Mondelez takes bite of millennial market
Driven by the increase in the number of millennial consumers, the local unit of snack company Mondelez International has launched its first filled chocolate product under the Cadbury brand to remain competitive in the snacking category.
Characterized by a chewy caramel and crunchy biscuit center filling covered by Cadbury chocolate, Cadbury 5Star, which originated from India, provides what it claims to be a unique eating experience, which is fit for the young millennial mind-set of always being on the lookout for something new and exciting.
“Cadbury as a brand is very big in India, Cadbury5star is doing well there.. so we’re hoping to replicate the success here,” says Michelle Santillan, senior brand manager for chocolates of Mondelez Philippines.
Cadbury 5Star is a brand of many firsts.
Aside from being the first filled chocolate product, it is also the first chocolate product aimed specifically at satisfying millennials.
“We are entering a new territory with this product. We haven’t really tapped the millennials aged 18-20 previously with our products, so this is going to be a new space for us,” says Santillan.
According to the 2015 FY Nielsen Market Pulse, snacks and confectionery are helping drive the growth of the Fast Moving Consumer Goods food sector in the country with a 9 percent growth in 2015 versus 2014.
Snacks cover food items such as biscuits and chocolates.
The chocolate snacks category in the country also grew by 7.8 percent as of March 2016 compared to same period last year, according to Nielsen.
Along with the rise in the frequency of snacking occasions, there is also a significant growth in the new consumer segment: millennials, who now account for 35 percent of its consumers.
Specifically, there are “young millennials” or consumers aged 18-20 who are either in college or in their first jobs and have a unique set of ideals and wants.
Aside from looking for fun, excitement and certain edgy quality in products they buy, these consumers also look for products that are moderately priced but offer great value.
Mondelez Philippines is optimistic that it will continue to grow its business by combining its snack-making expertise with programs to provide new and exciting experiences for young consumers.
For example, to imbibe the Cadbury 5Star spirit of being edgy and fun because of its multi-textures, #youthinkyoucan challenges can also be found on the packaging, encouraging young consumers to post their experiences on social media.
There are over 10 different challenges which include trying to sneeze with your eyes open and the more hilarious dare of licking your elbow.
“It gives you the sense you can do anything. It makes you feel inspired to do things that previously [the] young felt they couldn’t do,” she says, adding that they are also doing some on ground activities to reach the young millennials to make them know and taste their product.
Noting that the chocolate category in the country is very active, Santillan says Mondelez wants to get a piece of the action by building on the strengths of this newest chocolate variant, which is cheaper than the other products in its portfolio such as Toblerone and Cadbury Daily Milk.
Cadbury 5Star is available in two sizes, 15g and 45g, priced at only P10 and P34 each.
