Hamburger Helper Sales Rise as Americans Try to Stretch Their Food Dollars
The price of beef and other grocery items are climbing, and consumers are turning to canned meats and a 1970s staple
While most food companies are seeing declines in consumer demand for their products, sales of Hamburger Helper are up 14.5 percent in the year through August, getting an extra bump from its appearance on an episode of “The Bear” in June, according to the company that owns the brand, Eagle Foods.
And it’s not just Hamburger Helper. Sales of foods commonly purchased by consumers when financial times get tough are on the rise, according to industry analysts. Purchases of rice are up 7.5 percent this year. Distressed shoppers are also buying more cans of tuna, salmon and sardines. Sales of beans and boxes of macaroni and cheese are also strong, based on data from the research firm Circana.
Uncertainty about the economy and higher tariffs levied on goods from a variety of countries have led many consumers to refocus their spending on essentials or items that are good values, while cutting back on extras or unnecessary spending.
“Cost-of-living expenses are up. Eating and drinking expenses are up,” said Sally Lyons Wyatt, who advises packaged food companies at Circana. “Consumers are looking for foods that fill them up for the least amount of money.”
New York Times |
