Chang beer’s mother or father company, Chang International Co., is eyeing the mass-premium beer market to broaden its catalogue and income. The company announced plans to speculate 1 billion baht to develop its beer business and strengthen its portfolio with Chang Cold Brew.
With the pandemic easing, the economic system coming back, and tourism blooming, individuals are spending extra on booze. Chang is putting while the iron is scorching and pushing Chang Cold Brew.
Chang Cold Brew, its beer within the mass-premium category, was introduced to the market in 2019 and garnered a beneficial reception from its prospects. Despite being predominantly obtainable in upscale restaurants and trendy trade shops, the company intends to broaden its customer reach by concentrating on distributing Chang Cold Brew by way of typical trade channels.
The goal of the company is to ascertain a distinctive brand identification for Chang Cold Brew. Extraordinary -premium beer market in Thailand is value 25 billion baht, about 12.5% of the overall beer market. They goal to broaden their consumer base and encourage extra consuming occasions by launching new merchandise with creative packaging.
Lester Tan, the senior vice president and head of the beer enterprise, stated that the advertising price range will prioritise conventional commerce methods, channels, and innovation. The company seems to be recognizing that people are consuming on extra than simply particular events. Tan said…
“This can also be a nod in course of the rising development in various ingesting occasions; not solely are consumers drinking at special celebratory occasions but additionally when spending time to relax out or share good instances collectively.”
The exciting new packaging is predicted to be launched in the fourth quarter of 2023. Chang Cold Brew additionally aims to advertise its product by way of music concert events throughout the year in Thailand and abroad.
Chang Cold Brew goals to extend its sales contribution to 15% of the general Chang beer portfolio this yr. The mass-premium beer section had sturdy development potential in 2022, with a market value of 25 billion baht and an annual development price of 10%.
According to Tan, 80% of all beer is sold via conventional commerce channels and the remainder is via modern commerce channels. So the corporate plans to concentrate on conventional trade channels and innovation to widen its shopper base..