Nestlé’s coffee brands, including Starbucks out-of-home and Nescafé, are selling well globally.
– Sales of Starbucks out-of-home products in North America are growing at a strong double-digit rate, with new customer acquisition and e-commerce momentum.
– There’s strong demand for Starbucks RTD products across Asia and Oceania, with South Korea achieving high single-digit sales growth.
– Nescafé sales in Europe are leading the pack, with mid-single-digit growth, and the recent launch of Nescafé Dolce Gusto Neo paper-based pods in France and Switzerland.
– Nescafé is also performing well in North America, Asia and Oceania, and Latin America, with double-digit growth in the instant coffee range and strong consumer resonance in Brazil.
– Although Nespresso sales dipped slightly, there’s broad-based momentum in sales of its Nespresso Vertuo coffee pod machine and the office-focused Momento machine.
Overall, Nestlé’s total sales for the first nine months of 2023 fell 0.4% to CHF 68.8bn ($76.6bn), but the food and beverage giant still anticipates full-year sales growth above 7%. Looks like coffee is brewing up success for Nestlé!