These Beloved Snacks Will Remain Hard to Find at Grocery Stores
Only a few days ago, Mondelez, the food and beverage company responsible for beloved snacks such as Oreos and Ritz Crackers, confirmed that price hikes of up to 7% were instituted this month amid skyrocketing inflation.
Moreover, CEO Dirk Van de Put suggested on a Jan. 27 earnings call that not only would shoppers have to pay more for their favorite snacks, but they also might have a hard time finding them on grocery store shelves—at least until later this year.
A worker strike in the fall of 2021, plus labor shortages linked to the omicron variant, have impacted inventory levels. Though the company is working now to boost supplies, your next grocery run may be affected.
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"We are working to rebuild inventory levels, which takes time in this environment, particularly as demand continues to be strong," Mondelēz CFO Luca Zaramella said on the call. "We expect a gradual improvement of the situation as the year progresses."
The company's method for improving supply is drawn from lessons learned earlier in the pandemic.
"By applying the lessons learned from earlier waves of the pandemic and maintaining our focus on execution, we are confident that we remain well positioned to deliver our growth targets," Van de Put added.
Mondelēz previously paused manufacturing 25% of the items in its portfolio as it focused production efforts on popular items. Meanwhile, other food manufacturers have pursued similar tactics.
With prices up, Making This Grocery Swap Can Save You Money, New Study Finds.