Strauss Group Ltd. (TASE:STRS), Israel's second largest food manufacturer and the market leader in many categories of sweets, is changing direction by lowering both the price and caloric content of its sugar-free chocolate bars.
Sources inform "Globes" that Strauss is cutting the price of its sugar-free chocolate by 15%, while reducing the caloric content of its current product by 25%.
In recent months, Strauss's confectionary division has launched several sugar-free products, including Petit Beurre biscuits, and is introducing a mini-Pesek Zman chocolate snack. The company will now begin marketing sugar-free chocolate bars in various flavors, among other things in an attempt to halt last year's decline in sales in this category.
Strauss confectionary division CEO Itai Englander, who recently took up his position, says, "We decided to enter this market in a more formal way, and we have assembled a basket of sugar-free products. We are also appealing to the diabetic community. We looked at the pricing and discovered that we can lower the price."
Published by Globes [online], Israel business news - www.globes-online.com - on May 7, 2018
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