Why chocolate brand Terry’s is going ‘beyond orange’ in pursuit of growth
Terry’s is experimenting with new products and different category entry points to chase growth – even if that means dropping its iconic orange flavour.
It’s pretty rare for a brand to diversify by introducing a product most of the category already has. But that is exactly what chocolate company Terry’s has chosen to do. What’s the exciting new flavour? Just plain milk chocolate.
It might sound a little bonkers, but there’s logic behind it. Terry’s – as most will know – is famous for its iconic ‘Chocolate Orange’, which has been a smashing success for the better part of a century. But according to senior marketing manager Lorène Decam, despite having a brand awareness score that consistently hovers around 80%, the brand has only managed to secure a market share of 1.5%.
“We have a huge brand love,” she explains. “But there is a huge discrepancy between this love and the market share of the brand.”
