According to new survey data of 2,000 respondents in the U.S. released by Lakeville, Minnesota-based Malt-O-Meal, seven in 10 people are more likely to shop on a budget now than prior to the pandemic, with parents being 21 percent more likely than non-parents.
The top two factors that consumers prioritize when shopping for groceries right now are quality (34 percent) and price (30 percent). Sixty-nine percent of consumers gravitate toward value brands as they look for products that fit the bill.
Malt-O-Meal releases these insights as it launches new branding and packaging for its bagged cereals. The cereals feature the same taste with a colorful new look. Though cereal is traditionally thought of as a boxed product, responses show that people are almost as likely to purchase bagged cereal (68 percent) as they are to opt for a boxed option (78 percent).
“Our survey found that cold cereal is the No. 1 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 percent of Americans spent at least $100 on weekly groceries; now that percentage has risen to 31 percent as people continue to eat more meals at home and grocery prices have risen. To help save money on their weekly grocery bills, the top tactics shoppers have used are purchasing food from value brands (53 percent), shopping using a sales flyer (45 percent) and using a store rewards app (43 percent).
The Malt-O-Meal brand includes 36 flavors of ready-to-eat cereals with varieties, like Frosted Mini Spooners, Cinnamon Toasters and Fruity Dyno-Bites earning spots in the top 40 selling RTE cereal in terms of pounds sold. A majority of its cereals are packed in resealable bags, which means there is less packaging than traditional bag-in-box cereal.
For more information, visit maltomeal.com.