General Mills' Strategy to Reinvigorate Growth Has Struggled Against a Difficult Economic Backdrop

In response to a challenging consumer backdrop, General Mills has invested in narrowing price gaps and product development, which should help its portfolio of brands to maintain an edge. This investment helps drive traffic that entrenches the company's relationships with retailers. In many categories, General Mills has not only the top brand but also several leading brands that together create a dominant companywide share. For example, top brand Cheerios holds about 11% of the US ready-to-eat cereal market, contributing to the company’s leading 30% market share in calendar year 2024, according to Euromonitor.