Chocolate fans seem willing to swallow price hikes if they are accompanied by exciting NPD.
Despite the average volume price of Cadbury Dairy Milk rising 7.5% to £9.36 a kilo over the past year, sales of the brand have grown 6.5% by volume while value has risen 14.4% [IRI 52 w/e 20 July].
Brand owner Mondelez International said the growth was down to inventive NPD, which has included the launch of Dairy Milk with Oreo and Marvellous Creations.
“It’s taken focus from us to increase investment in R&D and innovation,” said Mondelez marketing director Matthew Williams.
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