US food giant Kraft Foods and Mars Inc are selling smaller packs of chewing gum in a bid to appeal to cash-strapped consumers.
Kraft’s Trident and Stride chewing gum is on sale in US convenience stores in five-stick packs for US$0.50.
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“We think this will be a great option for today’s value-conscious consumer,” a spokesperson for Kraft said yesterday (25 October).
Following the trend, Mars will be selling its Wrigley gum products in smaller, more affordable packages next year.
“Like most companies, the gum and candy industry are feeling the effects of the economy and lower consumer spending which has contributed to category softness,” a spokesperson for the company said.
When asked whether Wrigley was concerned that Kraft acted first on this, the spokesperson said “our focus is on our business and delivering [the] right solutions for our consumers”.
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By GlobalData
