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Wispa bar helps Cadbury’s gain market share
When Cadbury relaunched Wispa late last year – five years after it was discontinued – it instantly became the most popular chocolate bar in Britain. Analysts say the chocolate bar helped the candy and gum maker gain market share in the UK in the second quarter of this year, even as it raised prices in the downturn.
Cadbury gained 3% market share in Britain during the second quarter of 2009, which included the busy Easter period, though non-seasonal trading also saw a market share gain of about 2.5%.
Cadbury also saw an increase in sales in the US, particularly of gum. In the previous quarter, this business had dropped off as American retailers concentrated on using up existing stocks. As Cadbury raised prices, it also cut back on marketing, which it will now focus on for the final six months of 2009.
“We reconfirm our full year guidance for revenue growth around the lower end of our 4–6% goal range, and to make good progress towards our goal of mid-teens margins by 2011,” said Cadbury chief executive, Todd Stitzer.
Source: Forbes
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