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Restraint is the new consumer mantra 24 Jun 2009
Restraint is the new consumer mantra even as the worst of the recession seems to be over, according to Nielsen CEO David L. Calhoun, one of several speakers at the World Food Summit held in New York.
Noting the growth of private label or store brands, Calhoun observed that retailer brands would continue to gain at the expense of secondary and smaller brands. “US retailers are still in catch-up mode toward world-class brand strength,” said Calhoun, who added that retailers’ move into store brands is “not a zero-sum game. It’s a partnership to fulfill consumer needs.”
Speaking during a panel discussion, Gregory R. Page, chairman and CEO of Cargill, and Brenda Barnes, chairman and CEO, Sara Lee Corp., and Irene Rosenfeld, chairman and CEO, Kraft Foods, pledged their support for the Global Food Safety Initiative (GFSI). Page criticized the proliferation of proprietary standards and schemes. “GFSI is the simplest way to eliminate the unnecessary uniqueness [of schemes] that do not do anything except complicate and add cost.” Harmonization of standards is needed to strip cost from the supply chain and free resources for prevention and remediation, the panel agreed.
Agility and an end to inertia in combating food waste were urged by William V. Hickey, president and CEO of Sealed Air Corp. “Food has never been more in abundance. But if there is enough food, why do one in seven people go hungry? I believe we can feed all of the world’s hungry people without cutting down another rainforest. The issue is not how much food we produce, but how much we waste.”
Agility and an end to inertia in combating food waste were urged by William V. Hickey, president and CEO of Sealed Air Corp. “Food has never been more in abundance. But if there is enough food, why do one in seven people go hungry? I believe we can feed all of the world’s hungry people without cutting down another rainforest. The issue is not how much food we produce, but how much we waste.”
Industry analysts say 40 percent of food produced globally is never eaten. Food is wasted at each stage in the supply chain - either damaged during production; or oversupplied, spoiled or poorly stored at the retailer; or not eaten in time by the consumer, sometimes due to excessive portion sizes, sometimes through poor storage.
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