Blame it on rising corn prices or blame it on the embalming fluid, either way, say goodbye to Kellogg’s Corn Pops cereal.
In a category of food that produced over $600 million in revenue last year, Corn Pops only made $74 million, an 18% decrease since the year prior. The breakfast food that is advertised as being “crispy, glazed, crunchy, sweet,” can no longer compete with its peers. Cereals like Cheerios and Frosted Flakes made over $200 million last year.
Not only are big name cereals beating out Corn Pops but the sales of private brands have impacted totals.
Some have argued that the recent price hikes in corn are the culprits behind the demise of this long standing brand. There is some validity to that claim. However, one has to wonder if it’s the ingredients of the cereal that have really lead to the poor sales. Sure, the cereal is “crispy, glazed, crunchy, sweet” but what makes it so?
(more…)
