American families struggling with rising food prices due to inflation should eat cereal for dinner to save money, said Kellogg CEO Gary Pilnick. Estimation His net worth is said to be $15.7 million.
It’s no secret that American families are suffering from inflation under the Biden administration.
Gary Pilnick, the billionaire CEO of Kellogg Co., sees the crisis as an opportunity to promote his brand, suggesting cash-strapped families eat “cereal for dinner.”
“The cereal category has always been very affordable and tends to be the go-to destination when consumers are under pressure,” Pilnick said in a recent CNBC interview.
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Pilnick went on to suggest that the fact that consumers are currently under economic pressure is a good marketing opportunity for Kellogg.
“Some of the things we’re doing is messaging, first of all,” the Kellogg CEO said. “We need to reach where the consumer is, where we’re advertising about dinner cereal.”
“If you look at the cost for families to buy cereal versus what they would otherwise pay for cereal, it would be much more affordable,” he added.
Asked whether it would be taken “the wrong way” to offer “cereal for dinner” to families struggling with inflation, Kellogg’s CEO said: “We don’t think so. No,” he said.
“It’s actually going very well right now,” the billionaire said.
Pilnick explained that internal data shows that “more than 25 percent of consumption occurs outside of breakfast occasions.”
“Most of them are at dinner time, and the number of occasions is increasing,” Pilick said with a smile.
The Kellogg CEO added: “Dinner cereal is probably more of a trend right now, and we expect that to continue as consumers are under pressure.”
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