Your go-to gum could soon be gone for good.
Mondelez produces an extensive list of popular food brands including Chips Ahoy!, Oreo, Ritz, Triscuit, and Honey Maid, and reportedof $28.7 billion globally and $8.3 billion in North America alone. Despite these impressive numbers, gum sales have continued to be an area that is lagging behind, especially in developed markets such as the U.S.
With fewer in-person events and in-store shopping–a major opportunity for gum producers–gum popularity dropped at the start of the COVID-19 pandemic. Sales have since rebounded, however, Mondelez determined it was not in the company's best interest to continue its gum operation.
Mondelez was also forthcoming about its plans to more aggressively push sales through digital platforms. The company's announcement stated its goals to invest over $1 billion in the coming years to become the" digital commerce snacks leader", and to increase its percentage of revenue from digital channels from 6% in 2021 up to 20% by 2030.
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