Aaron Back
speaker
67 appearances
1 recordings
1 series
first heard Aug 2025
last heard Aug 2025
Aaron Back’s voice in public audio — every appearance, attributed to the second.
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In the most recent quarter, meals and beverages, so basically groceries, soups, sauces, was up 6% in terms of sales.
Snacks was down 5%.
And there's a big debate as to what's driving this.
Some people say it's because consumers feel tight and so snacks are less essential than meals.
So if you have to cut back somewhere, you're more likely to cut back in snacks.
The problem with that is historically that hasn't necessarily been the case.
Like this time is different.
So what explains this?
It's not entirely clear.
But one definite possibility is GLP drugs.
And this is something the industry doesn't like talking about.
But we all know that weight loss drugs are taking off.
And there have been studies that show that one of the first things that you cut back on when you're on GLP drugs is things like sweet cakes and snacks and things like that.
Whatever it is, the trend is very clear that snack sales are really suffering all of a sudden.
Yeah, it's interesting because if you go back pre-pandemic, I started writing about this industry around 2018, if memory serves.
And in that period, the focus was all on health and wellness in the industry.
And this set off a scramble among brands.
They made a lot of acquisitions to try to get ahead of this trend and get into categories where they thought young consumers were going.
That was the storyline pre-pandemic.
During the pandemic, that all got sidelined because people just had to eat and people were stuck at home and people weren't that fussed about what they were eating.
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