1.
Distribution moats can become anchors. When volume drops, fixed costs like daily truck routes don't shrink — your advantage becomes overhead.
2.
Ride tailwinds, plan for reversals. Biology and culture built Lay's for decades, but GLP-1s and health trends flipped the script overnight.
3.
Greed kills trust faster than competition. Shrinkflation during inflation gave Gen Z a villain and healthier brands an opening they'll never close.
