Mondelēz outlines strategy to boost growth in developed markets

Mondelēz International unveiled its new growth strategy for developed markets during its annual investor conference in Chicago on November 15, 2023, aiming to revitalize performance in mature regions where the snack giant faces slowing sales growth. The global food and beverage conglomerate, known for iconic brands like Oreo, Cadbury, and Chips Ahoy!, outlined a comprehensive approach focusing on product innovation, digital transformation, and enhanced consumer engagement to reignite growth in North America and Europe. The strategy comes as Mondelēz experiences increased competition from both traditional rivals and emerging healthier snack options in developed markets, where consumers are increasingly seeking more nutritious and sustainable alternatives. The company's executives emphasized that while emerging markets remain important, developed markets represent a significant opportunity through premiumization and digital channels, with plans to invest approximately $500 million over the next three years to implement these initiatives across key developed markets.