Food Companies Are Struggling To Make Sales Due To Americans Cutting Back On Spending

Food companies are recently struggling with their sales as consumers also struggle with money.

Many food companies are formulating promos to attract budget-conscious consumers. (Photo: Century Pacific Food Inc.)

Struggling Food Companies

Major food companies like Kraft-Heinz and Conagra Brands are facing decreased sales as low-income Americans cut back on spending.

With government benefits like SNAP decreasing, food companies are offering deals and new sizes to attract budget-conscious consumers.

These changes to the sales of food companies come as low-income households turn to cooking from scratch and buying cheaper items, forgoing fresh produce and nutritious options.

Aside from food companies, convenience stores are also seeing lower sales from those using food stamps, prompting companies to offer value deals like $6.99 chicken patties.

According to a published article by SmartNews, the focus of food companies is now on attracting value buyers back with discounts, after a period of promoting premium products.

Bako Group Ltd.’s Acquisition Of A Company

In a published article by Bakingbusiness.com, Bako Group Ltd. has acquired Finlays Foods, which is a manufacturer of baking and food ingredients in Craigavon.

This acquisition will help Bako expand into new markets in Northern Ireland and beyond, diversify their products, and improve their competitiveness.

Finlays Foods will continue to operate under its brand as part of Bako, with both companies looking forward to future growth opportunities and benefits for their customers.

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