The cereal aimed at health-conscious consumers contains organic coconut oil, pumpkin seeds, and dried sugary cranberries.
Would you pay $13 for a box of cereal?
General Mills said on Tuesday that the food company plans to bolster sales by offering a ready-to-eat breakfast meal complete with real maple berries, dried cherries and almonds. The catch: A box is priced at more than double the cost of an average box of cereal in the U.S.
"We're innovating in new product forms that command premium price points, including our new Morning Summit cereal, which has almonds as a first ingredient and sells for $13 a box," the company's CEO Jeff Harmening told investors in a conference on Tuesday.
The cereal aimed at health-conscious consumers also contains organic coconut oil and pumpkin seeds. For sweetness, General Mills added dried sugary cranberries and dried cherries to the blend.
The sales price is part of a strategy to offer "compelling innovation" and "health benefits" that give consumers a reason to walk down the cereal aisle at grocery stores, Harmening said.