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Despite softened unit sales and the impact of macro economic headwinds, Sally Lyons Wyatt, global executive vice president and chief advisor, consumer goods and foodservice, Circana, is still optimistic about the state of the snack industry.
“What’s great about snacking is we have something for everyone, and the key would be affordability and availability,” she said in this episode of Since Sliced Bread.
As snack manufacturers have emerged from the high demand of the pandemic, Lyons Wyatt expects 2024 to be the year innovation regains some momentum. And as the economy stabilizes consumers will have new options to experiment with and try.
“Innovation is the life blood of growth,” Lyons Wyatt said. “It’s absolutely necessary, and I am hoping by year’s end we will say ‘Wow, we may not have gotten quite back to pre-pandemic levels of product development, but we are back in business with innovation.’ ”
To hear more about the changing snack landscape and how consumers are shifting their buying, listen to this episode of Since Sliced Bread.
Since Sliced Bread is available to download on a range of applications, including Apple Podcasts, Google Podcasts, Spotify and more. It can also be accessed on Bakingbusiness.com.
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