In line with other major CPG manufacturers, J.M. Smucker has benefited from the surge in consumer demand for packaged food following the outbreak of Covid-19.
On Thursday, the company behind Folgers coffee and Jif peanut butter reported that net sales climbed to $2.1 billion for the quarter ending April 30, a 10% increase compared to the same period last year. Smucker’s U.S. retail coffee segment grew 11% to $581.6 million, while its consumer foods division increased 22% to $480.5 million.
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Discussion Questions:
- What is brand loyalty?
- Why is brand loyalty important?
- How do you think J.M. Smucker’s attracted so many new customers?
- How do you think they can now begin to build brand loyalty with the new customers?