How Ocean Spray makes use of its cranberries to advertise wellbeing
Ocean Spray's cranberries are now used more than just for juice and the jellied cranberry sauce to accompany the Thanksgiving turkey.
The company, led by CEO Tom Hayes, is now turning to wellness and functional beverages to expand its innovation.
"Any brand marketer will know that Ocean Spray's tremendous brand awareness benefit, 99% brand awareness, is just the beginning," Hayes said in an interview with CNBC's Tyler Mathison at CNBC Evolve Summit Tuesday. "You have to keep the brand relevant."
Concerns about sugar consumption have caused the entire juice category to decline in recent years. Instead, consumers have drank water, kombucha, and other beverages that promise health benefits.
For example, Ocean Spray began testing CarryOn in Colorado in June. The line of CBD sparkling water was developed by the company's innovation incubator called Lighthouse. Another line of mixed herbal beverages produced under the new Atoka brand was also the idea of the incubator.
"What we've done at Ocean Spray is transforming the company from cranberry-focused to health and wellness consumers," said Hayes, who was Tyson Foods' managing director until 2018.
Hayes acknowledged that not every new product will be a huge hit for the farmer-owned cooperative.
"But they bring new life to the category. We need to move from a traditional and well-understood brand to an exciting brand with a portfolio that consumers want to interact with," he said.
The pandemic has changed the way people create and consume content and access entertainment. But are these changes permanent? Take part in the CNBC Evolve livestream on December 3rd for a conversation about changing consumer trends and how far media companies should go to change their strategies to reach their customers and meet their needs.