The future is only delayed, not cancelled

A recession, or even a slow-down, is not a reason to rely on “old” products which are now simply outdated. Now of all times, “health” and “good for you” has a real resonance.
Now might be the time to get out of “traditional” recipes and bring in “old favorites” with updated profiles, responding to current consumer concerns as well as their need for “comfort food.”
The behavioral impact of a large population being under lockdown for so long is not known, because it has not happened like this before (certainly in modern times). When free movement is restored, some people may wish to do everything exactly as they did before, but some may see this as a real “new beginning” where they do things “properly,” including looking after their health and diet.
Social engagement and the feeling of local society may even seem stronger; if you work from home, you find out who your neighbors are. That could have an impact on Environmental, Social, and Governance (ESG), and all forms of “responsibility” in business.
However, until it becomes clear how badly the economy has been affected, the price parameters and the format of new products or reformulations will need to be fine-tuned. Uncertainty brings risk-aversion, so a new product in a new sector and a premium price may be just too much risk to the consumer for the moment.



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