4 - Refresco.de
4 - Refresco.de 4 - Refresco.de
Market review 2009 Consumer trends In recent years there has been a consumer tendency towards more healthy food, convenience, indulgence and ethics. These drive new innovations and have caused an amalgamation of traditional segments, such as juices, soft drinks and water into new concepts, such as still drinks. These trends are still visible, even in the recent recession. The economic downturn accelerated a fifth trend, already distinguished in the previous years: value for money. First, consumers recognize a connection between healthy food & drinks and their well-being. The increasing incidence of overweight and obesity in the Western world is making people ever more conscious of the necessity to nourish their bodies in a healthy way. They are willing to pay more attention to the food they eat and the beverages they drink in order to help them improve their quality of life. CSDs have suffered from this shift which drives the amalgamation of traditional segments. Instead of CSDs, people now choose lighter flavored waters or fruit drinks. This trend is also responsible for the rise in consumption of fresh pressed Not From Concentrate (NFC) juices. Anticipating this trend, Refresco is investing in backward integration in orange juice, in Spain for instance. HEALTH & WELLNESS (diet, nutrition) CONVENIENCE (lifestyle) Another way in which Refresco contributes to the health trend is by succeeding in developing a new CSD without any preservatives by using a new aseptic technology. Second, the convenience market is growing because people are eating out more and eating fast food to make time for more leisure activities to counter their busy lifestyles. Third, we see an upward trend in the demand for premium products, however small they may be, as a result of growing affluence. Even in times of economic downturn people like to indulge or treat themselves. Instead of expensive presents, people now turn to smaller luxury goods, and that causes a shift to premium-priced, value-added products such as fruit juice smoothies and functional drinks. Fourth, ethical retailing – and environmental issues (climate change, recycling, etc.) are gaining ground on the consumer agenda. Factors underlining that this trend is growing are: the proliferation of local recycling schemes, and pilot recycling programs that will charge on the basis of waste quantity. But this trend is not yet booming. VALUE FOR MONEY PREMIUM (indulgence) ETHICS (sustainability, sourcing)
These trends create constant demand for innovation and diversification. With laboratories at multiple Refresco production sites, Refresco cooperates with customers to develop new concepts that fit in with market trends and needs. This requires an understanding of the specific market, the needs of the consumer, and the ability to respond to market trends at the right time and place. When it comes to developing new products, Refresco succeeds because of its crucial rapid time-to-market. Fifth, a clear trend that overlaps all other trends is that consumers choose value for money. On the one hand, consumers are upgrading to premium products, and on the other, they choose value for money, something they can find in private label products. It also accelerated the trend that had already begun from a health perspective -- from (100%) juices to typically lowercalorie and lower-priced fruit drinks and flavored waters (containing less fruit). In 2009 we saw a continuing trend of steadily declining consumer confidence, already started in the second half of 2008 as a result of the economic downturn. The economic climate has had its consequences for the soft drink & juice market. On the one hand, consumers took a step back in their spending patterns, and sought alternative value-for-money products, which they found in private label products. On the other hand, as high-end expenses such as cars and luxury goods were being reconsidered or rejected, people still liked to indulge themselves with small premium treats. As we estimated, strong A-brands with clear brand equity have been able to keep their good positions. By producing a complete and diverse portfolio Refresco can accommodate the wishes of its customers, no matter what consumers choose. page _ 44 / 45
- Page 1 and 2: 2009 annual report
- Page 3 and 4: 2009 annual report
- Page 5 and 6: Contents Highlights 2009 6 Refresco
- Page 7 and 8: 2009 Our strategic achievements Str
- Page 9 and 10: Refresco at a glance
- Page 11 and 12: Our locations in europe 1 The Nethe
- Page 13 and 14: 606,001 Acquisition of Refresco by
- Page 15 and 16: ecome Europe’s No. 1 manufacturer
- Page 17 and 18: Strategic development Since its fou
- Page 19 and 20: To expand our juice business in Spa
- Page 21 and 22: 2009 revenue A focused, well-balanc
- Page 23 and 24: Risks related to price fluctuations
- Page 25 and 26: page _ 24 / 25
- Page 27 and 28: Supervisory Board The Supervisory B
- Page 29 and 30: Composition of the Supervisory Boar
- Page 31 and 32: to the British Retail Consortium (B
- Page 33 and 34: “In 2009 Refresco business units
- Page 35 and 36: “We have a continuous search for
- Page 37 and 38: in liters increased by 8% to 3.4 bi
- Page 39 and 40: high quality and on an ambitious gr
- Page 41 and 42: of its customers, no matter what co
- Page 43: 160.000 140.000 120.000 100.000 80.
- Page 47 and 48: The surrounding countries, Germany
- Page 49 and 50: for retailers developing private la
- Page 51 and 52: A-brands and private label to keep
- Page 53 and 54: manufacturers taking up product dev
- Page 55 and 56: is in driving ‘values’ as well
- Page 57 and 58: How do you see the future for priva
- Page 59: enabling consumers to acquire quali
- Page 62 and 63: financial review 2009 Business is n
- Page 64 and 65: Financial review 2009 Consolidated
- Page 66 and 67: Financial review 2009 Consolidated
- Page 68 and 69: Financial review 2009 Consolidated
- Page 70 and 71: Financial review 2009 Transactions
- Page 72 and 73: Financial review 2009 2.6 Intangibl
- Page 74 and 75: Financial review 2009 to the Group,
- Page 76 and 77: Financial review 2009 if there is a
- Page 78 and 79: Financial review 2009 concentration
- Page 80 and 81: Financial review 2009 EUR’000 DEP
- Page 82 and 83: Financial review 2009 4.2 Intangibl
- Page 84 and 85: Financial review 2009 4.3 Other inv
- Page 86 and 87: Financial review 2009 Tax losses ca
- Page 88 and 89: Financial review 2009 Non-current l
- Page 90 and 91: Financial review 2009 4.11 Employee
- Page 92 and 93: Financial review 2009 Expenses reco
These trends create constant <strong>de</strong>mand for innovation and<br />
diversification. With laboratories at multiple <strong>Refresco</strong><br />
production sites, <strong>Refresco</strong> cooperates with customers to<br />
<strong>de</strong>velop new concepts that fit in with market trends and<br />
needs. This requires an un<strong>de</strong>rstanding of the specific market,<br />
the needs of the consumer, and the ability to respond to<br />
market trends at the right time and place. When it comes to<br />
<strong>de</strong>veloping new products, <strong>Refresco</strong> succeeds because of its<br />
crucial rapid time-to-market.<br />
Fifth, a clear trend that overlaps all other trends is that<br />
consumers choose value for money. On the one hand,<br />
consumers are upgrading to premium products, and on<br />
the other, they choose value for money, something they<br />
can find in private label products. It also accelerated<br />
the trend that had already begun from a health<br />
perspective -- from (100%) juices to typically lowercalorie<br />
and lower-priced fruit drinks and flavored<br />
waters (containing less fruit).<br />
In 2009 we saw a continuing trend of steadily<br />
<strong>de</strong>clining consumer confi<strong>de</strong>nce, already started<br />
in the second half of 2008 as a result of the<br />
economic downturn. The economic climate has had its<br />
consequences for the soft drink & juice market. On the<br />
one hand, consumers took a step back in their spending<br />
patterns, and sought alternative value-for-money products,<br />
which they found in private label products. On the other hand,<br />
as high-end expenses such as cars and luxury goods were<br />
being reconsi<strong>de</strong>red or rejected, people still liked to indulge<br />
themselves with small premium treats. As we estimated, strong<br />
A-brands with clear brand equity have been able to keep their<br />
good positions. By producing a complete and diverse portfolio<br />
<strong>Refresco</strong> can accommodate the wishes of its customers, no<br />
matter what consumers choose.<br />
page _ 44 / 45
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