General Mills' plan to revive breakfast sales? A cereal costing $13

Ok...good luck?
Author:
Publish date:
General Mills morning summit

General Mills is pinning its hopes on a premium product boosting its cereal sales: a fruit cereal that costs a whopping $13 a box.

The Golden Valley company launched Morning Summit cereal late last night, but it has been making headlines this week since it was mentioned during a conference call with investors on Tuesday.

It comes after 2019 saw the years-long downturn in the cereal market come to an end, with sales remaining flat, according to CNBC. Now, food giants are looking to turn that into an upswing.

"We’re innovating in new product forms that command premium price points, including our new Morning Summit product, which has almonds as the first ingredient and sells for $13 a box," Harmening said.

$13 for a box of cereal? Many struggle to justify spending $4 for a box given the speed at which it disappears.

But General Mills is banking on Morning Summit attracting health-conscious customers. (Wealthy, too, we imagine.)

Sign up for our BREAKING NEWS newsletters

At 38.5 oz per box, it's significantly weightier than most breakfast cereals, with the primary ingredient being almonds.

The almonds are joined by cereal flakes made with whole grains (providing 1/3 of daily recommended amount), dried cherries, dried cranberries, and pumpkin seeds. 

Given General Mills has been responsible for some of the most popular breakfast cereals in history, you wouldn't bet against them making a success of Morning Summit.

But given the price is the same as a gourmet burger at many a Twin Cities restaurant, it's set itself quite the challenge.

Next Up

Cam Talbot

Wild improve to 4-1 with victory over Dubnyk, Sharks

The 4-1 win gives the Wild four victories in five games to start the season.

Screen Shot 2021-01-22 at 9.08.16 PM

Daughter of MN Supreme Court Justice, Allina Health CEO found dead in Iowa

The 21-year-old was found dead in the parking lot of a sorority, according to police.

Screen Shot 2020-09-04 at 8.42.40 PM

Federal charges: MN marijuana lobbyist threatened U.S. representative

"I want you to be as scared as possible," the voicemail allegedly says.

coronavirus, masks, covid-19

Wisconsin Republicans aim to end governor's mask mandate

They've introduced a resolution to remove the governor's emergency powers.

Ted Schweich

Community group hopes to install billboard to get neighbor a kidney

A group called "Team Ted" aims to raise $5,000 to find their friend a kidney donor.

Andrew Palmer

Charges: Coach raped teenage girl on Minnesota basketball team

The 33-year-old head coach has been charged in connection to the alleged crimes.

radio station, microphone

WCCO Radio's program director leaves the company

It's not clear why John Hanson and the station parted ways.

Minneapolis skyline

Minneapolis a step closer to banning facial recognition technology

There are concerns about it leading to a surveillance state, and that it could harm disadvantaged communities.

covid-19, coronavirus, PPE

Here is Minnesota's COVID-19 update for Friday, January 22

Nearly 50,000 Minnesotans have received both doses of the COVID-19 vaccine.

Related

Row_of_Cereals

Gallery: General Mills is releasing 16 new cereals

The new kinds include new flavors of Cheerios to Keto-friendly options.

general mills cereal

General Mills re-releases 4 popular cereals with classic 1980s recipes

o celebrate, there's a classic cartoon drive-in event for people to enjoy while they eat their cereal.

General Mills to cut sugar, salt in breakfast cereals

Minnesota-based General Mills and Nestlé SA will cut sugar and salt in the children's breakfast cereals they jointly market outside North America, which is the latest attempt by major food companies to respond to health concerns, Reuters reports.