(NewsNation) — General Mills announced Wednesday it is increasing its coupon spend by greater than 20% in the first half of the 2025 fiscal year.
CEO Jeff Harmening discussed the changes during a 2024 fourth-quarter call. This move is in lockstep with other food companies, such as McDonald’s, which are looking to provide greater value to consumers.
Harmening noted “macroeconomic uncertainty” and inflation as two of the reasons why coupons and other value-adds, such as variety packs, will be a focus of the fiscal year.
“The rate of inflation in goods and services in the U.S. and many countries around the world remains higher than historical levels, even if it has moderated from recent highs,” Harmening said via MarketScreener.
“We continue to see inflation impacting our input cost basket in fiscal 2025, with labor being the primary underlying driver of inflation in our sourcing, manufacturing, and logistics costs.”
General Mills owns Cheerios, Pillsbury, Häagen-Dazs, Yoplait and Reese’s Puffs. The iconic conglomerate will continue to develop digital coupons to allow a targeted approach.