Developing markets represent a significant growth opportunity as consumers increase their consumption of packaged food, beverages, household and personal care products. This is because of increasing urbanisation, the rise in disposable incomes and the purchase of more sophisticated products such as fine fragrances, high-end personal care and nutritional beverages and foods. However, to be successful in these markets, we know that true taste and smell experiences can only be created with an in-depth understanding of the local markets.
We are ideally positioned to make this a reality. We have over 1,300 creative, sales and marketing employees in the developing markets – more than any of our competitors – and are continuing to invest in creative, sales and marketing personnel and best-in-class facilities. We interview hundreds of thousands of consumers every year, have dedicated sensory panels in local markets and are expanding our TasteTreks to gather consumer and market understanding.
We will leverage this leading position in the fast-growing developing markets and expect our sales in developing markets to increase from 40% in 2010 to 50% by 2015.
To deliver this growth objective we are focusing on targeted accounts and segments including air care, household and fine fragrances in the Fragrance Division and beverages, snacks, dairy and savoury in the Flavour Division.