MILWAUKEE — Price is paramount as consumers pare back even their food purchases. Nestle and Hormel Foods, maker of pork-in-a-can icon Spam, said Thursday they plan to keep pushing low-cost products as consumers trim their budgets amid the deepening recession.
Since May, Spam sales have been growing by double-digit percentages as consumers flock to the value they see in the brand, chief executive Jeffrey Ettinger said. Hormel’s plants have boosted production and even run on weekends, he said.
“I think they’ve always been a good value to consumers,” Ettinger said of brands such as Spam, Dinty Moore stews and Hormel Chili.
Nestle, which makes Perrier water and Jenny Craig products in addition to its namesake chocolate, said it aimed to increase sales with low-cost products such as bouillon cubes and instant coffee during the global downturn. The Associated Press
