Filippo Berio is among many brands faced with the challenge of shoppers switching to cheaper supermarket own-brands during the cost of living crisis. However, the olive oil brand has said that, although it acknowledges that consumers may trade down to cheaper alternatives, it plans to continue to invest in marketing to defend its category position. In a sign that the brand is keeping up its promotional activity, Filippo Berio recently hired a new PR and social agency. Part of its work will be around the brand’s sustainability report. Filippo Berio has also recently unveiled an NPD in the form of two vegan pesto variants.
In 2021, the oil brand protected its growth, brought on by the home-cooking boom of 2020, with its sales remaining at £64m. However, due to increased shipping, logistics, materials and packaging costs, profits fell from £4.4m to £1.8m. Showcasing its sustainability credentials to consumers will aim to offset the rise in price of its oils and related products, due to increased costs as well as drought affecting olive crops.