01 Jun 2007


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Brands should trade up markets

Brands should be driving growth in premium market segments, according to Pierre Laubies, president, Europe, Masterfoods.

Speaking at the IGD’s Global Retailing Conference, Laubies said there was a clear consumer trend for premium lines or “less of the best” and the speciality food and drink market would be worth a further $20bn in 2008 compared with 1998.
“‘Treat yourself’ is the fastest growing sector,” he said. “It has overtaken convenience.”
Laubies said there were three core customer groups for premium products – educated consumers, wealthy seniors and urban singles.
Laubies told delegates brands could drive premium product sales by linking consumer needs with product benefits and he used the Masterfoods’ portfolio for prime examples. These included Whiskas Oh so, Uncle Ben’s Express Rice, Galaxy, Frutasia, Mars Planets and Pedigree Joint Care.
In each instance, Laubies said Masterfoods has engaged with the consumer and prompted a premium purchase. In the case of Mars Planets, for instance, Laubies said the company had developed “the taste of Mars in a different format”.

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