The company is trying to resuscitate a declining interest in breakfast cereals.
Kellogg's is set to debut a new Froot Loops flavour for the first time in ten years, Wild Berry. This is seen as an effort to try and galvanize interest in sugary cereals, which have seen profits decline as consumers' appetites shift elsewhere.
Instead of removing all the unnecessary sugars present in most breakfast cereals, the company is focusing on updating their classic roster of products. In 2016, they introduced cinnamon-flavoured Frosted Flakes, as well as a chocolate version in November of 2017.
Furthermore, Kellogg's is trying to re-brand their cereals as an any-time-of-day snack, as opposed to a strictly being considered a morning meal. They have begun to package their product in bags to make them more snack-friendly, while also introducing the "Whatever Froots Your Loops" tagline for their Froot Loops brand.
"The companies are likely diversifying their marketing strategies to try to capture new occasions," reveals AllianceBernstein analyst Alexia Howard. "Everybody is trying to reposition themselves into the snacking space."
In the past five years, cereal sales in the United States have dropped nearly 9% to $10.5 billion. As more and more consumers switch to healthier alternatives, corporations must try and rebrand their confections in order to stay afloat.