谁在“改造”雀巢？

Core Insights - The food and beverage industry is undergoing a deep adjustment as consumer preferences shift from large brands and standardized products to functional, health-oriented, and localized options, leading to a decline in traditional growth strategies [1][10] Company Performance - Nestlé's CEO announced a global layoff plan affecting approximately 16,000 employees, including 12,000 white-collar jobs and 4,000 in production and supply chain roles, as part of a strategy to address declining sales and growth [2][11] - For the first nine months of 2025, Nestlé reported global sales of CHF 65.9 billion, a year-on-year decline of about 1.9%, with an organic growth rate of 3.3%, primarily driven by price increases rather than volume growth [2][6] - The organic growth rate in emerging markets was 5.2%, mainly attributed to pricing, while developed markets saw a lower organic growth rate of 2.1%, indicating a slowdown compared to long-term targets [2][6] Strategic Adjustments - The new CEO emphasized the need for actual internal growth as a primary goal and announced comprehensive measures including personnel optimization, process reengineering, and divesting inefficient businesses [3][11] - Nestlé has restructured its organization from five regions to three, indicating a strategic shift to allocate more resources to faster-growing and more profitable segments such as premium coffee, pet care, and health nutrition [5][11] Market Dynamics - Nestlé's growth is increasingly reliant on price increases rather than volume expansion, with coffee and candy being the strongest performing segments, although their growth is also driven by pricing strategies [6][7] - The pet food segment has shown resilience, achieving an organic growth rate of approximately 1.6%, indicating a stable market demand despite overall challenges [9][11] Consumer Trends - The company faces challenges from changing consumer preferences towards personalization, health consciousness, and emotional value, which are impacting brand loyalty and traditional business models [10][11] - The shift in consumer behavior, particularly in markets like China, where demand for high-sugar and high-fat products is declining, poses significant challenges for Nestlé's traditional product lines [11][13] Future Outlook - Nestlé is in a deep adjustment phase, with the layoffs being just the beginning of a broader strategic overhaul aimed at innovating its business model to align with new consumer demands [11][13] - The company's ability to adapt and innovate in response to market changes will be crucial for its future growth, as traditional strategies are becoming less effective [13][14]