the Joshua Schall Audio Experience

Hershey just threw in the towel. By next year, they’re changing their recipes back to REAL chocolate. But why did they swap it out in the first place? The default blame was a global cocoa crisis…with extreme weather ruining harvests and driving prices to historic levels. Hershey’s profits tanked…and to save cash, the company quietly replaced expensive cocoa butter with cheap vegetable oil in seasonal and mini treats. Many consumers started criticizing Hershey’s online, but that mostly went unnoticed until the grandson of Reese’s founder got involved. In a viral LinkedIn post, Brad Reese accused Hershey’s of destroying his family’s legacy by noting “you don't optimize your way into greatness by diluting the very thing customers trust you for.” And while Hershey’s CEO said the decision to switch back stems from an internal portfolio review rather than external pressure…this dispute perfectly highlights ongoing industrywide tensions between CPG brand legacy, product innovation, and consumer expectations.

For years, consumer survey data has consistently signaled consumers want more product innovation at the intersection of savory, high-protein, and convenience. So then, why do savory protein bars always fail? While each brand mixed different tasty combinations of animal proteins, herbs, and spices together…they all overlooked packaging psychology. Essentially, when a savory snack is packaged in a candy bar shape, it triggers cross-modal correspondences, a psychological phenomenon where visual cues (like shape and design) automatically set unconscious expectations for taste and flavor. But now startup brands like Takeaways are utilizing those consumer insights…ditching the “brick shape” of traditional protein bars for a longer and thinner form factor (resembling cheese or beef sticks). And while I haven’t tried these cheese-coated protein puffs just yet, I’m rooting for them (and others) to disrupt a market suffering from sweet protein fatigue.

Double, double toil and trouble; Flagship drops, while witches bubble! Celsius Holdings (NASDAQ: CELH) had quarterly revenue of $847.2 million, which was up 17% YoY (boosted slightly by non-comparable Rockstar Energy acquisition-related financial impact). CELSIUS had revenue of $357 million, which was down 6% YoY. Alani Nu had revenue of $410 million, which was up 24% YoY. And then lastly, Rockstar Energy had revenue of $80.3 million. According to recent 13-week retail sales data, CELSIUS decreased by 7% YoY...dropping to the fourth-largest energy drink brand in the category with a dollar share of 9.1%. Alani Nu increased retail sales 57.9% YoY and is now the third-largest brand in the U.S. energy drinks market with dollar share of 9.8%. And Rockstar Energy retail sales decreased 13% YoY and is still a Top-10 largest U.S. energy drink with dollar share of 1.8%. If we look at Celsius Holdings combined brand portfolio, it reached 20.7% of dollar share...ranking it third and trailing only Red Bull and the combined Monster Beverage portfolio. Additionally, while Celsius Holdings has a little over double the dollar share of the combined Keurig Dr Pepper (controlled) brand portfolio of GHOST, C4, and Bloom…that lead is shrinking relatively quickly due to GHOST Energy accelerating and the extreme hypergrowth of Bloom. Things drastically shifted for CELSIUS because of the August 2022 distribution and investment deal with PepsiCo. Additionally, when Celsius Holdings took ownership of the Rockstar Energy brand last year, it designated them the PepsiCo strategic energy drink captain. Also, another major aspect of “Celsius Holdings and PepsiCo strengthening its long-term strategic partnership” was the transition of Alani Nu distribution into the PepsiCo DSD system starting December 2025. So then, in my latest first principles thinking content piece, I'll explore several key factors surrounding why the next 12-18 months will define the future of the Celsius Holdings brand portfolio.

Is the record-breaking surge in whey protein pricing finally hitting a consumer breaking point or are we on the verge of a market reset?In this strategic breakdown, I'll double-click on Glanbia's newly released Q3 2026 interim management statement to analyze the financial performance of its supply-side operating models and branded portfolio. While Glanbia Performance Nutrition (GPN) posted a strong 8.5% YoY revenue increase, a closer look at its crown jewel, Optimum Nutrition, reveals a striking story of current market dynamics: a massive 26.1% increase in quarterly pricing masking a modest 0.8% increase in volume.I'm pulling back the curtain on the "B2B hysteria" driving extreme commodity inflation for high-end whey like WPC80, examine the rising price elasticity across specific sales channels, and discuss why weaker market competitors are closer to their breaking point than ever before. Finally, we unpack Glanbia's future risk mitigation playbook with Optimum Nutrition...spanning promotional efficiency, price-pack architecture, and a critical diversification strategy into non-whey innovations like creatine.Key Topics Covered:

• Glanbia Q3 2026 Performance = Group revenues, pricing actions, and structural segment breakdown.
• Optimum Nutrition Growth Engine = Digging into the TTM $1.5 billion brand and U.S. tracked channel consumption data.
• Whey Inflation & B2B Hysteria = The underlying emotional trading and supply constraints driving WPC80 and WP190 pricing.
• Price Elasticity & Red Flags = Why further price increases in the first half of 2027 could trigger a consumer breaking point.
• Optimum Nutrition Strategic Risk Mitigation Playbook: Moving from manufacturing to buying high-end whey, maximizing price-pack architectures, and expanding non-whey innovation.

Wall Street panicked when Keurig Dr Pepper (KDP) dropped its Q3 2026 earnings, causing the stock to initially slide. While legacy finance analysts are hyper-focusing on slashes to EPS growth targets and structural decay in the premium coffee pod segment, they are completely missing the real story. KDP has spent the last few years executing a quiet, highly calculated "hostile takeover" of the functional beverage and active nutrition markets.

In this episode, I'm breaking down the explosive data behind KDP’s rapidly evolving, high-velocity functional beverage monster:

• GHOST Energy has officially joined Dr Pepper in KDP’s exclusive billion-dollar brand club, holding rare air with sustained 50% YoY retail growth from a massive baseline.
• How KDP scaled its energy drink footprint from less than 1% to over 10% of a $30 billion category...and why Bloom Energy is on track to surpass C4 any day now.
• How Electrolit (+40% growth) and Vita Coco (+34% surge) allowed KDP to construct a margin-resilient moat that completely sidesteps traditional sports drink price wars.
• KDP is finally taking the fight to Coca-Cola's fairlife protein RTD dominance by weaponizing legacy platform IP through the new GHOST x Yoo-hoo protein shakes and expanded distribution partnerships.

Whether you view KDP as a legacy coffee and soda business or an elite functional CPG portfolio allocator, this Q3 2026 breakdown alters the entire valuation thesis of the upcoming corporate separation.

Simply Good Foods Company (NASDAQ: SMPL) recently released its fiscal Q4 and full-year 2026 financial results. The numbers reveal significant headwinds across the entire portfolio, including Atkins, OWYN, and Quest Nutrition. In this comprehensive analysis, I'll decode the consolidated performance (noting a 9.7% YoY drop in Q4 net sales to $333.3 million) and dive deep into the brand-level metrics driving the current turnaround strategy.

Key Topics Covered:

• Consolidated Financial Picture = Breaking down the 6.5% decline in full-year net sales ($1.37 billion) and the broader retail takeaway pressure across U.S. channels.
• GLP-1 Era Atkins Revitalization = How the "Age of Ozempic" has permanently disrupted traditional dieting brands, and an evaluation of the new "Atkins Is Metabolism Changing Nutrition" campaign.
• OWYN Slow and Steady Rebuild = Understanding the compounding impact of recent product quality issues during distribution expansion, and the pivot back to basics with "Every Ingredient Earns Its Place".
• Quest Nutrition Historic Decline = Analyzing the shift where salty snacks grew 13% but bars dropped 6%. We discuss why Quest is no longer just a protein bar company and how "Doritos Protein" threatens its long-term competitive moat.
• Macro Headwinds & Strategic Price Increases = Why elevated dairy protein commodity pricing is forcing double-digit strategic price hikes, what that means for volume elasticity, and how it impacts the first half of the next fiscal year.

Whether you're a consumer packaged goods (CPG) brand founder, investor, or industry strategist consultant, this breakdown offers critical insights into the evolving landscape of convenient nutrition, mainstreaming protein snacking, and defensive brand positioning against Big CPG.

What if I told you a brand-new report just revealed 76% of people are now combining fresh and frozen ingredients in the exact same meal. Is the fact that it’s no longer an “either-or” choice shocking to anyone? Now, maybe it’s because my culinary skills are (at best) laughable but I thought everyone was mixing up a fresh salad kit to accompany their frozen Detroit style pizza! But maybe what’s surprising is how most people are using frozen items to slash food waste and stop throwing money away. Additionally, 96% believe the freezer aisle is now packed with better-for-you options. Frozen food is no longer just a backup plan…making mealtime cheaper, faster, and smarter. So, do you mix fresh and frozen when you cook?

Stop buying into the hype. Food marketing is moving faster than ever, and too many CPG brands are using "half-truth" stories to sell products (betting that you won't look deeper). Don't be a pawn in today's hyper-frenetic market. It’s time to turn the box over. Read the ingredients, ignore the buzzwords, and demand genuine value instead of a flashy label. For the CPG brand founders watching...in an industry filled with hyperbole, authenticity is the only trend that lasts. Choosing short-term virality over radical transparency puts your brand at risk for permanent reputation damage. Consumers are always watching, and they deserve transparency (not trends that obscure the truth).

Is faith the ultimate economic asset in a world dominated by secular brands? For decades, we’ve watched corporations adopt the tribalism, loyalty, and passion of traditional religious devotion. But we are currently witnessing a massive strategic inversion: traditional religion is adapting to the contemporary language of consumer packaged goods (CPG) to fight back.

In this episode, I'll dive deep into the sudden, explosive rise of faith-forward energy drinks and the unique consumer behaviors driving this niche market. Using my strategic forecasting matrix built on three core pillars (Cultural Forces, Contextual Demand Spaces, and Game Theory), I'm breaking down how these startups are rewriting the rules of brand loyalty.

We also explore the fascinating parallels in beverage subcultures, including how the LDS Church’s strict dietary parameters birthed the trending "Dirty Soda" phenomenon and why Monster Energy sponsoring BYU is an absolute masterclass in asymmetrical game theory.

Can a faith-forward energy drink brand break through the "Identity Trap" into mass-market retail, or will the monetization of an "evangelism tax" keep them permanently confined to a profitable subcultural niche? Let’s look past the labels and analyze the business strategy behind the movement.

I love the United States of America, but can we agree that all these CPG brands panicked leading up to our country's 250th anniversary? The result? While many slapped the American flag (or America 250 logo) on their product, others swam in a sea of identical red, white, and blue. Newsflash: 'America' isn’t a monolith. In fact, patriotism means completely different things to different demographics. Anheuser-Busch owns industrial Rust Belt grit. Tillamook owns Pacific Northwest agricultural heritage. Both are American. Neither looks identical. Therefore, to effectively unlock the “America branding strategy,” stop aiming for everyone. Pick a specific cultural thread. Highlight local subcultures. If your CPG brand can’t explain which specific piece of the American story you’re honoring, and why you earned it…then drop the clip-art flags and anniversary logo. Stop blending in before your brand equity is dead.