Price Of Box Of Cereal

Would you pay $13 for a box of cereal?

Full general Mills said on Tuesday that the food company plans to bolster sales by offering a ready-to-swallow 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 toll points, including our new Morning Summit cereal, which has almonds equally a first ingredient and sells for $13 a box," the company'south CEO Jeff Harmening told investors in a conference on Tuesday.

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

The sales toll is function of a strategy to offer "compelling innovation" and "health benefits" that requite consumers a reason to walk down the cereal alley at grocery stores, Harmening said.

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General Mills says pricey cereal will boost sales.

The average price per box of cereal in the U.S. is around $three.27, the nigh recent figures suggest. Walmart is selling a 38 oz. box of Morning Elevation for $26.27, and on Amazon, the cereal volition run Prime members $24.97.

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

Harmening said that the cereal industry saw sales stabilize in 2019 every bit more than people had kids and ate breakfast at dwelling.

To revive cereal fortunes, General Mills is also doubling down on sugary breakfast cereals. The Minneapolis, Minn.-based company launched Hershey'due south Kisses-flavored and Trix Trolls-inspired cereals in recent months.

Follow Dalvin Brown on Twitter: @Dalvin_Brown.

Price Of Box Of Cereal,

Source: https://www.usatoday.com/story/money/2020/02/20/cereal-13-box-general-mills-offers-morning-summit-option/4817525002/#:~:text=The%20average%20price%20per%20box,the%20most%20recent%20figures%20suggest.

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