Cereal for $13 a box? General Mills offers Morning Summit option

Cereal for $13 a box? General Mills offers Morning Summit option

[ad_1]

Would you pay $13 for a box of cereal?

General Mills said on Tuesday that the food company plans to bolster sales by offering a ready-to-eat breakfast meal complete with real maple berries, dried cherries and almonds. The catch: A box is priced at more than double the cost of an average box of cereal in the U.S.

“We’re innovating in new product forms that command premium price points, including our new Morning Summit cereal, which has almonds as a first ingredient and sells for $13 a box,” the company’s CEO Jeff Harmening told investors in a conference on Tuesday. 

The cereal aimed at health-conscious consumers also contains organic coconut oil and pumpkin seeds. For sweetness, General Mills added dried sugary cranberries and dried cherries to the blend.

The sales price is part of a strategy to offer “compelling innovation” and “health benefits” that give consumers a reason to walk down the cereal aisle at grocery stores, Harmening said.

Fried Chicken Crocs:KFC and Crocs set out to ‘make your dreams of wearing a bucket of chicken’ come true

General Mills says pricey cereal will boost sales.

The average price per box of cereal in the U.S. is around $3.27, the most recent figures suggest. Walmart is selling a 38 oz. box of Morning Summit for $26.27, and on Amazon, the cereal will run Prime members $24.97.

Millennials have been accused in the past of killing off breakfast cereals as they shifted toward eating on the go and focusing on nutrition. In 2015, almost 40% of the millennials surveyed by Mintel said cereal was an inconvenient breakfast option because they had to clean up after eating it.

[ad_2]

Source link

Published
Categorized as Top Stories

By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.