Salada doubles down on flavours
Published:Friday | December 23, 2022 | 12:44 AM
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Buoyed by market reception to its flavoured coffees, Salada Foods Jamaica is looking for new ways to titillate the taste buds. In May, the instant coffee processor launched a flavoured line, which includes coconut, cappuccino, cinnameg and caramel...
Buoyed by market reception to its flavoured coffees, Salada Foods Jamaica is looking for new ways to titillate the taste buds.
In May, the instant coffee processor launched a flavoured line, which includes coconut, cappuccino, cinnameg and caramel, with positive sales results, according to Salada General Manager Tamii Brown.
The innovations and other market developments boosted Salada’s annual turnover to a new record of over $1.3 billion.
“Our research indicated that our consumers, seeking to occasionally treat themselves, were open to rich flavours and a new sensory experience,” Brown told the Financial Gleaner.
Working with several focus groups, Salada, which is the producer of the Jamaica Mountain Peak and Mountain Bliss 876 instant coffee brands, developed the variations in line with consumer tastes.
“In a way, it is our consumers that created our flavoured line, which they now enjoy,” the GM added.
Salada is presently doing another round of R&D and testings ahead of rolling out new products in 2023.
Over the year ended September, Salada grew its annual sales revenue by 12 per cent, from $1.19 billion to $1.34 billion. Jamaica sales grew by nearly 16 per cent and export sales by 6.4 per cent, according to the company.
Salada realised net profit of $175 million, its best showing since 2018, and up from $157 million in 2021.
“The boost in revenues was the result of multilayered strategies, such as the successful introduction of the flavoured coffee line in the domestic market and further development of the Canadian market, as well as expansion in the Caribbean,” Brown said.
Jamaica accounted for $1.05 billion of local sales, while foreign markets delivered $283 million.
“We remain pleased with the warm reception to our products in the diaspora markets, particularly the rebound in our Canadian markets and improved exports to other Caribbean territories,” Brown said.
Domestically, the products are distributed through Lasco Distributors Limited, a partnership that the Salada GM described as solid.