As consumers turn to fresher foods as well as cheaper store brands, some of the biggest food companies are struggling: Kellogg’s, Hamburger Helper, Chef Boyardee and more. Shoppers with more money are buying fresh, organic foods, while lower-income consumers are opting for cheaper store brands. What will happen to classic brands now that shoppers have thousands more options?
In one example, Hamburger Helper sales have declined from 61 percent of dinner mixes in the U.S. in 2007 to 40 percent in 2016, according to a Wall Street Journal report. Glenn Beck and the guys couldn’t believe these classic childhood favorites were in trouble on Friday’s “The Glenn Beck Radio Program.”
Kellogg’s cereal, Aunt Jemima pancake mix and other brand giants brought affordable, tasty food with a stable shelf life to American families. But today’s health-conscious customers prefer to cook with fresh ingredients to avoid processed foods, while shoppers who want cheaper options can get the same effect with store brands that cost less.
Big brands were also slow to jump on new food trends. Up-and-comer Chobani took market share from Yoplait, a General Mills brand, because it offered Greek-style yogurt to consumers first. Some companies are trying to innovate by using natural ingredients and cutting back on artificial dyes, but they may be too late.
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