Smucker CEO Says Rising Inflation Is Part of Their Business

The video discusses the impact of commodity pricing and inflation on business, highlighting the importance of working with retail customers to manage price increases. It explores the transition back to normal economic operations post-pandemic, noting changes in consumer behavior as people continue to work from home. The company has adapted its strategy to strengthen its position, focusing on agility and consumer engagement. The ongoing work-from-home trend is expected to sustain demand for home meals, supporting business growth.

How does the company typically handle pricing for its commodity-based products?

• They pass along price increases to consumers.

• They stop production until prices stabilize.

• They reduce product quality to cut costs.

• They absorb all costs to keep prices stable.

What change in consumer behavior was observed during the pandemic?

• Increased dining out.

• Less interest in home-cooked meals.

• A shift to luxury goods.

• More home consumption of food.

What is one of the company's strategies to emerge stronger from the pandemic?

• Discontinuing less popular products.

• Reducing workforce to cut costs.

• Expanding into new markets.

• Strengthening the company's focus and agility.

How is the work-from-home trend expected to affect the company's business?

• It will have no impact on the business.

• It will increase demand for breakfast and lunch products consumed at home.

• It will lead to a decline in overall sales.

• It will decrease demand for all products.

What is the company's approach to maintaining momentum post-pandemic?

• Relying on government support.

• Ignoring market changes and sticking to old strategies.

• Focusing solely on cost-cutting measures.

• Engaging with consumers and adapting to new market dynamics.