A terrific article in Ad Age—entitled Big Food's Big Problem: Consumers Don't Trust Brands—highlights one of the key challenges facing CPGs today.
Consumers are shifting away from heavily processed foods and seeking healthier, more authentic solutions.
"Campbell Soup Co. CEO Denise Morrison recently summarized the situation using unusually stark language when she told financial analysts at a February meeting that 'we are well aware of the mounting distrust of Big Food.' She added that 'we understand that increasing numbers of consumers are seeking authentic, genuine food experiences and we know that they are skeptical of the ability of large, long-established food companies to deliver them.'"
So how do big CPGs shift to meet that consumer demand? Some are taking the reformulation route, others are looking to acquisitions of smaller, upstart brands, and some are taking a step back and reimagining their whole brand.
Regardless of the approach, rebuilding credibility and trust with consumers are critical goals for CPGs.