Hershey highlights growth strategy
Hershey is capturing the opportunity for planned and unplanned purchases as digital shopping grows.
The company provided an unprecedented glimpse into how its digital growth strategies are fully integrated with its in-store retailing programs, at an Analyst Event at its Global Customer Innovation Center (GCIC) in Hershey, Penn.
“While the retail environment continues to change how our products are purchased, consumer desire for our brands remains,” said Michele Buck, Chief Executive Officer of The Hershey Company. “We have the right vision, strategies, organization and talent to drive commercial advantage and our far-reaching digital transformation efforts are an important element to win in the fast-changing retail landscape.”
In April, the company announced its plans to become more than a chocolate company, by rebranding itself as a snacking company. The U.S. is being overtaken by one-handed eaters and Hershey wants a much bigger bite of the $88 billion snacking industry.U.S. chocolate this year grew at a rate of only 0.7 percent, according to Nielsen. Hershey has been losing market share and there are now emboldened, deep-pocketed competitors attacking its core. It's lowered its long-term sales growth targets twice in two years. Cocoa prices are rising. It's in need of growth.
Key insights shared with the analyst community include:
How digital transformation fits into Hershey’s innovative snacking powerhouse vision
Detail around Hershey’s “5C” digital strategy, including the company’s emphasis on its consumer-first orientation to deliver on their needs and expectations
An overview of snack shopping behavior, the retail models that exist today and how Hershey is deploying its portfolio to win against each model and trip mission
The role data plays in developing one-to-one connections with its consumers
To listen to the entire Analyst Event, click here.