New Delhi: Mars Wrigley Confectionery looks to further boost growth in the rural market, which contributes almost 40 percent to its overall sales, by offering more products at affordable price points, a top company official said. Mars Wrigley, which recognises India as a "key accelerate market", is ramping up its distribution network and plans to launch more brands here from its global portfolio.
The company, which has brands such as Snickers, Mars, Bounty, M&M, Doublemint, Boomer, Orbit, Galaxy and Twix, is also introducing India-specific innovations in the market as per its strategy of being a "global brand with an Indian twist". The company expects India to be among its top 10 markets in the next five to ten years, Mars Wrigley Confectionery General Manager - India Andrew Leakey said.
Asked about the rural market, he said, "Yes, we would see growth. For us, rural growth is strong. You are seeing more global brands at affordable price points to bring people into those brands." To expand its reach, the company has started selling its popular caramel and peanuts filled chocolate Snickers at an affordable price of Rs 10 in the rural market as well as traditional sales channels.
The company is looking to offer more products at affordable prices, Leakey added. Presently, he said around 40 per cent of Mars Wrigley sales in India come from the rural markets, but declined to give exact figures. "We are seeing good growth from the traditional side of the business as well as in modern trade and e-commerce," he added. Mars Wrigley on Wednesday launched its global brand Juicy Fruit chewing gum in the country.
It has also introduced Doublemint Paanmint, a new India inspired variant of the product. The company has introduced some of its India specific innovations, such as Doublemint Thin Mint, in the global markets. "We can innovate in India and take that concept in other makets," he said. Mars Wrigley Confectionery has a global innovation centre in Bengaluru, which focuses on emerging markets. Besides, it has four manufacturing facilities.
