McDonald’s CEO Chris Kempczinski to take on dual role as board chairman

By

-

March 21, 2024

McDonald’s has announced that later this spring, its CEO will assume the position of chairman of the company’s board.

Chris Kempczinksi, appointed as McDonald’s president and CEO in late 2019, is set to take over the role of McDonald’s Chairman following the retirement of Enrique Hernandez Jr., who has served on the Chicago company’s board for 28 years. The transition is slated to occur during the company’s annual meeting, anticipated to take place in May.

Throughout history, McDonald’s CEOs have commonly assumed the role of chairman as well. For instance, Jim Skinner served as McDonald’s vice chairman and CEO from 2004 to 2012.

However, the company’s subsequent CEOs diverged from this tradition. Don Thompson held the positions of president and CEO from 2012 to 2015, followed by Steve Easterbrook, who served as president and CEO from 2015 to 2019. Kempczinski assumed the roles of president and CEO after Easterbrook’s dismissal due to his involvement in a consensual, non-physical relationship with an employee.

Continue Exploring: McDonald’s Q4 results show 3.4% sales growth amidst challenges, West Asia boycotts impact performance

Kempczinski became part of McDonald’s in 2015, taking on the role of executive vice president of strategy, business development, and innovation. Before this, he accumulated over 25 years of experience in senior positions at Procter & Gamble, PepsiCo, and Kraft.

“Having served alongside Chris, who is now in his fifth year as CEO, I know he is uniquely placed to unify the two roles of CEO and chairman to ensure McDonald’s advances in lockstep with today’s ever-changing business and social landscape,” Hernandez said in a statement.

McDonald’s additionally revealed the nomination of Mike Hsu, currently serving as the chairman and CEO of Kimberly-Clark Corp., to join the board as an independent director.

Kempczinski highlighted Hsu’s extensive experience in the consumer products industry and global outlook, which he believes will greatly benefit McDonald’s as it enters a phase of unparalleled expansion. In December, the company unveiled its ambition to launch close to 10,000 new McDonald’s restaurants across the globe within the next four years.

McDonald’s also emphasized that Hsu’s appointment would contribute to maintaining the corporate objective of ensuring that 50% or more of its board members represent diverse backgrounds.

Continue Exploring: McDonald’s faces regulatory heat: Maharashtra FDA revokes license amid cheese substitution allegations

Swiggy denies any involvement in viral ad taking jibe at Zomato amidst delivery segregation controversy

News

By

SnackTeam

-

March 21, 2024

0

Swiggy, a foodtech major, issued a clarification on Thursday after a purported advertisement taking a jibe at its rival Zomato went viral on social media platforms.

Taking to X, Swiggy said, “If it isn’t already obvious, this is not an ad by Swiggy. It was neither created by us nor anybody affiliated with Swiggy.”

“Kindly refrain from circulating or attributing it to Swiggy,” said the company.

???? pic.twitter.com/u6gFVW8Uzt
— Swiggy (@Swiggy) March 20, 2024

The advertisement, posted by X user Nilesh Trivedi, has the logo and name of Swiggy on top saying, “Eviction-safe food delivery. In Indian neighbourhoods, your dietary preferences are best kept private. Our delivery fleet doesn’t leak your private habits to the world. You also save some money as we don’t have to pay for the life insurance of our delivery staff against possible mob lynchings.”

In a subsequent post, the user said, “This image is not an authentic ad by Swiggy. It is sarcasm/satire/parody. I thought I had dropped sufficient clues.”

Zomato sparked controversy by introducing a specialized fleet exclusively for vegetarian cuisine. This initiative involves delivering food from restaurants serving solely vegetarian dishes, with delivery personnel adorned in green attire.

Continue Exploring: Zomato launches dedicated services for vegetarian customers with exclusive ‘Pure Veg Fleet’ and ‘Pure Veg Mode’

Facing criticism over the decision, Zomato CEO Deepinder Goyal later stated that the company has opted to eliminate the on-ground segregation of its rider fleet using the color green.

“While we are going to continue to have a fleet for vegetarians, we have decided to remove the on-ground segregation of this fleet on the ground using the colour green. All our riders — both our regular fleet, and our fleet for vegetarians — will wear the colour red,” Goyal posted on X.

Continue Exploring: Zomato faces social media backlash over ‘Pure Veg Fleet’ launch; CEO open to rollback amid controversy

He said that feedback received after Tuesday’s announcement indicated some of Zomato’s “customers could get into trouble with their landlords”.

Social media users criticized Zomato’s move, arguing that the decision to differentiate fleet partners would perpetuate caste segregation. Some also raised concerns about the possibility of Zomato’s regular fleet facing restrictions from some societies and resident welfare associations.

Continue Exploring: Zomato reverts to red uniforms for all riders amidst social media backlash over ‘Pure Veg Mode’

Titan’s CaratLane jewellery line to make US debut in FY25

By

SnackTeam

-

March 21, 2024

0

Titan, a renowned retailer of jewellery and watches, is gearing up to introduce its CaratLane jewellery line in the US during the fiscal year 2025. This strategic move comes on the heels of the successful international launch of the Tanishq brand in 2020.

According to a report from Mint, the company is targeting the rising demand from the Indian diaspora abroad, with plans for Tanishq to potentially establish 40 stores overseas by the end of the fiscal year 2025.

“We have a target for it (international business) for the near term, but I am not yet ready to share it in public. But by March 2025, we hope to have 40 Tanishq stores outside India. Considering that we had zero stores outside India till September of 2020, we are climbing, it’s a scorching pace of growth (in international markets),” C K Venkataraman, managing director of Titan, told Mint.

Continue Exploring: Tanishq marks milestone with 15th international store launch in Chicago

In October 2020, Tanishq opened its first international store at Meena Bazaar in Dubai, where it achieved remarkable success, as highlighted in the FY21 annual report of the company.

Currently, Tanishq has branches in North America, the GCC, and Singapore. Titan’s Q3 FY2023-24 report states that in the quarter ending December 2023, the brand broadened its global presence by opening two new stores in the US, in Houston and Dallas, and another in Singapore.

Furthermore, Titan launched its lightweight jewellery brand, Mia, in Dubai, thereby increasing its total count of international jewellery outlets to 14.

During the same quarter, Tanishq inaugurated 18 new stores, while Mia unveiled 16 new stores across India. This expansion brings the tally to 453 Tanishq stores, 161 Mia outlets, and 8 Zoya stores within the domestic market.

Continue Exploring: Malabar Gold, Titan, and 4 other Indian brands secure spots in global top 100 luxury goods makers list

“Currently, our focus is GCC and North America, at least for FY25. We will look at the other countries after that, but within these, the ambition is very large, the expansion is quite aggressive,” added Venkataraman.

Established in 2008 by Mithun Sacheti and Srinivasa Gopalan, CaratLane is an omnichannel brand specializing in the production and retail of jewellery in India. It contends with traditional brick-and-mortar giants like Kalyan Jewellers and Malabar Gold, alongside emerging brands such as BlueStone and GIVA.

CaratLane’s revenue reached INR 2,177 Cr in the fiscal year 2022-23 (FY23), marking an increase from INR 1,267 Cr in FY22 and INR 723 Cr in FY21. However, its net profit experienced an 8% year-on-year (YoY) decline to INR 82 Cr during the same period.

Continue Exploring: CaratLane’s operating revenue soars by 73%, crossing INR 2,000 Cr milestone in FY23

Meanwhile, CaratLane has transformed into a wholly-owned subsidiary of the watchmaking company. On February 27, Titan announced the acquisition of the remaining 0.36% stake in CaratLane for INR 60.08 Cr.

Continue Exploring: Titan completes acquisition of remaining 0.36% stake in CaratLane for INR 60 Cr

Prior to this development, Titan owned a 99.64% stake in CaratLane. Last year, the company acquired a 27.18% shareholding in the startup for INR 4,621 Cr at a valuation of nearly INR 17,000 Cr. The proposal received approval from the Competition Commission of India (CCI) in November of the same year.

The new agreement has also been sealed at the same valuation, maintaining CaratLane’s earlier worth at INR 16,666 Cr (approximately $2 Bn).

Continue Exploring: Titan gets green light from CCI to acquire additional 27.18% stake in jewellery startup CaratLane

Kedaara Capital invests in Dairy Day ice creams as Motilal Oswal PE makes exit

By

SnackTeam

-

March 21, 2024

0

Homegrown PE fund Kedaara Capital is set to invest in Dairy Classic Ice Creams (Dairy Day), a leading ice cream brand in South India. This investment will also provide full exit to Motilal Oswal Private Equity and other Angel Investors, as stated in a press release.

With its headquarters in Bengaluru, Dairy Day has solidified its footprint across Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra, boasting a network of more than 50,000 retailers.

Dairy Day will soon augment its existing production capacity of two lakh litres per day by an additional 1.5 lakh litres per day. Moreover, it has attained a notable 30 percent compounded annual growth rate (CAGR) in revenue over the last decade.

Continue Exploring: From scoops to sundaes: Ice cream sales set to soar 15-20% this summer

M.N. Jaganath, Managing Director and CEO, said, “Given the convergence of values and aspirations, we are confident Kedaara will help us deliver on our vision to make Dairy Day one of India’s most loved ice-cream brands. Their wealth of expertise and in-depth retail and consumer experience will be invaluable as we expedite our growth. We are confident of setting up world-class production facilities in various locations in the coming years.”

“Ice Cream is one of the fastest growing categories within the entire food & beverage segment. We are excited to partner with M.N. Jaganath, A. Balaraju, and rest of the team to help them unlock Dairy Day’s full potential, and further strengthen its leadership position,” said Sunish Sharma, Founder and Managing Partner of Kedaara Capital.

Kedaara manages a portfolio of $3.7 billion invested in numerous top-tier enterprises across diverse sectors such as consumer goods, financial services, pharmaceuticals/healthcare, technology/business services, and industrials.

Continue Exploring: Hindustan Unilever evaluates options for ice cream business future amid global restructuring by parent company

Oberoi Group eyes expansion with 50 new hotels by 2030

By

SnackTeam

-

March 21, 2024

0

The Oberoi Group, a hospitality major, plans to open 50 new hotels by 2030, as stated by Vikram Oberoi, CEO and MD of EIH Limited, the flagship company of The Oberoi Group.

“Our vision for 2030 is to expand the Oberoi brand and the Trident brand. We’d like to open 50 new hotels by 2030. And some of the hotels will be smaller,” Oberoi said at the Skift India Summit on Wednesday.

“One of the things that we’re working on and we’ve got an internal name for it, which is Oberoi Nature. That won’t be the final branding, but these are smaller hotels in beautiful locations and have a strong sense of place. And all our research on guests tells us that is something that they would deeply value,” he added.

Continue Exploring: Indian hospitality industry set for a record-breaking 2024: Surge in new hotel rooms expected

In response to inquiries, a spokesperson for the Oberoi Group clarified that the company has no plans to introduce a new luxury hotel brand.

Oberoi outlined three reasons why growth holds significance for the chain.

“When guests travel, we want them to stay at our hotels. We need to be in locations where guests travel to. Certainly, in key locations in India and maybe in key geographies overseas,” he said.

“Secondly, attracting, retaining and growing talent is something that’s very close to our heart. We want people to grow with Oberoi rather than grow elsewhere. Thirdly, growth is an important criteria for creating shareholder value,” he added.

Oberoi additionally mentioned the necessity for hotel rates to rise in India.

“I sometimes feel our rates in India should be much higher. I urge all our colleagues to drive rates up. Because we have amazing hotels. Whether it’s Taj, Leela, or Oberoi. Our hotels are world class in India,” he said.

“If you compare us to hotels in other parts of the world, our rates offer fantastic value for money. In fact beyond that. So, there is an opportunity to catch up with the rest of the world on rates,” he added.

EIH Limited, the flagship company of The Oberoi Group, reported operational revenue of INR 770 crore for the third quarter ended on December 31, 2023, indicating a year-on-year jump of 28%.

The company posted a profit after tax of INR 230 crore, marking a 55% increase compared to the corresponding period of the previous fiscal year.

EIH announced that its subsidiary, Mumtaz Hotels, approved the construction of a luxury resort in Gandikota, Andhra Pradesh, during its board meeting on January 31, 2024. The project is expected to necessitate an estimated investment of INR 60 crore.

In its annual report for 2022-2023, EIH highlighted hotels and resorts in the planning and development stages. Specifically, it noted The Oberoi Group’s involvement in the development of The Oberoi Rajgarh Palace, a luxury accommodation project located near Khajuraho, Madhya Pradesh. The company described the resort as offering upscale lodging on a 62-acre site adjacent to the Panna forest reserve.

Continue Exploring: Hotel chains tailor loyalty programs to woo Indian customers amidst travel boom

EIH also announced that it has received land use consent for its 55-acre beachfront property in Goa.

The chain also mentioned in the report that construction is underway for The Oberoi Wildlife Resort Bandhavgarh, located on a 22-acre site, just five kilometers away from Bandhavgarh National Park in Madhya Pradesh.

An overseas subsidiary of the company will manage two resorts, The Oberoi and Trident, on Koh Tan island, situated southwest of Koh Samui in Thailand. Additionally, the chain is progressing with The Oberoi Kathmandu, situated on a five-acre greenfield site. Moreover, The Oberoi Wildlife Resort, positioned near Bardia National Park in Nepal, will be established on a greenfield site spanning roughly 30 acres. Furthermore, a Trident resort in Tirupati, Andhra Pradesh, is anticipated to commence operations in the first quarter of 2027.

In its annual report, EIH also mentioned that a deed of variation has been signed between the company’s overseas subsidiary, EIH Holdings Limited, and Al Zorah Development for a 174-key hotel.

Gruhas Gusto kicks off its first cohort with 7 exciting start-ups selected for accelerator program

By

SnackTeam

-

March 21, 2024

0

Gruhas, Jubilant Bhartia Family Office, DLF Family Office, and Anthill Ventures have come together to announce the unveiling of the first cohort of Gruhas Gusto – a unique food and food tech accelerator program. This Cohort features seven remarkable startups poised to reshape the landscape of the food and food tech industry. This dynamic initiative will empower these startups with strategic investments, expert guidance, and unparalleled market access opportunities, fostering innovation and sustainability throughout the sector. The program officially launches in Gurgaon’s Quorum on 18 March 2024 with an event that will circulate on introductions, keynote addresses, and extensive networking.

The selected startups cover a diverse range of groundbreaking solutions in areas including food logistics and infrastructure, health foods, technology-powered solutions, agritech and packaging technology, food waste management, FMCG, cloud kitchens, restaurants, QSRs, and retail distribution.

Included in the chosen startups are:

Evolve Snacks: Evolve Snacks specializes in health-focused snacks, with their product catalog comprising nuts, dried fruits, chews, chips, and other snack varieties.

Grabenord: Grabenord is a plant-based gourmet food brand offering a variety of products including vegan cheese, vegan butter, kombucha, apple cider vinegar, and a selection of plant-based cheeses.

The Fresh Press: The Fresh Press is a cold-pressed juice company driven by the belief that everyone deserves a healthy lifestyle. Serving an assortment of delicious and nutritious options such as cold-pressed juices, smoothies, shakes, fruit platters, desserts, and more, all crafted from wholesome natural fruits.

Rio: Rio presents a range of enticing beverages, from the revitalizing BUBBLY FRUIT DRINK (BFD) featuring exotic blends, honey, and Vitamin C for a “better for you” choice, to the energizing BOOM ENERGY DRINK, designed as a value-packed booster catering to 18 to 35-year-olds and rapidly gaining traction in Tier 2 towns.

The Naturik Co: The Naturik Co aims to establish itself as the go-to breakfast brand, featuring a protein-rich, healthy, tasty, and convenient product lineup.

Hemptyful: Hemptyful offers a range of products made from hemp seeds, including dips and cold-pressed oils. These premium offerings are crafted with care to provide a rich source of protein, omega-3, and essential nutrients, promoting a wholesome and balanced diet.

Recipeat: Recipeat is developing a centralized recruitment SaaS platform for restaurants and hotels to expedite staff hiring by threefold, utilizing its AI-driven match-making algorithm and rating system.

Continue Exploring: Investor appetite grows for homegrown food and beverage startups as demand skyrockets

Gruhas Gusto aims to foster innovative solutions for enhanced well-being and dining experiences, offering start-ups extensive support in various business aspects. The program provides scaling opportunities and market access through collaborations with industry pioneers. It will conclude with an event where each startup will have the opportunity to pitch to a room full of sector-specific investors.

Abhijeet Pai, Co-Founder of Gruhas, said, “The Food & Beverage Tech industry is at its inflection of innovation, market size and potential. Gruhas understands that after AgriTech, food and foodtech demand more attention going forward. With this thought, we look forward to supporting this first incoming Cohort of Gruhas Gusto as they navigate the F&B Tech industry and scale new innovations and concepts.”

Sailesh Sigatapu, Partner at Anthill Ventures, stated, “With our extensive experience, our objective is to offer these startups a speed scaling ecosystem like no other that helps expedite their growth while establishing a viable business model. We accomplish this by building a strong product-market fit from the start and refining their business model before assisting them in developing a measurable plan for long-term growth. We provide a venue for founders to bring their vision to life while ensuring that their idea is commercially feasible and financially healthy by delivering a combination of concentrated mentoring, information sessions, and money. We are devoted to assisting each cohort to exceed its potential and making a difference in the industry.”

Continue Exploring: A-Listers Spice Up Their Portfolios with Bold Bets on India’s Booming F&B Startups

The program is further bolstered by strategic partnerships with RPSG Capital Ventures, Omnivore, Caspian Equity, Sathguru Catalysers, Venture Catalysts, Mumbai Angels, Upaya Social Ventures, Lead Angels, FAAD Network, HT Media, Startup Story, Tamada Media, Let’s Influence, StartupNews.fyi, Food Safety Works, Fierce Kitchens, Finance Box, TiE Mumbai, WEQ Technologies, Ciba Goa, Headstart, CoKarma, Indigram Labs, F6S Partner Network, Kanchan Metals, SocialPi, The Mend Packaging, The New Shop.

The second brainchild of Gruhas, Jubilant Bhartia Family Office, DLF Family Office, and Anthill Ventures, Gruhas Gusto comes shortly after the success of their foray into Proptech with Gruhas Aspire rounding off its second successful cohort.

India’s direct selling industry surges by 12% in 2022-23, hits INR 21,282 Crore turnover: IDSA Report

News

By

SnackTeam

-

March 21, 2024

0

India’s direct selling industry experienced a remarkable growth of over 12% year-on-year in 2022-23, as revealed by a report released on Wednesday by the Indian Direct Selling Association (IDSA) and compiled by market researcher Kantar. The industry achieved an overall turnover of INR 21,282 crore during this period.

The report highlighted that the sector experienced a Compound Annual Growth Rate (CAGR) of 8.3% over the four-year span from 2019-20 to 2022-23.

According to the report, wellness and nutraceutical products contributed to 73.5% of the industry’s overall turnover, while cosmetics and personal care accounted for 11.3%. The survey noted an increase in the number of active direct sellers, reaching around 86 lakh from 84 lakh in 2021–22.

Continue Exploring: Retail sales show modest 5% increase in February 2024: RAI Survey

Vivek Katoch, chairperson of IDSA, said in a statement, “The direct selling industry is poised to strengthen further in the years to come on the back of a promising regulatory framework by the government.”

In 2022, India climbed to the 11th position in the global direct selling ranking, a notable improvement from its 15th position in 2019.

Direct selling companies distribute their products directly to consumers through their member-sellers rather than using retailers. Companies like Amway, Oriflame, and Herbalife advocate for stricter regulations and clearer distinctions from multi-level marketing schemes, aiming to set themselves apart from fraudulent schemes.

In the middle of last year, the Ministry of Consumer Affairs made amendments to the Consumer Protection (Direct Selling) Rules, 2021, via a notification. These modifications aimed to differentiate between fraudulent pyramid and money-circulation schemes and genuine direct-selling enterprises. However, executives from IDSA have emphasized the necessity for additional clarity in defining the term ‘network of sellers’.

Continue Exploring: India’s retail market set to hit $2 Trillion in next decade: BCG-RAI Report

Jack Daniel’s maker, Brown-Forman, appoints Gaurav Sabharwal as MD for India and South Asia

By

SnackTeam

-

March 21, 2024

0

Brown-Forman Corporation, renowned for producing Jack Daniel’s Tennessee whiskey, has appointed Gaurav Sabharwal as its new managing director for India and South Asia.

Based out of Gurgaon, Sabharwal will report to Eveline Albarracin, vice-president and managing director of Brown-Forman ANZPI (Australia, New Zealand, Pacific islands), IMENA (India, Middle East, North Africa), and Turkiye, as stated by the US spirits and wine maker.

Sabharwal said he “will strive to help consumers in India discover the world of American whiskeys”.

Continue Exploring: Indian alcoholic beverages industry set for margin improvement and sales surge in FY2025: ICRA

“Additionally, the recent acquisitions of Gin Mare and Diplomático, along with much loved Woodford Reserve, provide a big opportunity for accelerating premium brands from our global portfolio as we aim to step change the business in India,” he said in a statement.

Before Sabharwal, Siddharth Wadia was heading the South Asian region until he was elevated as IMENA region head in 2019. Since then, the post has been vacant.

Bringing over two decades of experience in beverage and consumer goods companies, Sabharwal has previously held various commercial leadership roles at Diageo.

Welcoming him onboard, Albarracin said, “India and South Asia have been identified as key emerging markets for us.”

Continue Exploring: AB InBev and PepsiCo collaborate to launch alcoholic 7Up in Canada

Mondelez refocuses SnackFutures on venture capital investments

By

SnackTeam

-

March 20, 2024

0

Mondelez International has redirected its SnackFutures division to concentrate specifically on venture capital investments.

In 2018, the snacks giant established SnackFutures with a focus on three core areas: pioneering new brands and ventures in strategic sectors, revitalizing smaller Mondelez brands with significant growth potential, and collaborating with startup innovators to foster new business ventures.

Through SnackFutures, Mondelez made a series of investments in smaller brands. In 2019, one notable investment was made in the US snacks business Hu Master Holdings, which the owner of Lu biscuits fully acquired two years later.

Continue Exploring: Mondelez International invests in Spanish startup Pack2Earth for sustainable packaging solutions

The unit subsequently shifted its focus towards VC-style investments and product launches. This included the introduction of CaPao snacks and Ruckus & Co., a line of lunchbox smoothies for kids.

In 2021, Mondelez launched an accelerator called CoLab to collaborate with emerging businesses in the sector the Cadbury maker referred to as “well-being snacks”. CoLab operated within the SnackFutures framework.

The US giant opted to assign SnackFutures the specific task of investing in “scale-up” companies and phased out CoLab. Additionally, the unit was rebranded as SnackFutures Ventures.

“SnackFutures was created five years ago to drive strategic growth for the company and that is still the case,” Richie Gray, the head of SnackFutures, said.

Gray said the focus of the unit was changed to support Mondelez’s overall efforts to “strengthen our core – chocolate, biscuits and baked snacks – as well as expand into new categories, for example, wellbeing [and] personalised nutrition”.

Continue Exploring: Mondelez International reports strong Q4 sales surge, but volume decline spurs a 2% share drop

He added: “With this in mind, we shifted to being corporate-venture capital hub focused mostly on investing in scale-up, fast-growing companies in our core while still staying close to emerging brands, businesses and technologies.”

Gray said Mondelez would not disclose if it had made changes to the level of investment it is willing to put toward the SnackFutures Ventures unit.

From Olipop to Oreo: Brands roll out retro-inspired products to tap into consumer nostalgia, says GlobalData

By

SnackTeam

-

March 20, 2024

0

Retro packaging — (Representative Image)

Recent findings from data analytics company GlobalData indicate that brands are introducing products and packaging with a retro flair, likely influenced by a growing sense of nostalgia among consumers.

GlobalData reports that the aftermath of swift social and economic shifts following the Covid-19 pandemic has spurred heightened nostalgia among American consumers for the past. This has prompted brands to reintroduce products and packaging that evoke a sense of familiarity.

According to Meenakshi Haran, the principal consumer analyst at GlobalData, nostalgia frequently evokes sensory experiences for consumers, stirring sentimental emotions tied to a particular time or place they’ve encountered in the past.

Continue Exploring: Amcor and Mondelēz International collaborate to introduce recycled plastic packaging for Cadbury Chocolate products

Haran said, “They seek familiar flavours, fragrances or products that take them back to that time or place. Americans, in particular, are feeling nostalgic about the ‘good times’ and looking for familiarity in the food and drinks products they choose, as affirmed by 67% of respondents in GlobalData’s consumer survey.”

She explained that brands are tapping into this by reintroducing old-style flavours and products, adding, “Olipop, for instance, claims to be a new kind of soda in retro cans, reminiscent of nostalgic packaging designs, while Spindrift, a sparkling water brand, introduced two new variants inspired by the 1990s when purple grape-flavoured products were popular. Similarly, Oreo debuted its new limited-edition “dirt cake” flavor that claims to be a spin on the classic childhood-favorite, mud-pie dessert.”

Amidst the plethora of new product releases vying for consumer attention, Haran suggests that companies prioritize setting their offerings apart and ensuring they catch the eye on store shelves. Despite the enduring appeal of retro products among American consumers, brands should aim for a harmonious blend of nostalgia and meeting sensory expectations for both visual and taste experiences. This approach can cultivate repeat purchases and boost sales.

Continue Exploring: Indian consumers make healthier choices with two-color front-of-pack labels, new study finds

NewsHub