Posted by Mark J. Miller on March 9, 2012 11:01 AM
Hot dogs and apple pie are supposed to be all-American, right? So H.J. Heinz wants to make sure all Americans can actually put some ketchup on their dogs (and boost their own bottom line, too, naturally).
After supersizing its ketchup packets in 2011, the 149-year-old company has just announced that it “is introducing smaller sized Heinz pouches that will cost 99 cents for a 10-ounce pack” in order “to lower the entry price for price-sensitive consumers in times of tough economic conditions,” according to Forbes.com.
In addition, Heinz is getting out of the frozen-meals business and put more emphasis on the frozen-snacks biz, which is a $200 million business in the U.S. alone.
Heinz’s bigger packs of ketchup won’t be going doing in price, though, but will continue to have a lower price per ounce than the smaller packs, Forbes notes. The adjustments in difficult financial times have already paid off.
Heinz Ketchup’s growth in the third quarter was nearly 11%, the site notes, and growth in Asia/Pacific have helped “the company’s market share in the global ketchup, condiments and sauces market continue to rise.”
As for those T.G.I.Friday’s frozen potato skins and buffalo wings, a growth area for Heinz? Go ahead and keep on planning on having them around for late-night snacking needs. It’s the meals you can say goodbye to.