General Mills is Selling $26 Cereal! Would You Cop?
General Mills is Selling $13 Cereal! Would You Cop?
Can you put a price on goodness? Well, General Mills is banking on consumers shelling out $13 -$26 for a box of cereal.
The cereal baron recently announced their plans to roll out a ready-to-eat breakfast meal with real dried cherries, almonds and maple berries. The price for all this “goodness” will be more than double of the average price of a cereal box.
“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.
General Mills is hoping that the hard-core health conscious consumers will be attracted to the raw ingredients which also includes organic coconut oil and pumpkin seeds and dried sugary cranberries.
The current average price of a box of cereal in the U.S. is around $3.27. Walmart is selling a 38 oz. box of Morning Summit for $26.27, and on Amazon, the cereal will run Prime members $24.97.
According to a 2015 survey by Mintel, almost 40% of the millennials said cereal was an inconvenient breakfast option because they had to clean up after eating it. Perhaps those 40% also have the disposable income to spring for this pricey breakfast option.
