The Consumer Brands Association is advocating for federal programs that target the labor shortage and supply chain backlog, such as child care for working parents and training to help people transition into skilled supply chain trades. "The labor shortage is driving the majority of issues in the supply chain, and the paltry additions today -- for CPG companies and industries they rely on -- create an untenable situation for manufacturers," said Geoff Freeman, president and CEO of Consumer Brands.
A Consumer Brands Association survey finds 87% of consumer packaged goods firms fear employee retention and recruitment will suffer due to the federal COVID-19 vaccine mandate, and groups such as the Business Roundtable and the US Chamber of Commerce are requesting the mandate's deadline be delayed until after the holiday rush. The survey also noted roughly 60% of Consumer Brands members surveyed by the association have started the planning process for vaccination and testing policies.
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Tyson Foods has achieved a 96% employee vaccination rate with nearly 60,000 employees receiving a COVID-19 vaccine since the company set its Nov. 1 vaccination deadline in early August. "We've seen a significant decline in the number of active cases, companywide," wrote CEO Donnie King in a letter to employees.
Coca-Cola's third-quarter revenue and sales increased 16%, prompting a 2-point raise in its full-year earnings-per-share forecast to 15% to 17%. The strong quarter is attributed to the reopening of event venues and an increase in marketing spending, according to CEO James Quincey.
Functional and cold brew varieties will lead category growth for premium coffees, according to a Flavorchem trends report. Consumers will also continue to seek exotic flavors, plant-based creamers and brands involved with sustainability initiatives.
With in-store samplings on hold during the pandemic, Rebellyous Foods is betting on upbeat videos and Moms Meet reviews to spread the word about the brand's plant-based Tenders and Patties. Other plant-based meat brands including Impossible Foods, Beyond Meat and Lightlife have created their first ad campaigns to raise brand awareness and grow sales among a growing base of plant-based food consumers.
PepsiCo aims to boost its digital and artificial intelligence-driven capabilities, such as predictive analytics regarding sales and inventory, by opening its first digital hubs in Dallas, Texas, and Barcelona, Spain, with more hubs to follow. "PepsiCo's digital hubs will greatly influence the way the organization reinvents planning, making, moving, selling and delivering products," according to a company statement.
Procter & Gamble's spending on tech-driven solutions to improving production capabilities has supported top-line growth, said Andre Schulten, the company's chief financial officer. Working with Google and Microsoft has helped P&G "get the right product, the right package, the right communication and the right in-store execution," added Guy Peri, P&G's chief data and analytics officer.
Smarties Candy revived its partnership with historian and educator Blair Imani by sponsoring Imani's World Mental Health Day video regarding overcoming mental health stigma. "I am always pleased to partner and collaborate with the amazing and intentional team at Smarties," said Imani.
Increasing commodity costs, supply chain friction and demand pressures mean it is costing more to produce and deliver this year's classroom essentials. The ethyl alcohol in hand sanitizer that kills germs is costing 103% more since last year. Source: Consumer Brands