In several sectors, the epidemic has slowed supply chains, but Campbell’s CEO insists the company’s products will be completely available this holiday season.
“The amazing work of our teams on the front lines and plants, logistics and sales teams,” Mark Clouse, CEO of Campbell’s Soup Company, told “Good Morning America” a week before Thanksgiving that the company’s efforts are the result of “the amazing work of our teams on the front lines and plants, logistics and sales teams.”
“You’ll have all of your seasonal favourites ready to go on the shelves. They’ve worked hard to achieve it, and while I would advise planning ahead of time, I believe we’re in good shape heading into the holidays “he stated
Consumers’ concerns about availability aren’t the only ones; paying more at the register is also a growing issue across the country.
After a full year of the epidemic, the U.S. Department of Agriculture’s Economic Research Service anticipated that the cost of food in grocery shops will jump 1-2 percent this year. The food-at-home index gained 1% over the month, according to the latest Consumer Price Index Summary from the Bureau of Labor Statistics, as all six major grocery store food category indexes continued to rise.
The United States Department of Agriculture defines “food-at-home” as grocery shop or supermarket purchases.
“Over the previous six months, we’ve also witnessed a tremendous amount of inflation,” Clouse added. “To keep prices low, we employ every instrument at our disposal. We understand how vital it is, particularly during this time of year and during holiday celebrations, so we’ve worked hard to maintain the rates as low as possible, but there has been a price increase.”
The index for other food at home — not including meat, poultry fish or eggs — “rose 1.2% over the month, its largest monthly increase since April 2020, near the onset of the pandemic,” the BLS report stated. “Cereals and bakery products rose 1% in October following a 1.1% increase the prior month. The index for nonalcoholic beverages rose 0.8 percent in October, the index for dairy and related products rose 0.2%, and the index for fruits and vegetables advanced 0.1%.”
“I would expect inflation to continue as we move forward into ’22,” Clouse stated, “but count on us to do everything we can to make costs reasonable and accessible, especially during the holiday season.”
Clouse said Campbell’s has depended on “a combination of bringing in a lot of new personnel into our facilities as well as the teams working extremely well” to help offset higher production costs that may be passed on to consumers.
“I would expect continuous progress as we get into ’22,” he added, “and we’re expecting to be fully back in supply on most of our items as we get into the new year.”
Clouse predicted that people will flock to the store in the days leading up to Thanksgiving “I wish everyone a lovely and happy Thanksgiving. Acquire online, get your recipes, figure out what items you’ll need for your dishes, then head to the shop early to get everything ready to go.”