Some Utz Brands buyers are opting for snacks with healthier ingredients such as the avocado oil used to cook the Boulder Canyon potato chips, Utz Brands CEO Dylan Lissette told CNBC. The snack company has been rebranding and developing the Boulder Canyon chips since it bought its manufacturer Inventure Foods in 2017, said Lissette on CNBC’s Mad Money.
“We’ve got a lot of excitement around those ‘better for you brands’,” Lissette said. Before the coronavirus pandemic, consumers had been buying healthier snacks. A summary report by Health Focus International found people are also willing to pay more for foods and beverages that are both healthy and indulgent.
In the company’s earnings report on Thursday, Utz’s CFO Cary Devore said that the company saw a “significant” increase in new buyers and higher purchase repeat rates over the past year. Utz plans to grow sales and reach new customers in 2021 by increasing its digital advertising spend by 60% and potentially more, Lissette told CNBC.
Food shopping habits changed during the pandemic as people resorted to comfort food and snacks more often, according to Consumer Reports.
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