Formed in 1869, Campbell Soup Company is now in its third century, and the iconic brand is embracing technology to make sure it survives to see a fourth.
Thanks to a growing product portfolio, and the use of AI to spot new trends, Campbell is evolving beyond its soupy roots, per Food Dive.
Known best for its iconic can…
… recent acquisitions have pushed Campbell’s product assortment into new categories:
- In 2017, the company acquired Pacific Foods, which makes organic soups, broths, and milks.
- In 2018, Campbell bought snack behemoth Snyder’s-Lance, which owns Late July, Pop Secret, and several other brands.
With the Snyder’s-Lance acquisition, ~50% of Cambell’s sales now come from snacks.
To identify new food trends…
… the company uses a process called “Insights Engine,” which uses AI to review 300B menus, studies, and other data points per year.
Campbell’s employees use the data to understand where a trend is going, whether it will last, and if one of its brands is in position to capitalize on it. Recent innovations include:
- Oat milk-based soups, which the company rolled out in 2021 through Pacific Foods.
- FlavorUp, a cooking concentrate that comes in three flavors and enhances the flavor of food.
And these products are impacting the bottom line — innovation products currently account for 2% of net sales, and the company hopes to reach 3.5% by 2025.
If Campbell runs out of inspiration, they can always pull from centuries past, like this 1933 advertisement featuring asparagus soup.
