Since the recession, many “legacy” consumer packaged goods brands have been unable to generate organic growth and are being outpaced by newer, younger players in the game. With consumer interest in CPGs declining, a new report says these larger companies must shift away from the traditional mindset of building growth through price, placement and existing brands, or there will be little room for growth.
In a new Heartbeat EXEC report compiled by Hartman Group CEO Laurie Demeritt and Senior Vice President of Knowledge and Innovation James Richardson, the authors state “legacy brands are dated and old from the perspective of the cultural history of food in America … and there is something fundamentally alluring about newer, younger brands in American food culture.”