Ocean Spray: BRIC expansion plan
He is also looking to ensure that the cranberry remains firmly entrncjhed in markets already developed, such as Europe, Australia and Mexico.
"When we look at all our markets, they all play different roles. So more established developing markets help to pave the way to invest in up-and-coming markets.
"Markets like Mexico and Australia allow us the opportunity to look at opportunity markets, such as China, South America, parts of Central America – where the brand doesn’t exist today."
He says he can gauge potential interest in new markets by considering their current juice consumption patterns.
"The countries we’ve gone into are good juice markets. A great example is South America. They create a lot of their own juices.
"But they’re going through the same socioeconomic changes we did in the 1950s and 1960s: two-income families where the mother is out working and doesn’t have time to go out and crush fruit and make fresh fruit drinks.
"So we look at juice consumption, what types of juices are being consumed and if we can bring a convenience proposition to them.
"We look at that part of the socioeconomic formula in countries and match it up with their income levels. And if the two have scale, we’ll introduce into that market."
Ocean Spray have decided that the best way to approach such markets is with a partner.
"We look for partners who are strong in the food and beverage industry, who have scale through the supply chain that will help us physically get the products into these countries around the world, and who have a strong sales presence with retailers in these countries."
Source: patriotledger.com
