Companies have adjusted to the havoc wreaked by COVID-19, and Mondelēz International is no stranger to pivoting strategies when the need calls for it. In the brand behemoth’s latest financial results and earnings call, it outlined investment strategies to continue delivering value to both investors and consumers.
"Our third quarter performance was strong across all key metrics, with broad-based revenue growth as demand remained elevated in Developed Markets and sequentially improved in Emerging Markets. Our teams are executing well, and we continue to deliver share gains by meeting the needs of customers and consumers, despite the uncertainties caused by COVID-19. Our strategy remains unchanged, and we are accelerating certain initiatives and increasing the investment behind our brands to further support long-term sustainable growth," said Dirk Van de Put, Chairman and Chief Executive Officer.
The earnings call outlined that its two categories, biscuits and chocolate, continue to perform well, as well as value-added meals. As more consumers cook at home, it’s safe to assume that these buying behaviors will continue to trend up.
"Our long-term growth strategy remains unchanged, but during this crisis, we have accelerated certain initiatives in order to emerge stronger and build further on our advantaged position,” Van de Put continued in the earnings call. “First, we are simplifying our business in order to facilitate more growth and reduce costs. Examples of this would be SKU reduction and innovation streamlining. Second, we are accelerating a number of growth initiatives in order to maintain our momentum and build on our share gains. For instance, in H2 we are increasing investment in our brands and commercial capabilities. We've also focused more on the momentum in e-commerce and the grocery channel. Third, in order to offset some of the extra COVID-related costs, we have advantaged—or advanced a number of strategic cost-reduction initiatives.”
As always, Deli Market News will be on the lookout for the latest in specialty food updates.