Aging boomers, the 1 billion consumers globally who are 55 or older, are focused increasingly on health and wellness concerns” said General Mills Chairman and CEO Ken Powell . The company is emphasizing the health benefits of some of its foods and introducing more health oriented offerings and smaller portion sizes, as part of its strategy.
General Mills pursuit of the older market isn’t new as reported here in our blog some months back.
In the next five years, an optimistic General Mills expects to see double-digit shareholder returns by using a business strategy that will transform the Golden Valley-based food giant “from a multinational … to a truly global company.”The continued momentum is built on a “strong, sustainable business model,” Powell said. He outlined a company strategy that it believes will drive greater productivity and optimize its product mix. That approach, he said, will allow expanded profit margins while funding investments in marketing its brands and developing new products.
The company also outlined how it is aligning its strategy with several key demographic trends in this interview: