Consumer preferences are evolving, and Hershey is adapting by prioritizing innovation. With iconic brands like Kisses, Reese’s, and Dot’s, Hershey is focusing on product innovation and carefully selecting which consumer trends to invest in.
The company is not only enhancing the products themselves but also paying attention to packaging and display strategies in stores. Tiffany Menyhart, Hershey’s chief customer officer, discussed innovation, consumer trends, and purchasing behaviors at the Sweets & Snacks Expo.
Menyhart highlighted Hershey’s approach to innovation, emphasizing “fewer, bigger, better” everyday items and strategic limited-time offers like Reese’s Peanut Butter and Jelly. The goal is to bring new and unique products to drive growth.
Innovation becomes even more crucial in the face of inflation and changing consumer spending habits. Hershey focuses on offering value through various strategies like pricing adjustments and promotional activities.
Hershey has also revamped its packaging, introducing stand-up pouches for better shelf visibility. The company’s move towards stand-up snack size packaging aims to enhance the consumer experience and drive sales.
Merging sweet and salty offerings in end cap displays at grocery stores has proven to be beneficial for Hershey, with combined merchandising leading to higher overall sales lifts.
Despite challenges like tariffs and inflation, Hershey remains resilient by investing in U.S. manufacturing facilities and exploring alternative supplier sources. The company’s commitment to meeting consumer demands and supporting retail partners remains unwavering.