A MAJOR frozen food company is launching dozens of new meals as shoppers continue to look for more budget options.
As rising prices force customers to reassess their spending habits, many businesses are thinking of new products to pitch.
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Conagra Brands, Inc is trying out a new range of frozen meals in its bid to lure finance-conscious consumers.
These will include single-serve and multi-serve meals, vegetable side dishes, and gluten-free and plant-based meals.
It comes as inflation surges have seen many shoppers shun restaurants and high-end good in favour of budget options.
Conagra CEO Sean Connolly spoke about changing consumer habits in April, saying “where you’ve got stretched household balance sheets, you’ve had value seeking behavior, people seeking trade-offs.”
“So that’s been in place, and it’s been everything from the beginning around things like more use of leftovers, things like that.
“So that has been with us.
“We invested to kind of overcome some of those challenges.”
The move has prompted industry analysts to weigh in on the company’s strategy.
Arun Sundaram, senior vice president and equity analyst at CFRA Research, told Fox Business that Conagra’s lean into some key consumer trends.
He noted that frozen meals may not always match home cooking for value.
But he added they “offer solid value, longer shelf life, and can help with portion control and reducing waste”.
Consulting firm McKinsey found that ongoing market uncertainty has seen consumers “explore a range of personal financial behaviors to protect their pocketbooks”.
It’s not the only retailer to pitch its latest wares to budget-conscious shoppers.
Aldi is selling a pair of 12″ Long Grilling Gloves to keep you safe while barbequing your ribs.
The budget-friendly retailer is offering the cheap buy for just $8.99 in its Finds aisle to see you through summer.
