Executives at Nestle and Unilever say they have seen billions in savings after ditching the laggards in their product portfolios.
said they have seen billions in savings after ditching the laggards in their product portfolios.
Eliminating less popular products is part of a “decomplexity program” underway at Kraft Heinz, its executives said at the Consumer Analyst Group of New York Conference. It recently discontinued Heinz Real Mayonnaise. “We sometimes have the tendency to launch a lot of things because they are exciting but we need to be very rigorous,” Renaud said. As Mondelez adds products with different price points, it adds complexity, he added. “I am a big advocate of simplicity.”
Nestle said cutting products saved 1 billion Swiss francs last year , while Unilever said the practice saved $2 billion. Kellogg ditched its line of Special K protein shakes and Nestle axed Lean Cuisine paninis, frozen Sweet Earth Benevolent Bacon, and Sweet Earth Vegan Hot Dogs, spokespeople for the companies confirmed.In some cases, suppliers are bowing to retailer plans to reduce inventory, hoping that cutting product lines will make stores more efficient and less costly to run and stock.
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