Mondelez International Inc.’s
finance chief is reallocating funds to boost the snack maker’s marketing, and the company for the first time will spend the majority of its advertising dollars on digital channels instead of on television commercials.
The Chicago, Ill.-based food manufacturer, which owns the Oreo cookie, Cadbury chocolate and Ritz cracker brands, cut its marketing spending at the start of the coronavirus pandemic to bring down costs. Now, Mondelez is reversing course, aiming to hold on to recent sales gains in North America and stimulate demand in other markets, Chief Financial Officer Luca Zaramella said.
Sales in North America rose 17.3% in the second quarter from a year earlier to $2.02 billion. Revenue in developed markets overall grew in the second quarter from a year earlier, by 5.4%. By