Goldfish intends to rebrand itself to appeal more to adult audience.
The Pepperidge Farm snack brand is temporarily changing its name to "Sea Bass from Chile," promoting a more mature image, as stated by Campbell's Corporation on Wednesday. This move is part of a strategy to attract adults and regain relevance in the snack market, which has seen a decline following a surge in demand brought on by the pandemic.
Regardless of the name change, the recipe and appearance of the Goldfish snack will remain the same. The company explained in a press release that the new name serves to emphasize that Goldfish crackers are not solely for children, pointing out the influence of Gen Z and Millennial trends on platforms like TikTok, such as the popularization of "girl dinners."
Danielle Brown, vice president of Goldfish, told CNN, "We know Goldfish are a staple in lunchboxes, but the truth is, they're loved by snackers of all ages. As a fun reminder, we went ahead and gave our iconic cheddar cracker a grown-up name."
The "Chilean Sea Bass" snacks will only be available for purchase online starting Wednesday and for a single week. Goldfish assures customers that traditional branded bags are still available at retailers nationwide.
The new name is a nod to the brand's origins. Initially introduced in the US in 1962 as an adult bar snack by Pepperidge Farm, Goldfish shifted to catering to children in the 1990s with playful packaging.
This marketing stunt is a straightforward way to remind customers of Goldfish's existence amidst intense competition from new brands, according to Nate Rosen, founder of Express Checkout, a newsletter that tracks trends in consumer packaged goods.
"With so many new brands launching trendy, healthier versions of consumers' favorite childhood snacks, it's a clear indication that they need to be reminded of their classic favorites that inspired these new brands," Rosen told CNN.
Beyond its limits
Goldfish has been broadening its product line beyond its signature crackers in recent years as part of Campbell Company's aim to turn Goldfish into a $1 billion brand not just known for soup.
Last year, Campbell invested $160 million in a Pepperidge Farm factory to increase production of the fish-shaped cracker to meet growing consumer demand. The facility in Utah, set to be completed later this year, will have the capacity to produce over 5 million Goldfish per hour or 1,500 every second.
Goldfish has been leveraging its well-known name to introduce adult-friendly varieties, such as potato chips named Crisps, spicier flavors featuring Old Bay and Frank's RedHot sauce, and a large-sized version called Mega Bites.
This expansion helped boost Campbell's snack sales by 13% last year, even as other legacy food companies are diversifying to capture a larger share of the $200 billion snack market, according to market research firm Circana.
Although snacking has seen a decrease since its pandemic-induced peak, it continues to be popular among budget-conscious adults. "There is a broader consumer behavior around the concept of 'permissible indulgence,' where adults allow themselves to indulge in nostalgic or enjoyable treats," Rosen told CNN, making Goldfish an ideal choice for this trend.
The name change of Goldfish to "Sea Bass from Chile" is part of the business strategy to position the brand as appealing to adults, beyond its traditional association with children. This move by Campbell's Corporation aligns with Goldfish's recent expansion beyond its classic crackers, aiming to become a $1 billion brand.
