When times get tight and money is short, people resort to things that they may not have considered before.
Like having cereal for dinner.
I've done it, and I bet some of you have too.
For Kellogg's CEO Gary Pilnick, the concept tastes like opportunity. Pilnick describes us as consumers under pressure.
Gary Pilnick: You think about the cost of cereal for a family versus what they might otherwise do, that's going to be much more affordable.
CNBC’s Carl Quintana: I'm all for innovation and marketing, but the idea of having cereal for dinner, is there the potential for that to land the wrong way?
Gary Pilnick: We don't think so. In fact, it's landing really well right now, Carl.
When we look at all of our data, of course we would know that breakfast cereal is the number one choice for in-home consumption. We understand that for breakfast. It turns out that over 25% of our consumption is outside the breakfast occasion. A lot of it's at dinner, and that occasion continues to grow.
Clearly, Pilnick didn't care to ask why people are choosing to eat cereal for dinner more.
Could it be sky-high inflation?
What about the highest food prices in three decades?
What about stagnant wages or record credit card debt?
And that's just off the top of my head.
The only two words I could think to describe this strategy are
Tone Deaf.
What are you thinking? Why are more people eating cereal for dinner? Tell me in the comments and support my work at jamesbrowntv.substack.com or email me at jamesbrowntv@gmail.com.
You can also leave me a message at 585-484-0339.
On that note, I'm James Brown, and as always, be well.
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