Publish Date
Dec 17, 2020
Food For Thought: Helping Food Companies Navigate a Seismic Shift
Service / Industry: Consumer Products
As the pandemic raged in early 2020, the unprecedented surge in demand initially buoyed the performance of most food companies. Nine months later, as the economic crisis continues to impact families, there have been significant “sticky” shifts in consumer spending, preferences and eating behaviors. COVID-19 effects have gone far beyond pantry loading, and what started as imposed behavior changes are now becoming learned behaviors, here to stay for consumers. CPG food companies must be cognizant of these swings and evolve to meet these redefined consumer needs.
Have food companies equipped themselves to adapt to the disruptive forces of the pandemic? How can they create the resiliency to both navigate the near term, as well as prepare themselves for those changes we believe will survive beyond the pandemic? We at A&M’s Consumer and Retail Group explore these impacts and a set of imperatives for CPG food companies to thrive in the new normal.
Authors
Shiv Iyer
Shiv Iyer is a Managing Director at Alvarez and Marsal, Consumer and Retail Group in Chicago.
Chad Lusk
Chad Lusk is a Senior Director with Alvarez & Marsal Consumer and Retail Group in Chicago. Mr. Lusk specializes in corporate performance transformation across retail, consumer goods, and consumer-facing industries, with a focus on growth strategy, marketing, new product development, business model innovation and customer experience redesign.
Rishu Thukral
Rishu Thukral is a Senior Director with Alvarez & Marsal Consumer and Retail Group in Chicago. His primary areas of concentration are supply chain strategy, merger integration, omnichannel supply chain design and operations improvement.
