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Your bowl spoon may be ready to pour yourself a generous helping to celebrate, but may not be ready for this news.
Customers are going to have to open up their wallet if they want to test out General Mills’ newest cereal, Morning Summit, which costs upwards of $13 for a 38-ounce box.
In fact, the cereal is listed at approximately $27 a box at Walmart and on Amazon for as high as $34 each.
The average box of cereal costs $3.27.
Morning Summit cereal contains dried cherries and cranberries, pumpkin seeds and whole-grain cereal flakes to entice health-conscious consumers.
The healthy array of ingredients -- coupled with the pricey cost -- are seen as an attempt to revive the declining demand for cereals as many consumers have switched to other, non-traditional options for breakfast.
“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,” General Mills chairman and CEO Jeff Harmening reportedly told investors at a conference this week.
“Our strategy to drive compelling cereal growth is centered on launching compelling innovation that offers taste, convenience, and health benefits while investing in brand building that engages consumers and gives them a reason to walk down the aisle.”
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