If General Mills has his way, most important meal of the day Is going to be a lot more expensive.
The Food Company’s plan to revive the sale of grains includes the sale of breakfast food for Rs 13 a pop. Launched late last year, its new morning summit cereal Include Flakes of dried cherries and cranberries, pumpkin seeds and whole grain cereals to entice health-conscious consumers.
As CEO Jeff Harming told New York’s annual Consumer Analyst Group (CAGNY) investor conference on Tuesday: “We’re innovating in new product forms, commanding premium price points, including our new Morning Summit product, which has almonds as the first ingredient and $ Box for 13 sells. “
Conversely, Cheerios, another General Mills breakfast product, can be had for less than four dollars For a family-sized box.
According to Herming, breakfast staples sales stabilized in 2019 after several years of declining US $ 8 billion grain market.
“We believe that improvement in this category has been driven by a combination of our strong performance and some macro and demographic trends, including stabilization of the breakfast balance at home away from home, as well as growth and return numbers. .The children’s home in America, “said the CEO.