Photo: ANP
Kit Kat bars, Nescafe coffee and Purina pet food are becoming much more expensive in the supermarket, and as a result the Nestle producer earns much more. The Swiss group does well in passing on the increased costs to the consumer. The emergence of new Garden Gourmet meat substitutes also increased sales in the first nine months of this year.
Nestlé says it can’t keep raising prices, which are up 7.5 percent worldwide from last year, because demand will fall at some point. In Europe, the company has made its food more expensive by about 6 percent, and in the United States more than 11 percent.
Revenues for meat substitutes rose more than 10 percent, as did sweets and water. In August, a vegan version of Kit Kat appeared, in which chocolate is made with rice instead of milk. Nestlé has faced supply chain disruptions in its ability to supply San Pellegrino water. More expensive coffees from Nescafe, Starbucks and Nespresso also produced more.
Total trading volume increased by more than 9 percent in the first nine months of this year to more than 70 billion euros. For this year as a whole, Nestlé expects self-sustaining growth of around 8 percent.
