📈 Profitable Performance & Purpose-based Product Positions

CPG snack brands are focusing on value as high grocery prices curb consumer spending. But that’s not the only way to capture today’s shoppers. A new report from advertising agency BarkleyOKRP has found that brands linking purpose-driven stories and/or sustainability attributes to product qualities like taste outperform their competitors in the $265 billion snack industry. 

The four-year-long brand performance study (which spanned 19,000 consumers and more than 2,000 brands in over 40 categories) found that 45% percent of consumers believe value, purpose and product uniqueness are most important in the snacking category.

Nosh Insiders can access the full report rundown to understand the nuances of purpose-based positions and how they can be used most effectively.

To meet the demands of modern consumers, the food industry must prioritize convenience, nutrition, safety, and dietary restrictions like gluten-free. Jungbunzlauer's bio-based ingredient portfolio is tailored to address these needs in today's evolving food industry. Learn more

Oats Overnight has raised $35 million in a Series B funding round set to support the brand’s retail expansion and its efforts to vertically integrate its production facilities in Arizona and Ohio.

👩🏻‍🏭 The eCommerce-focused brand previously raised a $21 million round last year. The company now has over 350 full time employees (including its manufacturing sites) with plans to continue hiring for the foreseeable future.

🛒 While direct-to-consumer is still the bulk of Oats Overnight’s business, CEO Brian Tate told Nosh that retail has now surpassed Amazon as its number-two sales channel. The brand is sold in Whole Foods, Walmart and Target, among other national chains.

📊 What he said: “We are also putting a lot of investment into retail sales direction that in the [Series A round] was even more nascent. It’s still just a slice of our business given we just went into retail a few years ago, but we are investing heavily into that team and that direction as well.”

Nosh Insiders can read the full story for insight into Oats Overnight’s growth strategy and plans for the new investment.

Charles Coristine, the CEO of high-flying better-for-you snack brand LesserEvil, talks about the company's self-manufacturing model and how it relates to retail strategy, innovation and gross margin, why making organic foods affordable is both moral and fiscally wise and what he’s learned about staffing, leadership and branding.

Listen to the full episode now.

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