Happy Thanksgiving. Have you started prepping for the apocalypse yet?
Yes, survivalism has gone mainstream. A year of natural disasters and nuclear threats has even staid suburbanites stocking up on freeze-dried emergency rations. And that means boom times for companies such as Wise Co., a leading player in the once-niche survival food market.
As Amanda Little writes in this week’s cover story, some analysts see the industry in a similar position to organic food in the 1950s, before Americans started getting nervous about pesticides. The ideal Wise customer is now one who isn’t entirely convinced that humanity is hurtling toward annihilation but who’s willing to stock the pantry with a Mylar-fortified food supply just in case.
“This is the food equivalent of life insurance—staples that every American household in this age of uncertainty should have,” says Wise Chief Executive Officer Aaron Jackson.
As Little writes, Wise’s first customers a decade ago were anxious about inflation, economic collapse, and terrorist attacks; today the major concern is environmental instability. “It’s not just the freak events. We get calls from people saying, ‘I live in Miami, and flooding is now routine. I’m worried Florida is going to be under water in two years,’ ” Jackson says. “Or from people in upstate New York who experienced a 1-in-1,000-year blizzard and couldn’t get out of their driveway for two weeks. People who lived through the California drought, the forest fires of Texas and the Northwest, and who think maybe the government won’t come to their rescue when a disaster hits.”
In four years, Wise’s annual retail sales have more than doubled, to about $75 million. Jackson has persuaded Wal-Mart Stores, Target, Home Depot, and Bed Bath & Beyond to carry Wise products. In 2014 he also persuaded Home Shopping Network to feature the company’s wares; the TV network has become its biggest distributor.
In sum, it’s never too late to start prepping. We (OK, Bloomberg Pursuits food critic Kate Krader) even did a taste test, to help you decide what to stock up on in your bunker.
Who says the Pilgrims didn’t bring chili mac with beef with them?
Happy turkey day!
Megan Murphy, Editor, Bloomberg Businessweek
**We’re taking a quick holiday break as well—we’re back on Monday.