According to Post Consumer Brand’s Malt-O-Meal, 71% of Americans are more likely to shop on a budget now than prior to the pandemic, with parents being 21% more likely than non-parents.
There are two factors, however, that have remained unchanged when it comes to shopping for groceries. Price, of course, has always been important – and even more so in today’s economic crisis – but pipping that on the priority stakes is quality. So, it’s not surprising that Malt-O-Meal’s survey found 69% of consumers gravitate toward value brands.
The brand commissioned the survey to coincide with the roll-out of new branding and packaging for its bagged cereals.
It claims the cereals still rock ‘the same great taste’, but now sport a fun, colourful look – all at a price that will lift the hearts of any cash-strapped consumer.
Breakfast cereals are typically considered as a boxed product, but here again the survey responses found people are almost as likely to purchase bagged cereal (68%) as they are to opt for a boxed option (78%).
Now more important than ever
“Our survey found that cold cereal is the number one choice for breakfast during busy mornings,” said Mike Porter, brand director for Malt-O-Meal.
“Malt-O-Meal has always been committed to providing top-quality cereal at an affordable price per serving. We know that this is more important than ever right now as shoppers and their families strive to start their mornings with a convenient breakfast while keeping a close eye on the budget.”
The survey found that prior to the pandemic, 23% of Americans spent at least $100 on weekly groceries. This percentage rose to 31% during lockdown, but remains high today with spiking grocery prices. To help save money on their weekly grocery bills, the top tactics employed are purchasing value brands (53%), shopping from a sales flyer (45%) and using a store rewards app (43%).
The Malt-O-Meal brand includes 36 flavours of ready-to-eat (RTE) cereals, with varieties like Frosted Mini Spooners, Cinnamon Toasters and Fruity Dyno-Bites coming in among the 40 top sellers of the category. A majority of its cereals are packed in re-sealable bags, which appeal to eco-conscious consumers as there is less packaging than traditional bag-in-box cereal.
To remain affordable, the brand says it forgoes national ad campaigns in favour of dedicating their resources to producing high-quality products at a low price per ounce. The cereal are available at grocery stores nationwide.
