Welcome to The Week in Consumer Packaged Goods, a weekly roundup for marketers from Quad Insights that covers the latest must-know news surrounding the CPG space.
Tums, DraftKings partner for food-focused Super Bowl contest
Tums has partnered with sports-betting platform DraftKings to host a Super Bowl contest in which fans can bet on the most popular game-day foods, Brand Innovators’ Aaron Baar reports. Called “Tums Prop Bites” — a play on the phrase “prop bets” — the game allows participants to bet on things such as what the spiciest snack is and how many pizzas will be delivered by halftime. Running through Feb. 11 (the day Super Bowl LVIII will be played in Las Vegas), the contest gives winners the chance to win a share of a $10,000 prize pool. Tums and DraftKings are promoting the contest with comedian Desus Nice, who serves as the “Prop Bites Tipster” in a series of digital and social videos, and a “Prop Bites Food Casino” event at Circa Las Vegas’ Stadium Swim over Super Bowl weekend.
The takeaway: Tums knows that millions of viewers are probably going to eat (way) too much while plopped on the couch on Super Bowl Sunday; it’s basically gamifying the conversation around game day overindulgence to remain top-of-mind with consumers.
AB InBev announces partnership with the Olympics through 2028
Anheuser-Busch InBev just announced that it has become a worldwide Olympic partner — an arrangement that runs through 2028 — with Corona Cero zero-alcohol beer becoming the global beer sponsor of the Olympic Games. AB InBev also separately announced an expansion of the partnership to include Michelob Ultra as the exclusive beer partner of Team USA for the Olympic and Paralympic Games in Paris in 2024, Milan in 2026 and Los Angeles in 2028. The brand will serve as the official beer sponsor of the 2028 U.S. games.
The move marks the first time AB InBev will return to the Olympics since 2016, when Budweiser withdrew its 32-year sponsorship, and the first time the Olympic & Paralympic Committee has had a beer sponsor since that time, Ad Age’s Jon Springer reports.
The takeaway: The hot non-alcoholic adult beverage trend is about to get a lot hotter, thanks to Corona Cero’s Olympic-level marketing boost.
CPG digital ad spend expected to surge to nearly $49 billion in 2024
CPG digital ad spending is set to reach $48.79 billion in 2024, marking the biggest rise in three years and making the category second only to retail (at $88.13 billion), according to just-released projections from Insider Intelligence / eMarketer. Search and social ads are playing a large role in this shift, with the latter experiencing 15.1% year-over-year growth in 2023 and representing 31.2% of CPG’s total digital ad budget. In 2024, social ad spending is projected to hit $13.2 billion.
The takeaway: The increasing investment in digital advertising by CPG brands reflects a focus on more targeted, measurable marketing strategies as they seek to connect directly with consumers, Insider Intelligence’s Jeremy Goldman writes. “As consumer behaviors evolve,” he notes, “CPG brands are looking to remain relevant and effective in their advertising efforts.”
BodyArmor releases new sugar-free sports drink with no artificial ingredients
The Coca-Cola Company this week announced the release of BodyArmor Zero Sugar in a move aimed at taking on top-selling sports drink brand PepsiCo’s Gatorade, per CNN Business’ Jordan Valinsky — who notes that BodyArmor Zero Sugar is also free of artificial sweeteners, flavors and dyes. BodyArmor Zero Sugar will be available at retailers beginning this month, in three sizes and four flavors: fruit punch, lemon lime, orange and cherry lime.
The takeaway: BodyArmor is seizing on growing consumer interest in low- and no-sugar beverage options, while gaining a marketing edge with its artificial ingredient-free formulation.
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If you’d like to catch up on prior installments of this column, start by heading to our last recap: “The Week in Consumer Packaged Goods: January 12, 2024 edition”