Sunshine snack maker cuts prices
The distributors of Sunshine snacks, Confectionery & Snacks Jamaica Limited, based in Portmore, have cut prices to match the declining spending power of the Jamaican consumer, according to Brand Manager Jermaine Matthews.
The price adjustment is not a signal of falling sales, Matthews insisted.
"We are doing it for the sake of consumers. Even though it remains one of the best-selling brands, overall in terms of the economy and their salary things are static," he said. "We did a price reduction on 90 per cent of our range," he added.
The price adjustments on individual Sunshine snacks ranged between $5 and $20.
In its best-selling line, which is nuts, the 34 gramme cashew nuts now sells for $150, down from $170, while the 60 gramme Peanut Mani now retails for $60, down from $85.
Among cheese snacks, the second most lucrative line, the popular Cheez Zees now sells for $50, down from $55 for the 45g packet.
Confectionery & Snacks distributes snacks, cereals, Devon biscuits, and Charles Chocolates on behalf of Trinidadian parent company Associated Brands Industries Limited, ABIL.
Matthews says that Sunshine Snacks is the biggest earner for Confectionery & Snacks, accounting for more than 50 per cent of revenue followed by chocolates. Peanuts accounts for 65 to 70 per cent of sales in the snack portfolio.
But as to how the top sellers in the Sunshine portfolio, inclusive of cheese products, stack up against other snack brands, Matthews said it was hard to estimate as the market was continuously in flux, with new players always entering the business.
ABIL owns a 50,000-square foot building in Portmore, which houses Confectionery & Snacks, and serves as the Trinidad company's main distribution centre in Jamaica. It has another distribution depot in Montego Bay to serve the western part of the island. Shipments are made from Trinidad directly to both depots.
ABIL's operations are divided along four divisions: Charles Candy, Sunshine Snacks, Consolidated Biscuits, and Universal Foods. The company's manufacturing facilities are all located in Trinidad, with distribution outlets in Jamaica, Barbados, and St Lucia, and its products are sold in 20 countries worldwide.