OnDemand WTP Pricing Research

Food and beverage makers look to chocolate as premiumization trend grows | Food Dive

Dive Brief:

  • Jared Koerten, a Euromonitor senior food analyst, sees premiumization as “a characteristic, trait or feature of a product that elevates consumer perception, creating a willingness to pay more,” Bakery and Snacks reported.
  • Premiumization also conveys a commitment to the time and investment it takes to achieve premium product status for a brand such as Godiva or Lindt chocolate, he said recently at the Sweets and Snacks Expo in Chicago.
  • Compared to those brands, Nestlé’s KitKat is considered on the way to premiumization, Koerten said. The product is benefiting from the ruby chocolate variety introduced in Asia and from the company’s Chocolatory retail outlet in Japan. He said ingredients, packaging and channel comprise “the three pillars of premiumization.” (Hershey has an agreement to sell the brand under license in the U.S.).

Read complete article here:

Food and beverage makers look to chocolate as premiumization trend grows | Food Dive.

Post a Comment

WP-SpamFree by Pole Position Marketing