CHICAGO executives at Mondelez International, Inc. accelerated several strategic initiatives last year to position the company to emerge stronger from the pandemic, said Dirk Van de Put, chairman and CEO. Efforts included reducing costs, simplifying operations, and investing in brands and skills.
Our actions that lead to the crisis and throughout 2020, position us to support 3% plus revenue growth in 2021 and beyond, said Mr. Van de Put during a presentation on February 16 at the virtual conference of the New Consumer Analyst York.
Enterprise strategies have led to improved market share. In 2020, Mondelez achieved record stock gains as a company, particularly in key markets including chocolate in the UK and biscuits in the United States and China.
Weve increased our focus on major brand renewal, said Mr. Van de Put. We are working more skillfully and entering the market faster. And we were using our SnackFutures center to feed emerging brands.
Mondelez is focused on launching new products less, more influential and more growing. Management plans to eliminate a quarter of the stock holding units to prioritize the highest-value, most disruptive innovation, said Luca Zaramella, chief financial officer.
We also plan to make better use of revenue growth management in terms of mixing, pricing packaging architecture, promotions and smart pricing to enhance the top and bottom lines, Mr. Zaramella said.
The companies’ portfolio is in line with consumer trends and the constant momentum in the snack, which turned out to be extremely resilient during the pandemic, noted Mr. Van de Put, citing the Mondelezs State of Snacking annual survey.
While COVID changed consumer behavior in many ways, it did not reduce appetite cravings, he said. Nearly half of the people we surveyed snacked the most during COVID as they looked for ways to take a break, get some help or a reward during difficult times. And almost 70% of our customers said they favored trusted brands during COVID, which has been positive for our portfolio.
The Oreo cookie brand, a $ 3.6 billion global business, recorded double-digit growth in 2019 and 2020, with a clear path to add $ 1 billion over the next few years, said Mr. Van de Put.
Oreo still has a lot of room to grow, he said. We are leaders in the US and China, but in other markets, we were under-indexed with considerable opportunities. We have identified 10 focus markets and defined clear brand strategies in each market based on maturity. A stock gain of just 1.2 points globally would make Oreo a global $ 4.5 billion brand by the end of 2023 and we are focused on achieving that goal.
Another area of focus is e-commerce. Mondelez has invested in improving its digital content and advancing its capabilities, including configuring its supply chain to enable direct customer delivery. As a result of these efforts, companies’ e-commerce revenues grew 75% last year and now represent 5% of total revenue, from 3% in 2019.
Expansion into high-growth segments such as well-being, premium and affordability represents another possibility. In recent months, Mondelez has introduced options with reduced and portion-controlled sugar, as well as gluten-free Oreo biscuits and products, Mr. Van de Put described them as more natural and authentic.
And we are accelerating our presence in the welfare segments through rapidly growing strategic acquisitions recently with Hu and before that, Perfect Snacks, he added.
Recent acquisitions also help Mondelez pull in withdrawals in additional snack categories, such as packaged cakes and pastries, a global $ 65 billion market, Van de Put said.
We see opportunities to gain significant share both through brand expansions and through acquisitions, he said. Our recent acquisition of bakery specialist in North American stores, Give & Go is a clear moment and we see more opportunities for growth.
The snack bar is also an area of interest.
Weve already made a significant move by buying Perfect Snacks, the No. 1 player in cold bars in North America. And our cookie brands like belVita and chocolate brands like Cadbury each plan to grow into snack bars in Europe and Asia with new offers to meet the functional and best needs for you.
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