Specialty food businesses have had to remain nimble in the face of economic challenges and the changing marketplace.
During a Winter Fancy Food Show main stage education session, taking place January 15 at noon, Jack Acree, EVP of Saffron Food, will anchor a panel including Holly Adrien, natural and organic strategy and innovation manager of Kroger, Karen Farrell, VP of brand services at Presence Marketing, and Hallie Bonnar, co-founder and partner of New Fare Partners. These experts will discuss the biggest issues facing specialty food makers and buyers in 2023.
SFA News Daily spoke with Farrell about the topic.
What is the biggest issue facing specialty food makers and buyers this year?
Continued pressure on the cost of goods and supply, maintaining margins without pricing oneself outside the category, and what the consumer is willing to spend.
Are you surprised by any consumer trends? If so, what?
I am still surprised at how much sugar people eat and I am happy to finally see sugar reduction as a mega-trend, but there is an extremely long way to go.
Do you have any advice for specialty food brands entering the market in 2023?
Make sure to have retail wins locally before you try to scale, unless you have unlimited money and resources. Make small mistakes and learn big lessons early and locally.
Are there any marketing innovations you feel will have a big impact on the industry?
I am excited to see what emerges as social media loses favor. I would absolutely love to see brands move back to more guerrilla marketing tactics and being creative on where they meet their consumers.
Are there any topics you are particularly excited to cover during this panel discussion?
I am excited to discuss the landscape and new brand innovation, the challenges, and the hope. I want to bring a story of hope for those out there with great ideas, layered with the realities of scale and effort.
Related: Industry Voices: 2023 Leadership Award Winners on Business Hurdles; Buyers From All Channels to Attend Winter Fancy Food Show