You snooze, you lose: How Super Group is losing the coffee war in Singapore

Singapore sales droppped by 11%.

Super Group's great horned Owl is clipping its wings as business in Singapore takes an ugly flight. CIMB noted that in Singapore, Super Group recorded an 11% sales decline due to the transition of the cereal business and real loss of coffee market share for its Owl brand. CIMB noted that the broad picture is one that shows slowing consumption across markets.

Here's more:

In Singapore, although the decline was partly due to the transition in the branding of its cereal products, coffee competition i.e. the loss of Super’s combined brands’ market share, is the other main concern for us. 

Branded consumer (BC) sales used to grow 9-11% in the past three years. 1Q BC sales fell 6% yoy and this is a big red flag. The biggest markets are now in this order: Thailand, Myanmar, Malaysia, China, Singapore and the Philippines. China has climbed up to No. 4 not because it is firing all cylinders, but because Singapore has turned a lot softer. Malaysia, China and the Philippines all saw flat-to-rising sales growth, but this was dragged down by declines in Thailand, Myanmar and Singapore.