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October 22, 2020: 12:00 AM EST
The Swiss multinational says e-commerce sales, driven by COVID-19, increased 48 percent over the first nine months of the fiscal year to reach 12.3 percent of total company sales, up from 8.5 percent in the same time of the previous year. CEO Ulf Mark Schneider said the results indicate that Nestlé is “coming of age” in the digital era of food and beverage, thanks mostly to health concerns brought on by the pandemic. Out-of-home sales, which accounted for about 10 percent of total Nestlé sales before COVID-19, decreased 31 percent. The slide moderated to 26 percent in the third quarter from 55 percent in the second quarter. CFO Francois-Xavier Roger, noting that coffee, pet care, nutrition, and water are most suited to online buying, said Nestlé’s online sales are largely from the U.S., the U.K., France, Germany, China, and Japan. Nestlé also upgraded its fiscal-year guidance to about three percent organic sales growth from about two percent.
Jeff Gelski, "Nestlé’s e-commerce sales now make up 12 percent of total sales", Food Business News, October 22, 2020, © SOSLAND PUBLISHING COMPANY
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