Tupperware has lost its edge to rivals making cheaper, hipper and more environmentally friendly containers
Shares touched a three-year low of US$1.21 on Monday. The Orlando, Florida-based company said it was looking at ways to “right-size” and monetize fixed assets.
Even amid a rise in home cooking and associated kitchen gadgets during the pandemic, “the main problem for Tupperware is that there are lot more competing brands that shoppers can select from,” said Neil Saunders, managing director at GlobalData. In 2022, Rubbermaid gained market share in each of its subcategories, Saligram said. Newell Brands has a market cap of US$5.2 billion compared with Tupperware’s US$112.6 million.
Hitha Herzog, chief retail analyst for H Squared Research, said Tupperware’s challenges in appealing to younger consumers also hurt the brand’s ability to raise revenue. And Tupperware was slow to pivot from its direct sales force, largely made up of women who sold products at parties.
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