Mondelez International CEO Dirk Van de Put explains how changing consumer habits are boosting the Oreo-maker's sales.
"If I look at food [companies], they're doing pretty good," Van de Put he said in ainterview. "I would say as it relates to their overall life circumstances and how the middle class feels ... the lower class — they don't feel well at the moment."
But the packaged food company has found success by adapting to changing consumer tastes, especially those of millennials, said Van de Put, who has led the company since the end of 2017. That demographic of shoppers has demanded more and more snack products, he added. The Illinois-based parent of Nabisco, Oreo, Philadelphia Cream Cheese and other recognizable brands recorded nearly 4% organic sales growth and more than 8% growth in emerging markets in its April quarterly earnings report. The stock has rallied nearly 30% this year.
"I don't think consumers ... want to eat the same thing all over the world, and we're trying to adapt to that," Van de Put said. "We try to get local insight and talk to [consumers], listen to them, observe their snacking behaviors and they will tell you if they like it or they don't like it and from there we develop our product."
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