Mars Wrigley International Travel Retail (MWITR) is set to outline an updated category vision and strategy at TFWA World Exhibition in Cannes (Bay Village 9).
The company will also reveal the latest developments from its key M&M’S brand and its progress towards reaching its mission for a 100% traceable and responsible cocoa supply chain.
MWITR Sales Director Marcus Hudson* said: “We’re excited to meet our customers at TFWA World Exhibition in Cannes to discuss our ambitious, engaging, and sustainable growth plans for 2023 and beyond with them.
“The role of the confectionery category within travel retail has never been more important due to the margin role it is playing in accelerating growth.”
MWITR cited figures which indicate that within travel retail 8% of the total revenue comes from confectionery & fine foods, with confectionery representing 75% of this subcategory.
The company sees the confectionery category recovering faster than expected. It pointed out that in domestic markets worldwide the category is growing by +7% this year, and within travel retail the average spend per passenger is up +28% vs 2019.
“The momentum is here, and to be able to grow together we know the category needs to grow first,” Hudson added. “Therefore, in 2023 and onwards we will have a clear focus on our category vision, and we are excited to share more on this in Cannes.”
The company will also highlight its sustainability efforts.
“As a global business we have the responsibility and the opportunity to transform the way we work to ensure every part of our operations and extended supply chains help people and the planet thrive,” Hudson said.
“Crucial for the success of our overall sustainability strategy is making the cocoa supply chain more sustainable, and I look forward to sharing more on our progress during next month’s TFWA World Exhibition.”
*Click here for a recent The Moodie Davitt Report interview with Marcus Hudson on brand power, partnership and promotions.
