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Halloween meets GLP-1s: Hershey’s candy Super Bowl, with CEO Kirk Tanner

Masters of Scale

Hosted by Bob Safian

27m
Transcript

Original podcast

Summary

Written by a model from the transcript; not yet reviewed.

This episode of Masters of Scale features Bob Safian interviewing Kirk Tanner, CEO of the Hershey Company, about managing a legacy brand through modern challenges like cocoa inflation, changing consumer habits, and GLP-1 weight-loss drugs. Tanner explains how Hershey prepares for Halloween, known as the candy Super Bowl, and discusses the integration of AI tools within their sales force to drive efficiency. The conversation also covers the company's unique ownership structure under a charitable trust, the launch of permissible snacking portfolios like Skinny Pop and Dots Pretzels, and the importance of maintaining cultural relevance to ensure longevity across generations.

  • Maintain cultural relevance to ensure legacy brands continue to resonate with modern consumers. 11:15
  • Utilize AI tools to direct sales forces toward the highest-opportunity retail locations daily. 0:54
  • Focus on portion control options to accommodate health-conscious trends and GLP-1 users. 16:12

Chapters

  1. 0:01
    LinkedIn Ads and Marketing Spend

    The episode opens with a brief ad pitch for LinkedIn Ads, highlighting ROI and targeting capabilities.

  2. 0:54
    AI and One Hershey Integration

    Tanner describes how AI tools and the One Hershey framework streamline sales, data, and customer engagement.

  3. 2:07
    Rapid Response Intro and Travel ROI

    Bob Safian introduces Rapid Response and discusses the value of business travel, especially for remote teams.

  4. 4:11
    Kirk Tanner Introduction

    Bob welcomes Hershey CEO Kirk Tanner, setting the stage for a discussion on Halloween candy and GLP‑1s.

  5. 5:38
    Halloween as the Candy Super Bowl

    Tanner explains how Halloween drives sales and the importance of early season planning and consumer insights.

  6. 9:54
    Innovation and Product Pipeline

    Tanner highlights recent product launches like Reese’s Oreo and Hershey Creme Bars, emphasizing innovation for growth.

  7. 11:44
    Cultural Relevance and the Hershey Story

    Tanner discusses the company’s heritage, the upcoming Milton Hershey film, and the need to stay culturally relevant.

  8. 21:36
    Shareholder Structure and Long‑Term Vision

    Tanner explains Hershey’s unique trust‑based ownership and how it shapes strategic decisions and performance.

  9. 28:33
    Closing Reflections and Takeaways

    Bob and Kirk recap key themes: relevance, speed, customer focus, and the ongoing need to adapt.

Highlights

  • 0:54

    AI in Retail Salesstrategy

    The guest explains how AI tools direct sales teams to specific retail locations and actionable in-store steps.

  • 2:27

    Business Travel ROIdata

    A guest shares that for every dollar spent on travel in the SMB space, there is twelve dollars in associated revenue.

  • 5:44

    The Candy Super Bowlinsight

    The guest discusses Halloween as Hershey's primary sales season and market share driver.

  • 15:44

    GLP-1 User Resilienceinsight

    The guest notes that the candy category has remained resilient among GLP-1 users who prefer portion control over complete avoidance.

  • 16:55

    Premium Category Growthdata

    The guest points out that while the premium segment is small, it is growing three times faster than the rest of the category.

  • 22:44

    Partnership with Trustinsight

    The guest describes having a charitable trust as the majority shareholder as an advantage that avoids activist pressure.

  • 25:02

    Implementing One Hersheystrategy

    The guest explains the consolidation of disparate business units into a unified approach for major retail partners.

Quotes

  • “The second you're not culturally relevant with your brands like Hershey, then you should be worried.”
    Unnamed speaker · 0:50
  • “We have market share leadership, and we are always hungry for more. We go to school on what happened last year, what's happening in this year, what consumers are looking for.”
    Unnamed speaker · 5:51
  • “The Hershey Creme Bars, Cadbury as well, our Brookside business. Again, premium is relatively small in the scale of things, but it's important for the growth.”
    Unnamed speaker · 17:09
  • “You have a real down to earth, heart to heart conversation about choices consumers make.”
    Unnamed speaker · 17:30
  • LinkedIn 0:21–0:39
  • Engine 2:07–2:14
  • Deal 19:30–19:49
  • Creative Planning 20:54–21:12
  • Intuit 29:33–29:45
  • Rapid Response 30:00–31:05

About this episode

The second a brand like Hershey stops being culturally relevant, says its CEO Kirk Tanner, you should be worried. He joins Rapid Response to explain exactly what he's doing to make sure that never happens. Tanner also reveals why GLP-1 users are actually good for the candy business, how AI is now routing Hershey's sales force in real time through Target and Walmart, and why the Reese's Oreo collaboration (which generated $100 million in its first five months) is the model for how iconic brands find new energy. And with a major Hollywood film about Milton Hershey coming this fall, he talks about whether this is Hershey's Barbie moment. Visit the Rapid Response website here: https://www.rapidresponseshow.com/ See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

0:00
27:11

4,908 words · 8 speakers

Speaker names marked are inferred from speaking time and the show’s known hosts — they are not voice-verified.

Topics

  • Reese's
  • Hershey Company
  • PepsiCo
  • Lesser Evil
  • Milton Hershey School
  • GLP-1s
  • Skinny Pop
  • Cadbury
  • Brookside

Page updated · transcript and summary are machine-generated