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Innovation Helping General Mills Advance In An Improving Cereal Market

February 20, 2020: 12:00 AM EST
Successful cereal innovations are helping General Mills grow and take market share. In the first half of fiscal 2020 the company had five of the top six cereal launches in the United States and it continues with new launches. It has introduced Trix Trolls cereal and is experimenting with premium products such as its Morning Summit cereal that has almonds as a first ingredient and retails for $13 a box in the club channel. CEO Jeffrey L. Harmening said its fiscal year-to-date retail sales were up 2% on the back of “innovation, great marketing and excellent in-store execution”. He pointed to compelling marketing ideas such as its Cheerios heart health campaign and Cinnamon Toast Crunch’s Cinnaverse campaign as examples of combining meaningful innovation with smart marketing. In broader comments, Harmening believes the US cereal market is improving and no longer declining, supported by improving macro and demographic trends with a return to growth in the number of households with kids and a stabilization in breakfast eaten-at-home versus away-from-home.
"General Mills cereal strategy centered on compelling innovation", February 20, 2020
North America
United States of America
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