Weekly Updates 09/18/23

The Online Community for Food and Beverage Startups

Good morning!It seems like every brand I'm talking with is focused on retail growth, which is definitely a double-edged sword. There are a lot of opportunities and watchouts, so wanted to provide you with solutions to some of the problems you may be facing: Do You Have the Buyer Contact Info for [Insert Retailer]? Our Buyer Directory has contact information for 499 retailers (Requires Premium Membership)Do You Have a List of Distributors? Yup we do, check out our Guide to Grocery DistributorsWho are the Key Retailers in Each City? Check out our retailer guides for Chicago, New York, Los Angeles, San Francisco, Austin, and Minneapolis.How Do I Measure Velocity? Velocity (Units sold per store per week) is the key to retail success, but how do you actually track this? Once you're selling in 500+ stores you need to use Crisp to keep track of your in-store performance.Planning, Executing, and Measuring Promotions Are you keeping track of all the retailer promos you have going at the same time? Are your promotions providing the sales lift you're expecting? Are distributors charging you the correct deductions of OIs? Use Promomash to plan, execute, and measure your in-store promotions.Need Category and Brand Performance Data? Data helps you make better decisions, but isn't it expensive? As part of the Foodbevy community, you get FREE data reports with NielsenIQ.Need to Drive Trial and Sales at a Retail? Using a digital rebate program is easy and effective. Check out offerings from Aisle and WeStockHow do I Better Merchandise My Products? If you need help with merchandising, read our Ultimate Guide to MerchandisingWhat other retail support do you need?Jordan

 😋 This Week in #CPG

A roundup of CPG news that happened last week brought to you by Amber Caro

🛒 Retail Rollouts➡ Love + Chew Brands launched their 16 count mini banana bread cookies into Costco Wholesale after a successful test earlier this year! (Lauren C.)➡ Genexa rolled out into Whole Foods! (Arik Johnson)➡ Petit Pot launched their rice pudding into Whole Foods! (Pierre Jamet, Eric Lallart)➡ Dream Pops rolled out into New Seasons Market!➡ Absurd Snacks' trail mix can now be found in Whole Foods Market in the DMV area! (Grace Mittl)➡ Actual Veggies' Black Bean Veggie Burger and Sweet Potato Veggie Burger are now available at Sprouts Farmers Market! (Hailey Swartz)➡ SOMOS Foods will be available at Target starting September 24th! Miguel Leal, Anna Sawch)➡ Roli Roti chicken fajitas can now be available in Costco in the Southeast region! (Thomas Odermatt)➡ Pitaya Foods launched their smoothie bowls nationwide in Walmart!➡ Dan-O's Seasoning is now available at Publix Super Markets! (Dan Oliver)➡ Blind Tiger Spirit-Free Cocktails is now available at Giant Foods stores! (Rebecca A. Styn, Ph.D.)➡ Whoa Dough is now available at ALL Ohio Beyond Juicery + Eatery locations!➡ KOS launched their single-ingredient gusset bags into Fresh Thyme Market.➡ Quebracho Empanadas are now available at 50 Cub Foods Store locations!➡ Sweet Nothings has 3 flavors of Nut Butter Bites now available at Fresh Market locations!🚀 Product / Brand Launches➡ Love + Chew Brands launched their pumpkin chip cookies in both 2oz and 1 oz sizes!➡ Iconic NYC Brand CRUMB Cupcakes is back! CRUMBS cupcakes and their new cookie jar line will now be available via nationwide shipping with same day delivery available through your favorite delivery apps! They are also available in select NYC grocery stores. (Original CRUMBS Bakeshop)➡ VGAN launched chocolate coffee and pink raspberry almond chocolate bars into 1500 Walmart stores! (Thomas Kraft)➡ Doughp launched a new flavor - Pumpkin Spice - into Sprouts Farmers Market!➡ Bake Me Healthy launched their third product - Banana Bread & Muffin Plant-Based Baking Mix!➡ Hazlo launched their newest product - a Lime and Mint Spritz!💸 Investments / Acquisitions➡ PMVF, a million-dollar student-run venture capital fund operating under Emory University’s Goizueta Business School, proudly announces its recent investment in TUYYO Foods.Who did we miss? E-mail Me

JOYFUL CO. REDESIGN

    TELLING YOUR AUTHENTIC STORY   

The past few weeks I've been struggling a bit with how to tell my Joyful Co. founder. Why? I was making it all about me... but it wasn't just about me. You see, I'm a terrible gift giver, and I don't have any "authority" for why people should trust me in curating their gifts.The reality is that my wife is the one who curates all of our gift boxes because she has an amazing eye for high-quality products people will love. She's as core to the story as I am. So that's what I'm leaning into.Whether you’re a great gift giver or a terrible one, together we have made it easy to send the perfect gift to spread more joy to the people you care about.That story IS real and feels much more authentic... Now I just have to convince her to be my co-founder...

WEEKLY UPDATES

    WEBINAR: ASK AN EXPERT-     THE BEST WAYS TO USE     DATA FOR CPG BRANDS   

As a CPG brand, you know that you should use data to support your business, but where any how do you find the data you need?

Join me for our Ask an Expert Session as I’m joined by my guests from NielsenIQ to answer all your data questions.

We’ll cover:

• How to find data for your brand

• How to find category data

• Utilizing data for investor and retailer pitches

Register Now

  REVOLUTIONIZE YOUR RETAIL     SUCCESS WITH PROMOMASH +     CRISP  

Are you ready to take charge of your destiny in the retail world? We're excited to introduce you to a game-changing partnership that will empower your business like never before.

Introducing Promomash + Crisp, the dynamic duo that puts you in control of your retail success. Imagine having access to daily sales data from major retailers, seamlessly integrated into a single platform. With Promomash + Crisp, you can plan, analyze, and enhance your promotions based on real sales insights – all in one place, with just a few clicks.

Say goodbye to spreadsheets, manual work, and unnecessary costs. With Promomash + Crisp, you can:

1. Plan: Enter trade spend and retail promotions with performance projections in Promomash.

2. Refine: Continuously improve your projections using actual scan data from Crisp, updated as frequently as daily.

3. Close: Reconcile and finalize your promotions using settled transaction data and captured deductions.

As a startup or emerging brand, Promomash + Crisp together gives you insights that were only previously available to big CPGs with deep pockets and armies of analysts.  Now as a Foodbevy member, you can watch it work in the context of all your promotional activities free for 30 days.

Learn More

    MARGIN IMPROVEMENT STRATEGIES     IN VITAMINIS' FIRST YEAR OF     OPERATION   

In its first year, Vitaminis faced two crucial margin improvement challenges that set the stage for future success. This article explores how adaptability and efficiency played a pivotal role in the early stages of the consumer business. Initially grappling with high co-packing costs and packaging inefficiencies, Vitaminis transformed its operations, reducing costs by 44% and packaging expenses by 34%. 

Read Full Article

  5 BIGGEST ACCOUNTING MISTAKES     FOR CPG BUSINESSES  

For Consumer Packaged Goods (CPG) businesses, effective accounting is crucial for understanding financial health, making informed decisions, and ensuring sustainable growth. However, several common accounting mistakes can hinder the success of CPG businesses. In this article, we will explore these mistakes and emphasize the importance of accurate and timely accounting.

1. Revenue Recognition Errors

2. Inventory and Cost of Goods Sold (COGS) Mismanagement

3. Deductions Misallocation

4. Cash Flow Misunderstanding

5. Timeliness of Reporting

Read Full Article

  SUPER CHARGE     YOUR TEAM  

Pantry's platform allows you to slice and dice revenue data to make decisions that save on margins. Grow your business -- don't spend time building out complex spreadsheets to forecast your sales and production. Pantry will make your data easy to understand so you can quickly make decisions.

Join Waitlist

STARTUP TO SCALE PODCAST

139. Recipe Scaling Webinar: Expert Insights on Product Development

In our recent webinar with JPG Resources, we delved into the fascinating journey of product development, where we explored the process of transforming your cherished recipe formulations from the cozy confines of your kitchen and benchtop to a grand production scale. We dived deep into key topics, including:

• the critical aspects of shelf stability

• crucial task of selecting the right manufacturer

• invaluable insights on approaching manufacturers such as ingredient quality, process adaptation, simplicity, focus, and cost management

Listen on Apple Podcasts or Spotify

DISCOUNTS

No Revisions offers marketing services for startups at prices anyone can afford. Save 20% off with code FOODBEVY.

Stripe is now providing $70,000 in fee-free processing for new and EXISTING customers. Save over $2000

NielsenIQ Byzzer platform provides data for emerging CPG brands. You can access 3 free reports using this link.

Mindful Goods is an awesome Amazon expert that can quickly get you started or optimize your pages for strong ROI. Get 10% of their services  use code FOODBEVY.

Maverick allows you to create individually personalized videos (with a customer's name) welcoming them to your community. 

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