In Search of Snacks: Mondelez Details Today’s Discovery Trends
SEO still matters, at least when it comes to snack discovery.
That’s according to findings from Mondelez’s annual "State of Snacking Report," which reports that 62% of survey respondents engage in online research through search engines to discover new snacks. This was bested only by reading labels and word of mouth when it comes to learning more info about the products.
The survey also found that social media continues to play a significant role as not only a product discovery channel but also for transacting: 52% agreed with the statement: “It would be amazing to have an ‘instant buy’ button for all the snacks I discover on social media.”
See also: Mondelēz RGM and Marketing Strategies Get AI Brain Boost
Perhaps unsurprisingly, Gen Z and millennial consumers were more likely to turn to social platforms, video content, food influencers, and online communities than elder snackers.
Consumers continue to overwhelmingly call for personalization, with 74% reporting they’re interested in snacks tailored specifically to their personal health and nutrition needs. What’s more, 65% cited interest in snacks that allow for personal customization, including preferred flavors or ingredients, according to the survey, which was conducted in partnership with The Harris poll.
CPG Innovation & Discovery
After trimming SKUs to navigate supply chain woes, many CPGs have ramped product innovation to combat pressure inflicted by private label brands and other competitive factors. New CPG product introductions declined 16% during the pandemic, according to Circana data shared with CGT, but companies have been ramping up innovation since.
But today’s innovation strategies aren’t necessarily all about more products: Mondelez CEO Dirk Van De Put noted in the company’s Q4 earnings call in January that it’s adapting how it views innovation, including through the gradual elimination of hundreds of small projects to shift focus toward larger ones.
This includes expanding its focus on healthier versions of mainstream products, entering the cakes and pastries segment, and doubling down on premium chocolates. The company also opened a new R&D center in Whippany, N.J., last year.
“I think the impact of innovation on our growth will increase in the coming years, but it's not driven by more innovation, it's driven by better innovation,” Van De Put noted.
