General Mills Sets Sights on Consumer-Focused Growth: GLP-1 Strategy, Inventory Optimizations

General Mills is focusing on consumer-centric innovation and strategies to drive business growth, including through new products that respond to active trends such as GLP-1. It is also keeping up with the inventory shifts through digital optimizations. 

Jeffrey Harmening, General Mills CEO, said during a recent earnings conversation that GLP-1, although seen as a long-term structural headwind for CPG companies due to reductions in calorie consumption, provides opportunities for meeting consumers where they are. 

“As a result of consumers looking for [GLP-1], they want more protein,” said Harmening, adding that people tend to lose muscle mass when they’re reducing their calories and need more macronutrients and fiber. “There’s a reason why Cheerios Protein is off to such a great start, or Progresso Pitmaster, which is high in protein, is off to a really good start.”

The company also recently launched Nature Valley creamy protein and is seeing growth in its granola business as well. 

According to Harmening, General Mills expects GLP-1 usage to continue to grow, although it has not yet had a significant impact on its categories just yet.