Campbell Soup Co. continues to look at ways to redesign the brand
Feb. 23, 2017
by Keith Nunes
Campbell Soup is building an e-commerce ecosystem.
BOCA RATON, Fla. — During a Feb. 17 conference call with financial analysts, Campbell Soup Co. CEO Denise Morrison reflected on the company’s performance and said she was not satisfied. During a Feb. 22 presentation at the Consumer Analyst Group of New York conference, Morrison shifted gears and offered her audience a glimpse of four trends that may change the trajectory of the company.
|Denise Morrison, CEO of Campbell Soup
“As I said then, and I’ll say again now, our progress should not solely be measured by short-term performance,” Morrison said. “Sure, it matters. But it’s also important to view our performance as an evolution over the long term.”
With the long-term view in mind, Morrison identified four trends the company believes hold the greatest promise for Campbell Soup. They include future commerce, personal moments, the further evolution of health and wellness and “limitless local.”
Campbell Soup already offers an Amazon dash button and multiple recipe web sites.
“As it’s been widely discussed, e-commerce will transform the food industry, as it’s already done with entertainment and apparel,” Morrison said. “Between 2016 and 2021, we project e-commerce sales of food and beverages to reach $66 billion, a compound annual growth rate of 38 percent.”
In response, she said an e-commerce ecosystem is being built that includes delivery services, click and collect options and subscription-based meal services that will force companies like Campbell Soup to develop more customized, demand-driven supply chains.
“Campbell has initiated many digital and e-commerce programs, including meal kits, buy now capabilities, recipe integration with leading recipe sites and dash buttons to name a few,” she said. “But future commerce will be driven by emerging mobile and digital technologies, including artificial intelligence, [Bots] augmented in virtual reality, new forms of currency and methods of transaction.
Campbell Soup aims to have its brand top of mind when connected kitchen grow in popularity.
“Through the Internet of Things, connected kitchens will alert consumers when they are running low on broth and when their salad dressing needs to be replenished. The key is to make sure that that’s Swanson broth and Bolthouse Farms salad dressing.
“Essentially, this constitutes a new architecture, an always on shopping environment that provides consumers with instant and omnipresent ratification and will be free of inconvenience and delays. Shopping for and preparing meals will be flexible, fully automated and even anticipatory.”