February 29, 2024
Kellogg’s CEO Defends ‘Eat Cereal For Dinner’ Remark When Speaking On Inflation
Kellogg's CEO Gary Pilnick is under fire after explaining why cereal for dinner is "on trend" amid slowing inflation.
American shoppers are spending more on groceries than they have in 30 years. But Kellogg’s CEO Gary Pilnick has the solution, just eat cereal for dinner.
Pilnick appeared on CNBC’s “Squawk on the Street” where he explained why cereal for dinner is “on trend” amid slowing inflation.
“The cereal category has always been quite affordable, and it tends to be a great destination when consumers are under pressure,” he said. “If you think about the cost of cereal for a family versus what they might otherwise do, that’s going to be much more affordable.”
Pilnick believes the price of a bowl of cereal with milk and fruit is “less than a dollar.” However, that doesn’t amount to the cost of a box of cereal, a gallon of milk, and a piece of fruit.
CNBC’s Carl Quintanilla asked Pilnick if his comments on eating cereal for dinner had the “potential to land the wrong way.” However, Pilnick thought otherwise saying, “We don’t think so. In fact, it’s landing really well right now.”
Pilnick went on to cite Kellogg’s data showing cereal as the top choice for breakfast and the 25% of cereal consumption that takes place at other times of the day, like for dinner or a snack.
“Cereal for dinner is something that is probably more on trend now and we would expect to continue as that consumer is under pressure,” he said.
His sentiments appear to replicate Kellogg’s new tagline that was introduced in 2022 to “give chicken the night off.” A press release outlined the company’s inflation alternative for shoppers to have breakfast for dinner with its cereals which include Corn Flakes, Froot Loops, Frosted Mini Wheats, and Raisin Bran, among others.
However, his tone-deaf remarks were ripped to shreds on social media after the interview clip surfaced online.
“this is so fu*king dystopian….. america is falling SOOOOO fast,” one user wrote.
“Man, this really makes me put Kellogg in the category of “evil companies” if they weren’t already,” added someone else.
2023 data from the U.S. Department of Agriculture found the price of fats and oils increased 9%, sugar and sweets increased 8.7%, and cereals and bakery products increased 8.4%. The price of pork was the only category to decline, by 1.2%.