wine. Now, many young adults are beginning with ready-to-drink (RTD) beverages, particularly spirits-based options. 📉 Despite a plethora of choices, overall beverage alcohol consumption is softening across generations. However, premium beverages are still experiencing growth. 🥤 The appeal of RTD beverage alcohol among younger consumers is largely due to innovative packaging, including on-the-go options like ball form, slim cans, and aseptic packaging. 🥃 Whiskey, tequila, spirits-based RTDs, and imported beer from Mexico continue to drive the beverage alcohol market. Listen to the full episode here: https://lnkd.in/gqRdf9Xd #Circana #BeverageAlcohol #RTD #GenerationalTrends #PremiumBeverages #CircanaGrowthInsights

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General Mills spoke recently at a Barclays investor event and used the platform to reassure investors of its plans to return to growth. While it has been a difficult stretch for major CPGs as consumers' wallets are tighter than in years past the company did highlight some indicators suggesting near-term growth. But beyond that General Mills emphasized a need to create a new competitive playbook. They highlighted misses on innovation, pricing movements, and packaging sizes, as areas of concern. Identifying the problem is always the first step, but how do they correct course? Immediate levers to pull like boosting media and trade spending, will improve top lines in the short term, but a commitment to consistent consumer and competitive research is needed to help realize efficiency gains on the bottom line. #Fletcher #CPG #CompetitiveIntelligence https://lnkd.in/gxMcbGDU

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Big news in the CPG industry! Mars has agreed to acquire Kellanova (Kellogg's salty snacks spin-off) for a whopping $36B. This strategic move not only gives Mars a new arm in the human snacking world but also positions them to meet the future demand for sustainable, healthy snacking. The deal comes amidst a trend where consumer trade-downs to lower-cost options continue to dominate the market. This acquisition not only speaks of leverage but also underscores the significance of brand equity for leading CPG companies. Competitors in the sector should take note. Mars, known for its expertise in infusing acquisitions with capital to scale, is set to make waves with this deal. Stay tuned for the ripple effects in the industry. #CPG #Fletcher #CompetitiveIntelligence Read more: [Link to article]

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I had the distinct pleasure of sitting with Kantar BrandZ for an in-depth conversation about global brands through the lens of PepsiCo's iconic portfolio -- what makes a brand valuable, the role of brands, how to stay relevant, deploying distinctive assets in a consistent and connected way, how the best-of-the best do it and so much more. I believe brands have a bigger role to play than before and at PepsiCo we talk about Positive Brands. We want to inspire people to make better choices for them and the planet. We are developing programs that leverage the scale and power of our brand marketing to accelerate our sustainability journey and connect with consumers. And we recognized brands are only relevant to people to the degree that they connect to something meaningful in their lives; something bigger that connects to core human needs like community, security, control, connection, enjoyment, etc. When it comes to deploying distinctive assets, we have to be very humble as marketeers. Memory structures, distinctiveness, brand meaning is built over generations. As marketeers, we stand on the shoulders of the giants that went before us. I'm very humble to the generations of incredible marketeers who have built these brilliant brands. Thank you Kantar for recognizing PepsiCo in the BrandZ Top 100 Brands Global Report 2024. Check out the full conversation: https://lnkd.in/eE3mtGxZ #PepsiCoProud #BrandZ #Kantar

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Most consumers are looking for more opportunities to share meals at home with family and friends. The biggest barrier to doing so? Time, according to 60% of the consumers we surveyed for the new Butterball Togetherness Report. It’s not just about the time spent cooking – it takes time to invite guests, plan recipes, assess dietary restrictions, and most importantly, shop for ingredients. In our latest report, Butterball, LLC surveyed consumers on what they look for from grocery retailers when shopping for shared meals. Read the report to learn how grocery retailers can save consumers time on their meal planning and shopping: https://lnkd.in/etU_JdnE

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Getting closer! Being consumer-obsessed is not easy! To grow a consumer brand, what worked in years past might not work today, tomorrow, or next year. So, what are the thin threads that can make a difference for Insights and Strategy teams? Join us at CRC to hear more from industry leaders! #iaCRC #insights #trends #marketresearch #mrx #consumerbehavior #consumerinsights #consumerintelligence #MROC #Leadership #DigitalMarketing

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“We created this study for produce marketers and all food marketers to better understand how today’s curiosities will influence tomorrow’s trends,” said Cristie Mather, vice president, food for Curious Plot. “While it’s clear that simplicity and affordability are ruling the day, it does not take away from the fact that early adopters’ curiosity for fruits and vegetables, global flavors and functional ingredients remains strong.” 💡 Don't forget to download the 2024 Consumer Curiosity Report: https://bit.ly/4csBBfy #foodtrends #consumerresearch #foodmarketing #producemarketing #produce #fruitsandveggies

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