Conagra Manufacturers (NYSE:CAG) could possibly be utilizing the facility of Dogecoin (CRYPTO: DOGE) to assist develop the social media following for its Slim Jim model of meat snacks.
Slim Jim and Doge: Dogecoin was mentioned on the corporate’s most up-to-date earnings name. Slim Jim constructed its on-line neighborhood on memes, and that makes Doge and Dogecoin a “pure match for our model,” CEO Sean Connolly stated within the firm’s most up-to-date earnings call.
“We’ve seen a market uptick in viewers interplay, together with direct engagement and advocacy from the person who created Dogecoin as you’ll be able to see on this slide,” Connolly stated, including that the corporate even noticed direct engagement from the person who created Dogecoin.
Using Dogecoin memes has elevated model consciousness for Slim Jim. The corporate has primarily used Twitter (NYSE:TWTR) as its place to make use of Doge memes. The corporate’s Instagram account has 1.3 million followers and has been energetic in utilizing different fashionable memes exterior of the cryptocurrency world.
Twitter followers are up 160% for Slim Jim, in response to the corporate’s third quarter presentation. In a 25-day interval, the corporate noticed 35 million natural Twitter impressions, which is excessive for an account with 75,000 followers.
Slim Jim was topped the champion of the Adweek March Adness Bracket event that includes 64 manufacturers. It beat Doritos, Pepsi, Amazon, Wendy’s, M&M and Oreo in head-to-head match-ups.
Associated Hyperlink: If You Invested $1,000 in Dogecoin On Jan 1, 2021, Here’s How Much You’d Have Now
Why It’s Necessary: Conagra Manufacturers has a big portfolio of well-known meals manufacturers like Duncan Hines, Wholesome Selection, Hunt’s, Reddi-wip, Vlasic, Fowl’s Eye, Orville Redenbacher’s, PAM and Udi’s Gluten Free.
Third quarter gross sales for the corporate were up 8.5% year-over-year, coming in above firm steering. The corporate noticed sturdy efficiency in its grocery and snacks enterprise, which was up 10.8% year-over-year and comprises the Slim Jim model.
A number of manufacturers within the Conagra Manufacturers portfolio noticed sturdy market share features and family penetration within the third quarter. Gross sales of Slim Jim have been up 29.4% year-over-year within the third quarter, which was the second greatest acquire of the corporate’s snack manufacturers.
“We stay assured that every of our retail domains — frozen, snacks and staples — is well-positioned to maintain the advantages of the eat-at-home habits customers have developed in the course of the COVID-19 pandemic,” Conagra Manufacturers CEO Sean Connolly stated.
Some Slim Jim merchandise is offered out. The large query could possibly be whether or not Slim Jim will use Dogecoin in full scale advertising and marketing campaigns and on packaging and merchandise.
Benzinga reached out to Conagra Manufacturers for remark however didn’t hear again.
Picture courtesy Slim Jim Twitter account.
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