Kroger Q4 2020 sees sticky customer engagement in digital business, first Ocado automated warehouse goes live Kroger closed Q4 2020 with total sales (excluding fuel) up 10.7% to $30.7bn compared to Q4 2019, and a 118% boost to digital sales for the quarter.
Within its digital business, delivery sales grew 249% during the quarter as more and more new customers engage with the companies
“seamless ecosystem,” said Kroger CEO Rodney McMullen on the company’s Q4 2020 earnings call.
“We see a 98% retention rate within our ecosystem highlighting how sticky our customer engagement is,” McMullen said.
McMullen noted how the company continues to improve its digital profitability and is advancing its personalized shopping experience leveraging data analytics to forge deeper relationships with its customer based.
Grummies democratizes superfoods with a gummy format Many consumers are aware of the nutritional value so-called superfoods have, but few can commit to a daily diet packed with turmeric, ashwagandha, and elderberry (and even fewer enjoy the taste). This hangup was the impetus for Grummies, a brand of gummies containing a variety of functional ingredients.
The global gummy vitamins market is estimated to be valued at $5.9bn in 2020 and is projected to reach $10.6bn by 2025, growing at a CAGR of 12.5%.
Grummies is taking what founders Nick Michlewicz and Colin Darretta believe is a cleaner approach to making their gummies. Gummies are the fastest growing category in the wellness space, but most are not very good for you, claimed Michlewicz, pointing out the category s use of sweeteners such as corn syrup and glucose syrup, and use of artificial colors and flavors.
Investing in the Future of Food: Manna Tree investors seek emerging brands focused on human health As the ongoing pandemic accelerates consumer interest in the role of nutrition in wellness and underscores the supply chain’s fragility, the investors at Manna Tree Partners are looking for at least three growth stage companies that are revolutionizing the production, delivery and consumption of food to support human health.
With $235 million in assets under its management as of last month and six investments already in its portfolio to date, Manna Tree’s managing director Pam Shepherd shares in this episode of FoodNavigator-USA’s Investing in the Future of Food where she see the most potential to improve human health and create a more transparent, stable supply chain.
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Danone North America CEO on plant-based trends, why soymilk is back in growth, and the Follow Your Heart deal By Elaine Watson
Shane Grant: Our plant-based business in North America grew by 17% [in 2020] (Picture credit: Danone North America) US retail sales of soymilk - which have declined precipitously over the past decade – have started to grow again, says Danone North America, which is spearheading the turnaround with its Silk brand, the leading player in the soymilk segment.
According to SPINS data, US retail sales of soymilk declined 0.9% to $201.4m in the year to Jan, 24, 2021, a startling drop from a decade or so ago, when they topped $1bn. To put this into perspective, almondmilk sales were up 16.9% to $1.59bn over the same 52-week period, while sales of relative newcomer oatmilk surged 219.3% to $264.1m, catapulting it into the #2 spot in the plant-based milk category behind almondmil
Danone splits chairman and CEO functions, begins recruitment process for new CEO Danone s Board of Directors has confirmed a proposal from current chairman and CEO, Emmanuel Faber, to separate the functions of chairman and CEO in the near future, and has begun looking for a new CEO.
Danone said it has launched the recruitment process for a new CEO, and once complete, Faber will focus on his role as non-executive Chairman. In the meantime, Faber will continue as chairman and CEO of Danone.
The multi-billion dollar global CPG company, which has a strong presence in dairy and a growing portfolio of plant-based dairy alternatives, came under pressure after activist investor, Bluebell Capital Partners, criticized Danone for its