The company said its key goal is to be the number one contributor in driving category growth in travel retail.
As part of its ambitious plan, MWITR will focus on three key strategies to unlock traveller conversion: the company’s overarching themes for returning to pre-pandemic growth rates during 2022 and 2023 will be to further develop its sharing and gifting offer; be a leader in the market for creating fun and memorable travel experiences; and accelerate impulse at the checkout and beyond.
In a post-Covid-19 retail environment, MWITR said it will be even more important to focus on impulse points along the shopper journey – both at the checkout but also beyond the point of purchase. For this reason, the company will leverage its complete portfolio to trigger impulse needs and increase touch-points in-store with cross-category impulse displays.
Through a pyramid structure, the company has identified how its core product range accounts for 80% of total category sales; this is followed by regional jewels in key markets, with limited editions and NPD innovations at the top of the strategic growth pyramid.
Raghav Rekhi, Category Director MWITR, said: “This year at Cannes, we are delighted to have the opportunity to reunite with our customers and re-engage with the travel retail industry after a prolonged period of disruption. We are returning with a clear three-pronged strategy to unlock traveller conversion - from growing our sharing and gifting segments to building on our reputation for creating fun and memorable travel experiences to accelerating opportunities for impulse at the checkout and beyond.”
Within the sharing category, MWITR will be launching four new SKUs for 2022: these include two new tablets – one is a new permanent item (Hazelnut) and the other is a Limited Edition - both represent the company’s belief that there is clear headspace for growth in tablets in ITR.
Further Limited Edition launches will come from a large size pouch launch and a debut bars pouch product launch. Rekhi said that Limited Editions have worked very well for MWITR in the last few years, adding value to the category, driving incremental growth and adding whole range benefits.
Gifting is also a continued growth focus for MWITR in 2022 and this year in Cannes, the company will unveil a completely new premium gifting range in an innovative packaging format that travellers have confirmed they are looking for.
MWITR said it will also provide an update on its latest sustainability initiatives that are dedicated to the travel retail market. These fall under three pillars: more responsible products; more responsible packaging; more responsible display and activation in ITR.
“Furthermore, Mars is strongly committed to addressing significant environmental and social challenges facing our planet. Mirroring our commitment to driving category growth in travel retail is our pledge to being more responsible for our environment as well. We look forward to updating our customers, partners and trade press on how we are implementing our ‘Sustainable in a Generation Plan’,” said Rekhi.