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In this episode of The Speed of Culture podcast, Suzy founder and host Matt Britton interviews Dan Mohnshine, vp of U.S. marketing for confection at The Hershey Company.
Mohnshine discusses the evolving consumer trends influencing Hershey’s strategies, the importance of innovation—like the launch of Reese’s Caramel Big Cup—and how Hershey’s is embracing health and wellness for the total snacking experience.
The Hershey Company, an undisputed leader in the confection industry, continues to innovate and adapt in a rapidly changing market. Known for iconic brands like Reese’s, Twizzler, Jolly Rancher and Kit Kat, the company is not just about chocolate but the total snacking experience. With a focus on consumer trends, digital transformation, and health-conscious products, Hershey’s is setting new standards in the industry.
Mohnshine is a seasoned marketing leader with extensive expertise in consumer products, brand strategy, and multibillion-dollar P&L management. Before joining The Hershey Company, Mohnshine honed his skills at Kraft Foods.
“Understanding different parts of the value chain is so critical,” he says on the podcast. “You start with the consumer, but then you back up to what needs to be true to win their purchase, to win market share, and to be profitable at the same time.”
Listen to Mohnshine on the Speed of Culture podcast and gain insights into the future of consumer trends and innovation in the confectionery industry.
Key takeaways:
01:35-02:42 Top Consumer Trends — There are three key trends driving the confectionery industry: value, innovation, and health and wellness. With the recent high inflation period, consumers define value differently—some prioritize convenience, others price points. Post-Covid, there has been a significant return to innovation. Lastly, health and wellness trends focus on removing unwanted ingredients like sugar. Understanding these diverse consumer needs to deliver value effectively is crucial.
04:25-05:13 Embracing Convenience and Quick Commerce — With DoorDash experiencing significant growth, convenience remains paramount, particularly for higher socio-economic consumers. At the other end of the spectrum, consumers are looking for a specific price point. For The Hershey Company, this translates to seamlessly integrating products like Reese’s King Size Cups into delivery orders. This strategy highlights the importance of utilizing quick commerce platforms to drive impulse purchases and fulfill consumers’ demands for convenience and accessibility.
05:13-06:11 Innovative Product Launches — For Reese’s Caramel Big Cup, Hershey’s added a layer of caramel to the classic peanut butter and chocolate combination to create a new textural experience. This innovation reflects broader trends of flavor and texture innovations infiltrating the U.S. market. For instance, influences from international flavors, such as creamier or spicier varieties, are being incorporated to meet evolving consumer preferences.
11:44-13:06 Focus on Health and Wellness — Hershey’s has seen significant success with their zero sugar and plant-based lines in response to the growing demand for health-conscious products. The zero sugar platform, led by Reese’s, is a hit among consumers looking to reduce sugar intake. Plant-based products are also a success, tailored for vegan consumers and those with dairy allergies. By offering diverse options such as portion-controlled Reese’s Thins, zero sugar, and plant-based products, Hershey’s effectively meets the wide-ranging health and wellness preferences of today’s consumers.