Campbell’s Soup Plans for a Better Year
Campbell’s Soup is planning to introduce over 30 new soup products over the next year in order to increase sales revenue.
The company also has plans to change the look of the Chunky and Select Harvest lines with new labels. The products will include more flavors and a new marketing approach, according to The Wall Street Journal
Campbell’s Soup recently saw declining sales for the eighth straight quarter, with ready-to-serve soup sales decreasing by 9 percent.
Both the company’s condensed soups and broths received new marketing strategies, and the results were favorable.
With ready-to-serve varieties, however, the company went "too far too fast," according to chief executive Denise Morrison.
New flavors being added to the Chunky line include "Chipotle Chicken and Corn Chowder" and "Jammin’ Jerk Chicken." The Select Harvest line is adding two new bisques and revamping the label to focus on the "100 percent natural" aspect of the soups.
Campbell also plans to introduce soup that comes in pouches to appeal to a younger demographic, as well as "Skillet Sauces," which can be added to cooked meat to make cooking easier.
The company hopes to increase its snack business as well, adding new crackers in flavors such as "fiesta cheddar" and "lime and sweet chili."
Campbell expects these changes to increase its U.S. market, and hopes they will help them to grow internationally.
Does everyone think Campbell’s is on the downward slope? Check out TDM’s taste test of chicken soup.