KIEV, Oct 27 (Reuters): Unilever, Procter & Gamble and other major consumer goods manufacturers are touting lower-priced brands, smaller packages and discounts to woo penny-pinching shoppers struggling through the most severe global recession since the Great Depression of the 1930s.
Nestle told Reuters earlier this month that it has recently launched single-use sachets of Maggi seasonings in Indonesia and smaller sachets and cooking sauces in the Philippines. The world's biggest packaged food company is working on "enhancing the meatiness of its bouillon" for when meat itself becomes a luxury, Nestle head of culinary products Agnes Lalanne said.
It also is promoting recipes that call for cheaper proteins like eggs and canned meat in the Philippines.
"We'll give this (affordable products) more emphasis," Nestle CEO Mark Schneider ?said? last week after reporting third-quarter sales, ?"because affordability, especially when it comes to the economic consequences of COVID, will become ever more important."?
Unilever, which markets food and consumer products in 190 countries, said it is making sure every market has low unit-price packages and cheaper brands.
On a conference call with reporters last week, Chief Financial Officer Graeme Pitkethly said the maker of Hellmann's mayonnaise and Lipton tea launched new variants of its Savital shampoo, which is priced below its Dove and Tresemme brands, in Latin America.
Consumer product companies usually pass along price and "promotional allowances" to a retailer, which then uses it to offer limited-time promotions such as 2 for $5 value deals, or everyday low prices.
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