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Meenakshi Verma Ambwani
With in-home consumption becoming the new normal during the pandemic, Mondelez India is ramping up its snacks product portfolio by entering into the cakes segment. It is extending brand Cadbury to the cakes segment and plans to launch Cadbury Chocobakes Choc Layered Cakes by mid-July.
Sudhanshu Nagpal, Associate Director – Marketing (Biscuits), Mondelez India, said, “Consumers are consistently seeking new eat experiences and are experimenting with chocolate in new formats. In line with this consumption trend, we are launching layered cakes under the brand Cadbury Chocobakes to strengthen our snacks portfolio in the country.” Earlier this year, the company had extended brand Cadbury to the cookies and biscuit segment.
Cadbury Chocobakes Choc Layered Cakes will be available at ₹10 for a single pack and ₹60 for a pack of six. “Cadbury enjoys strong brand equity in both rural and urban regions.While the ₹10 price point will be the key distribution driver, ₹60 large pack will be available in modern trade stores and e-commerce platforms,” he said.
While on one hand, lower price packs such as ₹5 and ₹10 are gaining salience in the current times, consumers are also upgrading to bigger packs due to rising in-home consumption and pantry loading behavioural trends, Nagpal added.
Third pillar of growth
The leading snacks company, which has a strong presence in the biscuits segment with brands Oreo and Bournvita, believes Cadbury Chocobakes will be a key third pillar of growth in the country. “Our biscuits business has been one of the key growth drivers for us. For the past 10 consecutive quarters, we have been gaining market share. Even during the lockdown period, despite some disruptions initially, we witnessed strong uptick in demand for brands Oreo and Bournvita. The strong demand trends have sustained beyond the lockdown,” said Nagpal.
The company believes it is well-poised to garner market share in the ₹2,000 crore-packaged cakes category, which is growing at CAGR of 18 per cent.
“We believe the snacking segment will continue to grow in importance in the country and the pandemic has further accelerated this growth. We are focusing on a multi-faceted approach to leverage on the consumption trends by giving differentiated and delightful eat experiences at the right price points,” he added.
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