Campbell's revealed its net sales are soaring and they reckon a recession is no match for them.
👉 Background: Campbell’s Soup is a US food company, with its flagship product being canned soup... Like the cans Andy Warhol painted. It was founded more than 150 years ago and and has grown into a US$14 billion company.
👉 What happened: The good times are rolling for this soupy crew. Its net sales increased 7% year-on-year to US$2.13 billion.
👉 What else: The company reckons even if the economy hits a recession, it'll stay on track. Why? Because it's got such a big bank of food brands - ya know, low-cost fun for everyone!
💡As people’s habits change with the seasons… so do their food habits. Fast moving consumer goods companies need to diversify their product range to appeal to all people in all seasons.
💡In fact, research shows that people are 3.4 times less likely to buy ice cream in the cold months than in the hot ones 🍦.
💡 Luckily for Campbell's, it can cover nearly any meal at nearly any time of year thanks to a number of mergers and acquisitions, which saw it bring brands like V8, Prego and Kettle under its wing.
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