SUNTORY Beverage & Food (formerly Lucozade Ribena Suntory) has reduced the price-point across a number of popular PMPs.
From now, the price point for 600ml Ribena squash and Lucozade Energy 1L format drinks will be reduced to £1.50.
Suntory reckons the change will help it tap into the “continued popularity of price-marked packs” and the growth in sales of “drink-later” formats.
The reduction in PMP pricing coincides with the launch of two new flavours in Suntory’s range of drink-later packs – Lucozade Energy Apple Blast and Ribena Raspberry Rhubarb squash.
According to recent Kantar figures, Lucozade Energy’s 1L format has been going from strength to strength in the independent channel, with sales up 24%, while 67% of Lucozade Energy Apple Blast sales during its launch were incremental to the sports and energy category.
Kantar figures also revealed that squash sales in the independent and symbol channel have almost doubled compared to last year.
Additionally, raspberry flavours have been gaining ground, growing at 10%.
Matt Gouldsmith, director for the wholesale channel at Suntory Beverage & Food said: “With 74% of total soft drink sales coming from price-marked packs, plus a growth of 8% in drink-later formats, a competitively priced drink-later range is essential for retailers.
“The reduced PMPs across our Ribena and Lucozade Energy drink-later range offers a lower everyday price to consumers – at a time when many shoppers will be looking for increased value from their regular purchases.
“Now is the perfect time for retailers to capitalise on the popularity of the drink later format with a new reduced price-marked pack.”