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GENERATING

INCREMENTAL
GR WTH
THROUGH
PROMOTIONS
NOVEMBER 2018

GLOBAL UNDERSTANDING OPTIMISING


ANALYSIS INCREMENTALITY FOR GROWTH
CO NTENTS

CONTENTS
03 Unders tanding shor t-term uplif t s to achieve success

04 Painting the promotional landscap e

06 C hannel comparison

07 Categor y comparison

08 Analysing promotional spikes

09 Maximising incrementalit y

10 O ptimising by countr y and categor y

12 The local pic ture

14 Conclusion

15 About us

2
INTRO D U C TI O N

UNDERSTANDING SHORT-TERM
UPLIFTS TO ACHIEVE SUCCESS
The ultimate aim for any brand is However, while promotions may Success, whether for brand or
to grow, and promotions play a help grow brands to attract new retailer, can only come when
significant part in achieving this shoppers – as well as encourage promotions manage to
goal. Whether it’s by increasing their return – there is no long-term encourage additional purchasing
sales for old favourites, or helping impact on penetration. at a category level that would
establish brand new product lines, not otherwise have happened.
promotions are crucial for retailers Success comes from thoughtful We call this “incremental
and manufacturers alike. consideration of where a growth”—it’s the most effective
promotion most appropriately fits measure by which to analyse
It’s not just anecdotal, but within the entire marketing mix. promotion performance.
something borne out in hard
facts. Across the six markets Through our panels, we can see At Kantar Worldpanel, we not only
analysed for this study (Brazil, the level of promotions in each measure the level of promotion
China Mainland, France, Mexico, of our studied markets, as well by market, by sector and by
Spain and the UK), we found that as the uplift these promotions category—we also know the full
more than one dollar in every have provided. picture of how a promotion has
five spent on FMCG was through helped both the brand and the
promotions. In the UK, this rises to retailer gain incremental volume.
a third of total FMCG spend.

% promoted value for total FMCG One in every five


dollars globally
Source: Kantar Worldpanel (52 w/e June 2018)

is spent on
promoted goods

34% 19.1% 16.1% 16% 14.7% 9.5%

UK CHINA MAINLAND BRAZIL SPAIN FRANCE MEXICO

3
PAINTIN G THE PRO M OTI O NAL L ANDSC APE

PAINTING THE
PROMOTIONAL
LANDSCAPE
Growth has become more difficult for
FMCG brands and retail—making ‘zero’
the watchword for the FMCG industry.

With 25% of FMCG value generated by


promotions in hyper- and supermarkets,
how can brands and retailers optimise
their strategies to deliver new growth
opportunities? And, in an increasingly
fragmented and multi-channel world,
are promotions still a viable strategy?

There are nuances in individual


markets that it’s vital manufacturers
and retailers understand.

% promoted value for total FMCG


Source: Kantar Worldpanel (2016 - 2018)

38.2% 34.8% 34% 17.7% 18.3% 19.1% 16.3% 16.5% 16%

52 w/e 52 w/e 52 w/e 52 w/e 52 w/e 52 w/e 52 w/e 52 w/e 52 w/e


June 2016 June 2017 June 2018 June 2016 June 2017 June 2018 June 2016 June 2017 June 2018

UK CHINA MAINLAND SPAIN

14.4% 14.7% 14.7% 10.8% 10.1% 9.5% 10.7% 12.8% 16.1%

52 w/e 52 w/e 52 w/e 52 w/e 52 w/e 52 w/e 52 w/e 52 w/e 52 w/e


June 2016 June 2017 June 2018 June 2016 June 2017 June 2018 June 2016 June 2017 June 2018

FRANCE MEXICO BRAZIL

4
PAINTIN G THE PRO M OTI O NAL L ANDSC APE: CO UNTRY CO MPARISO N

EUROPE
Promotion value growth is flat in Europe, at +1%
in the UK, +1% in France and 0% in Spain. The UK
remains the most important country for promotions
globally, representing more than a third (34%) of
total FMCG spend.

The UK’s share, however, is noticeably declining. An


increase in discounters that focus heavily on private
label brands rather than activating promotions,
and the ‘big four’ supermarkets (Tesco, Sainsbury’s
ASDA and Morrisons) opting for ‘everyday low price’
strategies, means promoted value share in the UK
has fallen from 38.2% to 34% since 2016.

ASIA
E-commerce is growing fast in Asian countries, driven
mostly by improving internet connectivity, which
is now more easily available and at a lower cost.
E-commerce today represents a 19.9% share of FMCG
value share in South Korea, 9.5% in China Mainland,
7.6% in Japan, 7.2% in Taiwan, 1.5% in Malaysia, and
1.2% in Vietnam and Thailand.

This shift towards e-commerce is encouraging


shoppers to spend more on promotions in the
region. As an example, China Mainland was the
second-fastest-growing market for promotions in
our study (+9%), due to the success of promotional
events like the 11.11 Global Shopping Festival across
Alibaba platforms.

LATIN AMERICA
Once a channel purely for trade customers, Cash
& Carry (C&C) stores are enticing shoppers with
treasure troves of promotional offers, now selling
directly to 46 million households across Latin
America—or 44% of the population.

C&C value sales grew 20% in 2017, driven mainly by


the economic downturn in Brazil and Argentina—with
these countries representing 80% of total C&C spend
in Latin America. In these stores, many promotions
involve larger pack sizes. As a result, Brazil was the
fastest-growing country for promotion value in our
study, increasing its promoted value share from 10.7%
to 19.1% in the past three years.

5
CHANNEL CO MPARISO N

CHANNEL COMPARISON
E-COMMERCE IS GROWING FAST E-commerce is the most promoted
channel—ahead of hyper- and supermarkets 36.1%
The 2018 edition of Kantar 33.9%
Worldpanel’s Winning Omnichannel % promoted value by channel
publication revealed the significant
26.1% 25.9%
changes taking place in the global
retail landscape. It pointed towards 21.1% 21.4% 21% 20.6%
a rapidly evolving landscape, with 18.3%
e-commerce (+15%), discounters 16.4%
(+5.2%) and C&C (+4.4%) topping 11.7%
11.3%
the list as the fastest-growing 8.9%
9.8%
channels globally.

It’s clear that e-commerce – the


fastest-growing retail channel – is Total Hyper- / Discounters Cash and Proximity / E-commerce Traditional
Supermarkets carry convenience share
also the most prolific for shopper
promotions—with promoted 52 w/e June 2017 52 w/e June 2018 Source: Kantar Worldpanel
value increasing by 25%. Its
swift emergence has created a
highly competitive marketplace, The exception to this trend is Spain, PROMOTIONS DRIVE FOOTFALL
where introductory offers and where leading supermarket chain As the below graphic shows, the
heavily promoted products are Mercadona believes in employing biggest retailers tend to invest
commonplace. Promotions now an aggressive ‘everyday low price’ more in promotions than the
represent more than a third (36.1%) strategy rather than promotions. average hyper- or supermarket.
of all e-commerce spend globally.
As previously discussed, the For example, in the UK, the ‘big
ONLINE VALUE second-fastest-growing channel four’ supermarkets all invest
OUTSTRIPS OFFLINE for promotions was C&C (+21%). similarly in promotions—with Tesco
In nearly every country analysed in At the other end of the scale, leading the charge with 42% of its
our study, the value of promotions convenience stores (+0.7%) and value generated with promotions,
across channels was higher online hyper- and supermarkets (+1.7%) above the average 36% average
than offline—by 50%, on average. only achieved modest growth. for hyper- and supermarkets.
This demonstrates the opportunity Again, this alludes to the rise
for brands and retailers to optimise of discounters and adoption of Across markets it is clear that –
promotions mechanics online to ‘everyday low price’ strategies. apart from for discounters, and
drive growth. Walmart in Mexico – promotions
are still a major tactic for
increasing in-store footfall.
Leading retailers invest above average
% promoted value share for top three retailers in each country

HM/SM average (36%)

HM/SM average (24%)

HM/SM average (15%)

42% 36% 39% 28% 24% 35% 5% 36% 28%


Tesco Sainsbury’s Asda RT Mart Walmart Vanguard Mercadona CRF Hiper Dia%

UK CHINA MAINLAND SPAIN

HM/SM average (19%)


HM/SM average (18%) HM/SM average (18%)

18% 20% 20% 10% 20% 9%


24% 25% 20%
E.Leclerc Carrefour Intermarche Walmart Soriana and Chedraui
Com Mex Casino CRF Walmart

FRANCE MEXICO BRAZIL


Source: Kantar Worldpanel
(52 w/e June 2018)
6
C ATEG O RY CO MPARISO N

% promoted value share by sector


Source: Kantar Worldpanel (52 w/e June 2018)

34% 19.1%

CATEGORY
38.1% 20.4%
35.7%

17.1%

COMPARISON
UK CHINA
20.7% 11%
30.4%

44.6%

HOME CARE AND HEALTH


27.4%
& BEAUTY ARE THE MOST 38.2%

PROMOTED SECTORS
At a global level, our analysis
16%
suggests that the most important 14.7%
sectors for optimising spend on 15.7% 17.8%
18.6% 14.4%
promotions are health and beauty
and home care. Essential, bulk-buy
products will always shift more SPAIN
volume under promotion. 12.1% 13.3%
20.7%

14.8%
There are some interesting
differences between the most
attractive sectors for promotions 18.7% 16%

at a local level. While health and


beauty and home care are the
most prominent sectors in China 9.5% 16.1%
Mainland, Spain and Mexico, 13.5% 20.4%
9.7%
beverages is the most important
sector to optimise in the UK and 9.9%
France. In Brazil, the dairy sector is
almost equally important as 6.2%
8.4% 19%
health and beauty.
14.2%

13.4%
12.5%

Total FMCG Food Beverages

Home Care Dairy Health & Beauty

SHOPPER PROFILES Promotions resonate with higher-income families


Promotions will have impact with all shopper
profiles, but some targets are more receptive FAMILY
than others. Surprisingly, we see the highest AGE MEMBERS INCOME

35-49 >5 HIGH


engagement from young families with
higher incomes—which can be explained by
the fact promotions focus on branded goods
popular with higher income shoppers, rather
than private label. Source: Kantar Worldpanel (52 w/e June 2018)

7
ANALYSIN G PRO M OTI O NAL SPIKE S

ANALYSING PROMOTIONAL SPIKES


While we’ve seen that promotions for both penetration and the type of promotion or the timing,
drive sales across all channels and volume per buyer. volume will immediately decrease
categories, it’s not a simple recipe afterwards.
for successful growth. In fact, At brand level, deals drive a purely
promotions do not support long- short-term uplift in volume. Price Tesco’s promotions pattern is
term growth at all. cuts bring in more shoppers, and confirmation that this doesn’t
volume deals drive weight of help to build your brand in the
With every promotion, purchase, but sales always return long term. It’s important from a
manufacturers and retailers are to a consistent baseline. tactical standpoint, and helps win
likely to see a significant spike in share this year versus last, but it’s a
sales. But, once the promotion has Take the example of Tesco, the short-term gain. This pattern rings
ended, things go back to normal— British supermarket chain, as shown true for many brands across the six
reaching the same level as before in the chart below. Regardless of countries we studied.

How promotions impacted sales on brand A at Tesco

Extra sales
Base sales
w/e 09 Jan

w/e 23 Jan

w/e 06 Feb

w/e 20 Feb

w/e 05 Mar

w/e 19 Mar

w/e 02 Apr

w/e 16 Apr

w/e 30 Apr

w/e 14 May

w/e 28 May

w/e 11 Jun

w/e 25 Jun

w/e 09 Jul

w/e 23 Jul

w/e 06 Aug

w/e 20 Aug

w/e 03 Sep

w/e 17 Sep

w/e 01 Oct

w/e 15 Oct

w/e 29 Oct

w/e 12 Nov

w/e 26 Nov

w/e 10 Dec

w/e 24 Dec

w/e 07 Jan

w/e 21 Jan

w/e 04 Feb

w/e 18 Feb

w/e 04 Mar

w/e 18 Mar

w/e 01 Apr

w/e 15 Apr

w/e 29 Apr

w/e 13 May

w/e 27 May

w/e 10 Jun

w/e 24 Jun

w/e 08 Jul

w/e 22 Jul

w/e 05 Aug

w/e 19 Aug

w/e 02 Sep

w/e 16 Sep

w/e 30 Sep

w/e 14 Oct

w/e 28 Oct

w/e 11 Nov

w/e 25 Nov

w/e 09 Dec
2016 2017
If that’s the case, how can retailers and manufacturers achieve growth alongside promotional activity?
This approach relies on three core considerations:

1.The size of the spike


The volume sold by the deal.
Theoretically, the more shipped Maximising incrementality
by manufacturers, the more both for manufacturers
they and the retailer stand to gain. % source of volume
Source: Kantar Worldpanel
2. The number of
promotional events Incremental: extra volume due to
A higher frequency of promotions shoppers consuming volume faster
during the year will drive
Stolen from a competitor
more volume.
3. The quality of the spike Cannibalised from
Most importantly, we need manufacturer’s own portfolio
to know where promoted
Displaced: would have purchased
volume “comes from”, and its
anyway, but at a later date
incrementality. A smaller volume
spike may offer higher value Subsidised: would have
gains, if more of that volume purchased regardless
is incremental.
Not promoted
This is the most straightforward
approach to activate, as it does
not require negotiation between
retailers and manufacturers.

8
MA XIMISIN G IN CREMENTALIT Y

MAXIMISING INCREMENTALITY
For both manufacturers and retailers, Source of volume (average across laundry, colas, biscuits and shampoo)
the most important considerations % promoted value
are whether the promotion was Source: Kantar Worldpanel
incremental to the category –
meaning it brought in shoppers
consuming more volume, more 25% 18% 23% 26% 24%
31% 27%
quickly than before – and how
much of that volume was stolen
from competitors. It’s important
33% 25%
to avoid cannibalisation of a 30% 28% 31% 29%
brand’s existing portfolio.
35%

For manufacturers shipping to 28%


27% 30% 28% 26%
the countries covered here, 25% 29%
of promoted value is incremental 19% 3%
2% 1% 2% 1%
to the category. When combined 1% 1%
with sales stolen from competitors, 17% 18% 14% 21% 17% 20%
12%
55% of everything shipped by a
manufacturer during a promotion
is incremental to the brand. AVERAGE

For retailers, only 18% is stolen Incremental Stolen Cannibalised Displaced Subsided
from competitors—66% can be
attributed to cannibalisation
within the store. That represents
a significant opportunity to
Expandable categories boost incrementality
maximise incremental sales.
Source: Kantar Worldpanel

EXPANDABLE CATEGORIES
HOLD THE MOST POTENTIAL
More expandable categories such
as colas or biscuits – where the more 21% 14%
20% 21%
somebody buys, the more they can 2%
consume – display higher levels of 2%
incrementality. Understanding the
potential for expansion is the best
way to achieve growth. 28%
28% 29% 35%

17%

LAUNDRY SHAMPOO
18%

Source of volume for retailers 10%


% promoted value 27% 2% 26% 21%
Source: Kantar Worldpanel
(52 w/e June 2018)
2%
66% incremental to the category 25%
out-of-store steal
in-store steal
25%
26%
36%

BISCUITS COLAS
9
O P TIMISIN G BY CO UNTRY AND C ATEG O RY

OPTIMISING BY COUNTRY
AND CATEGORY
There’s no universal rule for promotion mechanics
% promoted volume versus % incremental sales
To improve incrementality, we need
to understand the most effective
promotional mechanic within a
country or category.

In the markets we’ve analysed,


we’ve calculated promoted volume
36% 36% 36% 36%
and incremental volume—if a specific
Temporary price Multipacks
mechanic or type of promotion reduction
shows a higher percentage for the UK
latter, that suggests it is a more
efficient approach.

The conclusion is that there is no


universal rule; no common pattern
shared across all countries and
categories.
4%
41% 45% 55% 46% 8%
Looking at how promotions perform
Temporary price Multipacks Extra volume
in the cola category, for example, reduction free
we can see significant differences SPAIN
in different markets.

In the UK, a temporary price


reduction (TPR) performs more
effectively than a multipack offer,
suggesting brands should focus
on the former over the latter.
2%
There are starker differences in 7% 36% 26% 22% 32%
other countries, for example Temporary price Multipacks Extra volume
Brazil—where TPR clearly does reduction free
not work. Conversely, offering FRANCE
extra volume free has a strong
positive impact.

In France, TPR is underutilised within


colas, while multipack offers appear
to be overused and inefficient.

This detail is invaluable for informing 4%


manufacturers and retailers’ 59% 26% 35% 22% 28%

promotional strategies, identifying Temporary price Multipacks Extra volume


reduction free
how to avoid cannibalisation and
drive more incremental spend. BRAZIL
Source: Kantar Worldpanel

10
O P TIMISIN G BY CO UNTRY AND C ATEG O RY

Optimisation depends on category and country nuances


Based on which mechanics perform best, according to our model
Source: Kantar Worldpanel

LAUNDRY COLA SHAMPOO BISCUITS

UK

SPAIN

FRANCE

BRAZIL

MEXICO

MULTIPACK PRICE CUT EXTRA FREE

11
THE LO C AL PI C TURE

THE LOCAL PICTURE


We spoke to our local experts about the promotional landscape in each market.

UK SPAIN FRANCE

Russell Hill Aude Boscher Stéphanie Papin


Solutions Director Shopper Director Business Unit and Analyst Director

How has the promotional How important are promotions? How important are promotions?
landscape changed in the Promotions are a key element Promotions are a hot topic
past 10 years? of differentiation for retailers due to the États Généraux de
Supermarkets, led by Sainsbury’s, attempting to compete with l’Alimentation (EGA)—a new law
have reacted to the rise of Aldi and Mercadona—which has high levels encouraging sustainability in the
Lidl by reducing the number of multi- of loyalty and household reach food and agricultural sectors. Many
buys in favour of simple price cuts— despite not using promotions or anticipate BOGOF to be affected,
also nodding to consumer concerns a loyalty programme. Consum with some expecting it to disappear
around food waste. Retailers are now is one example, with its efficient completely. To mitigate this,
looking to compete with discounters promotional model well received by retailers such as Leclerc have begun
by providing cheaper prices through the Spanish public. exploring different mechanisms—
their own ranges. predominantly loyalty cards.
Who is promoting well?
Which promotions work best? Lidl’s promotional model is How has the promotional
The market may be dominated performing well. It focuses on direct landscape changed in the
by price cuts, but our research discounting, differentiating it from past 10 years?
shows that multi-buys are better the multi-buy strategies of more French retail has gone through a
for both retailer and category— established hypermarkets—and has sustained price war, with promotions
they encourage less steal between successfully attracted new buyers increasingly used as a differentiator.
brands and more incremental in-store. On average, one in three However, since 2017, households
purchasing. Meat, Fish and Poultry is promotional buyers entering a have become less interested in
an area where retailers can win with category will have done so in Lidl. promotions—in beauty, for example,
shoppers, as the rest of the plate is promotions no longer compensate
often sourced from the same store. Pizzas, coffee and olive oil are the for category decrease.
three most efficient categories. The
How do you see the promotional discounter’s country-themed weeks How do you see the promotional
landscape changing in the next are supported by media campaigns, landscape changing in the next
few years? doubling penetration during the few years?
The ‘less is more’ mentality, driven promotional period in categories We’re waiting to feel the full
largely by the success of the such as pasta. impact of the EGA, which we
discounter model, will become more may not experience until 2020.
commonplace. But there will also be How do you see the promotional In unaffected categories, such
more cross-category – possibly even landscape changing in the next as health and beauty and home
cross-industry – tie-ups to help lock in few years? care, we’re likely to see a dramatic
shopper loyalty. We’ve seen this with More FMCG players are questioning increase in promotions.
the John Lewis Partnership looking the efficiency of mass promotions,
to merge loyalty schemes across the which has devalued some categories. Regardless, the desensitisation
John Lewis & Partners and Waitrose Moreover, with the digitalisation of consumers will continue, as
& Partners brands. of the market, speed and they instead seek out organic
personalisation are fundamental. We foods and healthy recipes.
expect personalised offers through
mobile apps to become a key driver.

12
THE LO C AL PI C TURE

BRAZIL MEXICO CHINA MAINLAND

Flavia Amado Lilia Valdes Heather Li


Shopper Director, Latin America Shopper and Retail Manager Senior Analytics Manager

How has the promotional Which promotions work best? How has the promotional
landscape changed in the Promotions in Mexico work on a landscape changed in the
past 10 years? seasonal basis. Soriana operates past 10 years?
The past decade has seen “Julio Regalado” in July, while The rapid move to e-commerce
promotions make increasing use “Temporada Naranja” is run by La and digitalisation has led to a wider
of technology, with loyalty cards Comer around the same time. The variety of promotions. Even in bricks-
becoming especially important success of these seasons has led and-mortar stores, digital coupons
thanks to personalisation. What other retailers to launch similarly and QR codes are becoming
hasn’t changed is that main actions intensive activity to compete— more common than analogue
are still price-driven and run for Chedraui now runs “Festival de la mechanisms.
short periods. Too often, promotions Belleza”, during which it uses 3-for-2
are unfortunately used as an promotions in the beauty category. What impact is this having on
indiscriminate solution for struggling purchase behaviour?
products. Who is promoting well? Shoppers are becoming more
Regional retailers, such as Calimax promotion-driven because of the
What impact is this having and Casa Ley, have effective high- attraction of achieving value for
on purchase behaviour? low strategies—30% of sales at these money on premium products.
Brazilian shoppers tend to seek two retailers are through promotions. Digital platforms allow promotions
out discounts, but multibuys are Interestingly, convenience stores to be more targeted, so shopper
receiving more attention. When have a higher share of promotions experience has improved.
consumers find a good promotion, than self-service stores; promotions
they tend to spend more at the in convenience have grown in the How do you see the promotional
retailer and become more loyal, last year, while self-service stores landscape changing in the next
increasing spending index. have lost share. few years?
Promotion will become more
How do you see the landscape How do you see the landscape creative, and full-chain promotion
changing in the next few years? changing in the next few years? will become more common. For
E-commerce has had real difficulties With consumers in Mexico using instance, shoppers could see a
in growth in Brazil, due to logistical more channels to shop, promotions promotion on Weibo, and click for
barriers and cultural resistance, but will become increasingly relevant. a coupon to buy on Taobao. Then,
there is real opportunity through Online channels can offer more after a few weeks, the shopper could
promotions. We could see channels promotions than ever before, receive another coupon for the same
using promotions in conjunction with giving shoppers the power to make product on the Walmart virtual store,
apps, social media and geolocation intelligent purchasing decisions. reminding them to buy again.
to achieve cut-through. However, with “promotional
seasons” being executed by retailers
more frequently and for longer
periods of time, manufacturers
may struggle to keep prices as
low for as long.

13
CO N CLUSI O N

FIVE PRINCIPLES TO
GROW THROUGH
PROMOTIONS
Over the course of this study we’ve seen how promotions
can have significant impact for manufacturers and
retailers, across categories and throughout the world.

We’ve identified five principles to consider as you look to


use promotions to achieve incremental growth:

#1: PROMOTIONS ARE GOOD FOR


BRAND AND CATEGORY VOLUME
55% of promoted volume is incremental
to the brand. 25% is incremental to the
entire category.

#2: REDUCING THE FREQUENCY OF


PROMOTIONS DURING THE YEAR…
…will lead to brand and category decline.

#3: UPLIFT ONLY OCCURS


IN THE SHORT TERM
Promotions do not have a
long-term effect.

#4: GROWING THROUGH


PROMOTION IS POSSIBLE BY…
• Negotiating more volume with retailers
• Having more promotional events to
drive more penetration
• Optimising the level of incrementality.
The more expandable the category,
the more incremental the promotions.

#5: WHEN IT COMES TO THE


OPTIMISATION OF MECHANICS…
…there are no rules. It depends entirely
on country and category nuances.

At Kantar Worldpanel, we help our clients develop


shopper-centric promotional plans that deliver
incremental growth for brands and retailers alike.

14
AB O UT US

ABOUT US
For more information, please contact

Stéphane Roger,
Global Shopper and Retail Director
stephane.roger@kantarworldpanel.com
+34 93 581 96 62

Or to find a local contact please see


www.kantarworldpanel.com

About Kantar Worldpanel:

Kantar Worldpanel is the global expert


in shoppers’ behaviour. Through continuous
monitoring, advanced analytics and
tailored solutions, Kantar Worldpanel
inspires successful decisions by brand
owners, retailers, market analysts and
government organisations globally.

With over 60 years’ experience, a team


of 3,500, and services covering 60 countries
directly or through partners, Kantar
Worldpanel turns purchase behaviour
into competitive advantage in markets
as diverse as FMCG, impulse products,
fashion, baby, telecommunications and
entertainment, among many others.

Contributors:

Benjamin Cawthray Stéphanie Papin Aude Boscher Heather Li


Global Thought Business Unit and Shopper Director, Senior Analytics
Leadership Director Analyst Director, France Spain Manager, China

Flavia Amado Russell Hill Lilia Valdes Barbara Barbosa


Shopper Director, Solutions Director, Shopper and Retail Shopper Manager,
Latin America United Kingdom Manager, Mexico Brazil

©Kantar Worldpanel. All rights reserved. No


part of this publication may be reproduced for
commercial purposes without the prior consent
of Kantar Worldpanel, except for media usage
and coverage.

15
www.kantarworldpanel.com

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