In early October, Prepared Foods held its 37th annual New Products Conference, where themes of sustainability underpinned many of the speaker presentations. New Products Conference sessions surrounding upcycled foods, food waste and plant based foods each contained overt and tangential messages about corporate responsibility and sustainable food production.
Periodically, Smithfield Foods engages in sessions called Smithfield Innovation Labs, in which chefs are invited to experiment with the company's products in order to generate innovative approaches for product application.
Product packaging that remains after use is a burden. It’s a burden to consumers, to communities and to the environment. My sense is that products positioned with sustainable packaging messages are going to dominate categories and eventually set a baseline for market entry.
While attending the 2019 IRI Growth Summit in Denver, I learned that IRI is making artificial intelligence (AI) and machine learning enhancements to its suite of data and analytic tools.
As part of its Walmart Reimagined campaign, the retailer is aiming to boost store traffic by converting excess parking space to experimental communities comprised of food halls, recreation areas and even mobile healthcare units.
The mountain of money spent to market products and influence consumer behavior may only be 5% effective, according to Dr. A.K. Pradeep, CEO, MachineVantage.
Chicago is home to a number of food and beverage incubators and accelerators, which provide invaluable support to young companies struggling to navigate early growth stages.
New ideas, inspiration and innovation are essential in the modern marketplace. In recent years, food and beverage companies have placed an emphasis on these aspects of business by creating such roles as “director of innovation,” “chief innovation officer” and “vice president of product innovation.”