UK: Innocent smoothie sales hit by credit crunch
Worsening economic conditions have hit sales for smoothie producer Innocent Drinks over the last six months.
Like-for-like sales have fallen by around 20% in value in the last six months, Innocent's commercial director, Giles Brook, confirmed to just-drinks today (25 September).
The drop has been blamed on declining consumer spending power, largely due to the rising cost of bills and food staples, as part of a general economic downturn.
News of Innocent's sales dip comes barely a month after Nestle and Boost Juice Bars said they were discontinuing their new range of Boosted Smoothies in the UK. They blamed sector decline for the decision.
"We have had seven years of major growth, but both Innocent and the smoothie category are not exempt from the credit crunch," said Innocent's Brook.
But, he added that Innocent's market share had increased, suggesting some competitors in the smoothie category have fared worse. "In the last four months our share has grown strongly, and we are now back up over 60%."
He said Innocent planned to launch new promotion campaigns in the near future, and said the firm remained confident.
"We are at the heart of macro-consumer trends [in soft drinks]. What we've got to do is communicate the value of smoothies, such as high fruit content."
Ethical consumerism has brought heightened pressure on soft drinks companies with regard to the environmental and social impacts of sourcing, manufacturing and distributing their products. But, Annett...
UK food and drink exports rose strongly in the first nine months of last year, according to new statistics....
Nestle has re-launched its Creating Shared Value website....
The top ten stories published on just-drinks this week:...
UK smoothie group Innocent Drinks has said it is scouting for potential bidders for a minority stake in its company....
Nestle and The Coca-Cola Co have agreed to pay US$650,000 in damages and relabel their Enviga green tea drink, following a complaint against the functional beverage by 26 state attourneys general....
See the top stories published on just-drinks this week....
Nestle cut investment in its under-performing bottled water business by more than a quarter last year and is looking to shave off more costs in 2009....
- Will Tequila Learn from Scotch Whisky's Mistakes?
- Comment - Beer - Does 'Craft' Work?
- Solving the diet drinks dilemma in the US
- SABMiller, Meantime Brewing say goodbye to 'craft'
- Comment - How to Target Cognac's Mok Generation?
- Whyte & Mackay takes on Flor de Caña in UK
- Diageo opens Johnnie Walker House in Singapore
- Emperador overhauls Whyte & Mackay labels
- SPI Group US, Canada sales chief departs
- Soaring Prosecco sales good for Champagne
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Beam Suntory Inc. - Strategy and SWOT Report