Nestlé Falls Behind As Millennials Warm Up To Frozen Meals
At Nestlé's $50 million research centre outside Cleveland, food technicians and packaging experts set out three years ago to remake its frozen food lineup and appeal more to busy, health-conscious adults in their 20s and 30s.
Nestlé may have gotten the menu right, but its timing was off. When young consumers came back to the frozen food aisle last year, the company's supply chain wasn't ready. The result: It lost market share to rivals.
Jeff Hamilton, who heads Nestlé's U.S. food business, said in an interview the company did not have the manufacturing capacity ready to meet extra demand for its Stouffer's Fit Kitchen and Lean Cuisine meals. He described it as "sudden, significant and beyond our expectations."
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