With findings ranging from average spend, purchasing motivations, and buying habits, one of the main stand-outs was conversion rates, where Chinese consumers rate considerably higher (57%) than the Other World (43%), and even Other Asia (49%). “Partner these figures with a much higher average spend ($31) compared to $24 Other Asia, and $25 Other World, and the opportunity for confectionery is huge, both in China and key Chinese destinations,” comments Hershey Company Regional Director, Europe and Strategy for WTR, Amy Wilson.
“Conversion rates are significantly higher in Asia than they are in the rest of the world, but there is still significant room for improvement. It is clear that the Chinese traveller is willing to spend significantly more per person on confectionery, but the overall figure of Chinese travellers visiting the confectionery sector is still relatively low — 24% in comparison to 29% Other Asia, and 32% Other World. Chinese travellers have the capacity for significant spending, but we must find new and unique ways of attracting them into the stores.”
Gifting is also an important aspect for the Chinese traveller, with 67% purchasing confectionery for a friend or loved one, compared to 62% Other Asia, and 59% Other World. “Insights like this can help Hershey plan better for the future. If a certain region is much more focused on gifting than self-purchase, then we will focus on providing products that suit those needs,” added Wilson.
“This region clearly has a lot of potential for the confectionery category, so we are excited to be sharing this information with our customers at TFWA AP. We want to work with retailers to improve all aspects of the confectionery category, from shopper engagement to the perfect retail activations with the right product offering, and research like this is an ideal base to start.”
About The Hershey Company
The Hershey Company, headquartered in Hershey, Pennsylvania, is a global confectionery leader known for bringing goodness to the world through its chocolate, sweets, mints and other great-tasting snacks. Hershey has approximately 21,000 employees around the world who work every day to deliver delicious, quality products. The company has more than 80 brands around the world that drive more than $7.4 billion in annual revenues, including such iconic brand names as Hershey's, Reese's, Hershey's Kisses, Jolly Rancher, Ice Breakers and Brookside. Building on its core business, Hershey is expanding its portfolio to include a broader range of delicious snacks. The company remains focused on growing its presence in key international markets while continuing to extend its competitive advantage in North America.
At Hershey, goodness has always been about more than delicious products. For more than 120 years, Hershey has been committed to operating fairly, ethically and sustainably. Hershey founder, Milton Hershey, created the Milton Hershey School in 1909 and since then the company has focused on giving underserved children the skills and support they need to be successful. Today, the company continues this social purpose through 'Nourishing Minds,' a global initiative that provides basic nutrition to help children learn and grow. From neighborhoods across the United States to the streets of Shanghai and Mumbai and villages of West Africa, our goal is to nourish one million minds by 2020. To learn more -
Visit: www.thehersheycompany.com
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