New York —
What do Bad Bunny, Selena Gomez and Walton Goggins all have in common? It’s not a red carpet premiere, but major food companies are hoping their star power will inspire Americans to snack again.
Earnings from Mondelēz International, PepsiCo, General Mills, J.M. Smucker, and The Campbell’s Company in recent weeks have all showed sluggish sales in North America. Consumers continue to pull back spending on name brand products, opting to either to buy cheaper store labels or not buy snacks at all.
“It’s a difficult time because people are seeing their budgets get tighter, and as much as they enjoy snacking and snacking brands give them pleasure, it can be something to cut off their shopping lists,” said Jenny Zegler, director of Mintel Food and Drink, a consumer analysis firm