Nestle Adds High-End Snacks as Chinese Consumers Opt for Premium

by swisscham in Business

Nestle SA is revamping foods and beverages in China such as chocolate and coffee after sales there stagnated last year because younger consumers are increasingly opting for higher-end and more nutritious items. Revenue from the greater China region was little changed at CHF 6.64 billion (USD 7 billion) last year, the Switzerland-based company said on 19 February. Demand for traditional products such as Hsu Fu Chi biscuits and Yinlu peanut-milk beverages waned, according to Nandu Nandkishore, NestleÕs head of Asia, Oceania and Africa. ÒPeople born after 1980 are born in single-child households and have been living a life of relative abundance,Ó Nandkishore said in an interview in Vevey. ÒTheyÕre making choices that are much more premium and have nutrition, health and wellness arguments.Ó

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