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Steve Rannekleiv

Steve Rannekleiv

Global Sector Strategist – Beverages at RaboResearch (Rabobank) in New York, leading the bank's global beverage research team and co-hosting the Liquid Assets and Consumer Foods-to-Go podcasts.

Sep 4, 2026

7:19
To Steve Renicliff, can you please give us an overview of what you're seeing on the consumer's place? Thanks, Al.
7:25
You know, I was asked to give a brief update on the consumer and thought, you know, in the ABR that I do it through the lens of just kind of looking at some of the food service results, the recent quarterly results.
7:35
And I thought it was, you know, it gave us some interesting takeaways.
7:38
And broadly speaking, you know, looking at kind of the restaurant performance index and the results from a lot of the food service operators was, We see a picture of a consumer financial health continuing to improve.
7:53
The restaurant performance index has been positive for the last five months.
7:57
You look at the results of a lot of the larger food service chains, they're doing relatively well.
8:02
A lot of that growth that we're seeing is driven by price increases and we've certainly seen that in the bureau of labor statistics data that came out where on you know food away from home inflation is higher than food at home and that's you know the price increases have helped food service operators offset some higher costs and it's been good for margins etc but it does mean that traffic has been a little bit softer uh So it is something for them to watch as they lose some occasions to food retailers.

28 MINS LATER

36:36
So let's keep, again, keep that in perspective.
20:30
What's the report that you think is worth highlighting to the audience? And I think it links back to something you were talking about.
20:37
It sure does.
20:38
It sure does.
20:40
So if you know kind of the beverage team, Burkhard, my colleague Burkhard Nessen wrote, a report called the Best Athlete Strategy.
20:51
And it's basically, it links back to all of the disruption that we talked about with kind of the implosion of RNDC, brand owners having to kind of reassess their route to market.
21:02
There had been a big push.
21:05
The two big wholesalers had been expanding their national footprint and attracting suppliers by offering lots of concessions, taking on more and more of the sales and marketing roles.

12 MINS LATER

33:29
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