Someone blindly follows a crowd, even toward a potential bad outcome, just because others are headed that way too. Some examples I see of lemming-like behavior currently in the #emergingcpg brand space. Something I’ve been thinking a lot about this past year and wanted to share. Don’t be a lemming. It’s a metaphor for human behavior.

Interested in what you all are seeing out there too. Best of luck to you all and happy new year. Things can change, of course, but right now things look very strong out there on demand side. But investor sentiment to me seems to be improving somewhat. Brutal financing market remains and a lot of pain ahead there as company runways run short or out. Retailer interest in innovation remains really strong, too, hearing that from many peer companies. Unit trends remain very soft out there across CPG, and a lot of pricing will lap by mid-year, which will put pressure on retailers to find real growth. Job market strong, unemployment low, inflation coming down, fed looking to ease, all good signs as well. Through the 3rd Q this year Disney and Universal numbers were very solid, both up 17%. My favorite marker historically is strength of theme park attendance and correlation to premium CPG trends looking forward. IMO, the outlook for premium CPG #emergingbrands demand environment looks really strong going into '24.

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