This One Pantry Item is Flying Off The Shelves Right Now
Although numerous packaged food companies are seeing the implications of shutting their doors due to coronavirus outbreaks among employees, some companies are seeing a significant increase in sales. There's no denying that people are grocery shopping now more than they used to because of stay-at-home mandates, and it seems that there's one item in particular that customers can't get enough of right now, and that's Smucker's.
We're going to blame nostalgia for this one, but it seems more and more people are craving their childhood favorites in quarantine—Smucker's fruit spreads in particular. According to J.M. Smucker Co.'s quarterly sales report, 72% of sales increased for their consumer goods. For the fiscal year 2020, J.M. Smucker Co. reported a net income increase of 52%, according to a statement made by Mark T. Smucker, CEO and President of J.M. Smucker Co.
Between the Smucker's fruit spreads and JIF peanut butter (yes, they are owned by the same company), this company saw higher sales during this quarter in particular and even reported that consumers are buying peanut butter at rates faster than production rates. Which makes sense to us, given that we rated JIF peanut butter the best tasting peanut butter at the grocery store.
Along with the popularity in Smucker's fruit spreads, grocery shoppers also seem to have a craving for their famous Uncrustable's line. This product alone experienced a sales increase from 26% to 50% during their fourth quarter. With their new Uncrustables manufacturing plant, plus the incredible increase in sales, it's no wonder this company is expanding its product lines. You'll even start to see sandwich roll-ups and taco bites in your frozen food aisle soon.
Customer's cravings for their favorite childhood snacks during a troubling time isn't news to us, especially when you look at the sales data at grocery stores. Companies like Campbell Soup Co. and other popular frozen food brands are doing extremely well at the moment. Plus, these items last a long time in your pantry and freezer, which makes them the perfect grocery items to stock up on.
Needless to say, grocery shoppers love their peanut butter and jelly sandwiches, and they can't seem to get enough of their favorite Smucker's spreads.