Campbell's commemorates updated soup can labels with NFT collection

2021/07/29 Innoverview Read

Dive Brief:

  • Campbell's will mark the redesign of its iconic soup can labels with a nonfungible token (NFT) collection by artist Sophia Chang, per a press release. The updated labels maintain the classic red and white blocking but feature a modernized logo and other minor changes.

  • The 100-piece NFT collection, titled "AmeriCANa — Sophia Chang X Campbell's," will be available via Ntwrk on July 27 at 5:30 p.m. EDT. One animated NFT piece will be auctioned on OpenSea through Aug. 6 at 9 p.m.

  • Proceeds from the NFT sales will benefit Feeding America, and the brand will work with Ntwrk and sustainability platform Aerial to offset the carbon footprint of the NFT. These purpose-driven elements allow Campbell's to tap into interest around NFTs while addressing issues like sustainability.

Dive Insight:

The Campbell Soup Co.'s latest effort ties together several marketing trends that have come into focus as the pandemic altered and accelerated consumer behavior changes, but in a way that speaks to the pop cultural significance of its iconic labels.

"We've been on a journey to reimagine this iconic brand and appeal to new generations of consumers who are cooking at home more than ever, while still honoring our rich history," Linda Lee, CMO of Campbell Soup Co. Meals and Beverages, said in the press release.

The label's redesign embraces the same "comfort, goodness and Americana" of the previous label, per the announcement. It follows a host of brand refreshes that were launched during the past 18 months as CPG brands sought to maintain sales gains driven by consumers cooking more — especially familiar comfort foods like Campbell's soup — at home. Campbell's refresh is subtle, keeping the red and white color blocks in place but altering the logo (with a font based on founder Joseph Campbell's original signature) and paying tribute to the soup's first labels from 1898.

The company also is modernizing its connection to the worlds of art and pop culture that was first made through Andy Warhol's iconic 1960s pop art series. The 100-piece NFT collection by street-style illustrator Sophia Chang taps into interest in the technology, which allows for unique digital assets stored on a blockchain ledger and has taken the art and advertising worlds by storm.

Brands including General Mills, Charmin, Domino's, Stella Artois and Asics have used NFT technology in campaigns this year. As with many other branded NFT efforts, the Campbell effort has a charitable element.

Along with a digital auction on the OpenSea platform, the brand will make most of the NFTs available through Ntwrk, the app that sells merchandise via livestreams. Ntwrk has been a beneficiary of increased livestream shopping, a market that could reach $6 billion this year and $25 billion by 2023, Coresight Research predicts. Mtn Dew, Adidas and Cheetos are among the brands flocking to the platform to sell merchandise.

However, while interest in NFTs surges, so is controversy about the environmental impact of the technology, as the amount of computer processing involved in completing transactions can generate significant carbon dioxide gas emissions. Campbell's is attempting to head off this controversy by working with Ntwrk and Aerial to offset the carbon footprint of the NFTs, a tactic previously embraced by cosmetics brand E.l.f.

The redesigned soup labels and Ntwrk-powered NFT sale come as the company scrambles to confront declining sales, driven by consumers returning to some pre-pandemic behaviors and preparing fewer meals at home. Campbell's U.S. soup sales dropped 21% in Q3 2021, per its most recent earnings report.

(Source: Marketing Dive Campbell's commemorates updated soup can labels with NFT collection | Marketing Dive )