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American confectionery company Mondelez (MDLZ) continues to see steady sales despite price increases.
Mondelez has implemented price hikes in key regions such as Europe and Latin America. However, the company is believed to be defending against a decrease in sales volume based on brand loyalty.
“The company is proactively responding to offset the cost burden of cocoa,” said Kang Eun Ji, a researcher at Korea Investment Securities. He added, “During the period of cocoa price increases last year, the company raised its product prices by 12-15%.”
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Mondelez is also reportedly planning to raise prices in response to recent increases in cocoa prices.
The company has also launched Tiny Toblerone to reduce consumer price resistance.
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