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13 December 2022
Mars’ emerging market strategy: bacon Snickers
ConfectioneryLocalisation of international workStrategy
Mars, one of the world’s largest chocolate makers, has a plan to double the value of confectionery sales in emerging markets by 2024, using a product localisation strategy.
Why it matters
Bacon Snickers will only be available in Brazil. In India, chocolate eaters can enjoy a Snickers with pistachio, saffron and almond.
It’s all part of a plan to raise the average amount of chocolate eaten in new markets closer to the annual average in Europe, even in the context of a low-growth confectionery market.
The strategy reflects the need to listen to local markets, which is as vital for product development as brand governance is in succeeding globally.
Selling outside Europe
Speaking to the Financial Times, the company’s head of global emerging markets Blas Maquivar notes the vast gap between the 7kg annual average per person sold in Europe and the 500g in emerging markets. The aim of an emerging markets segment created in 2019 is to narrow this gap.
Category growth, rather than market share growth, has proven to be the company’s main lever and accounts for around 75% of the emerging market growth to date.
Advertising spend, with messaging tailored to key markets, has grown 30% year on year, the company says.
Distribution and availability are major challenges, with tiny ‘mom and pop’ stores the key target. The number of small stores which stock Mars products has grown from 40% in 2019 to 60% today.
Sourced from Financial Times, WARC [Image: Shoppee]