On this episode of The Velocity of Tradition podcast, Suzy founder and host Matt Britton interviews Dan Mohnshine, vp of U.S. advertising and marketing for confection at The Hershey Firm.
Mohnshine discusses the evolving shopper developments influencing Hershey’s methods, the significance of innovation—just like the launch of Reese’s Caramel Large Cup—and the way Hershey’s is embracing well being and wellness for the entire snacking expertise.
The Hershey Firm, an undisputed chief within the confection business, continues to innovate and adapt in a quickly altering market. Recognized for iconic manufacturers like Reese’s, Twizzler, Jolly Rancher and Equipment Kat, the corporate isn’t just about chocolate however the complete snacking expertise. With a concentrate on shopper developments, digital transformation, and health-conscious merchandise, Hershey’s is setting new requirements within the business.
Mohnshine is a seasoned advertising and marketing chief with in depth experience in shopper merchandise, model technique, and multibillion-dollar P&L administration. Earlier than becoming a member of The Hershey Firm, Mohnshine honed his expertise at Kraft Meals.
“Understanding different parts of the value chain is so critical,” he says on the podcast. “You start with the consumer, but then you back up to what needs to be true to win their purchase, to win market share, and to be profitable at the same time.”
Take heed to Mohnshine on the Velocity of Tradition podcast and achieve insights into the way forward for shopper developments and innovation within the confectionery business.
Key takeaways:
01:35-02:42 Prime Shopper Traits — There are three key developments driving the confectionery business: worth, innovation, and well being and wellness. With the current excessive inflation interval, customers outline worth otherwise—some prioritize comfort, others value factors. Publish-Covid, there was a major return to innovation. Lastly, well being and wellness developments concentrate on eradicating undesirable elements like sugar. Understanding these various shopper must ship worth successfully is essential.
04:25-05:13 Embracing Comfort and Fast Commerce — With DoorDash experiencing vital progress, comfort stays paramount, notably for increased socio-economic customers. On the different finish of the spectrum, customers are searching for a particular value level. For The Hershey Firm, this interprets to seamlessly integrating merchandise like Reese’s King Measurement Cups into supply orders. This technique highlights the significance of using fast commerce platforms to drive impulse purchases and fulfill customers’ calls for for comfort and accessibility.
05:13-06:11 Revolutionary Product Launches — For Reese’s Caramel Large Cup, Hershey’s added a layer of caramel to the basic peanut butter and chocolate mixture to create a brand new textural expertise. This innovation displays broader developments of taste and texture improvements infiltrating the U.S. market. For example, influences from worldwide flavors, resembling creamier or spicier varieties, are being integrated to satisfy evolving shopper preferences.
11:44-13:06 Give attention to Well being and Wellness — Hershey’s has seen vital success with their zero sugar and plant-based traces in response to the rising demand for health-conscious merchandise. The zero sugar platform, led by Reese’s, is successful amongst customers trying to scale back sugar consumption. Plant-based merchandise are additionally successful, tailor-made for vegan customers and people with dairy allergic reactions. By providing various choices resembling portion-controlled Reese’s Thins, zero sugar, and plant-based merchandise, Hershey’s successfully meets the wide-ranging well being and wellness preferences of at the moment’s customers.
