I'm thinking we are not going to see any reversal of shrinkflation in packaged foods.
Ever.
From Yahoo Finance, January 10:
Frozen food sales are heating up as consumers look to save on their trips to the grocery store.
Conagra Brands, known for frozen foods brands like Bird's Eye, Celeste Pizza, Marie Callender's, and Healthy Choice, among others, reported that net sales for its refrigerated and frozen food segment jumped 10.5% in its fiscal second quarter, which ended November 27th, 2022, to $1.4 billion.
CFO Dave Marberger told Yahoo Finance that consumers haven't changed their COVID-19 eat-at-home habits.
"When COVID started, we had a lot of people that were obviously at home, and we converted a lot of new users to the brand, and that hasn't changed...all those businesses are up double digits, and consumers are enjoying it."
Now, with inflation top of mind, consumers are keeping tabs on the cost of food.
"There's a lot of trade down from eating away from home to eating at home, and frozen food is benefiting from that."
The report specifically noted it gained market share in the frozen single serve meals, plant-based protein, and frozen breakfast categories, moving past the perception that "frozen food is bad" with its flash freeze method, Marberger said in the interview....
....MUCH MORE
