SUPERMARKETGURU FOOD &
HEALTH WEEKLY NEWSFLASH!
Will You Spend $10/lb for M&M’s?
Published on: August 12, 2008
While it's true that during recessionary periods "gourmet" food sales actually increase; I have to wonder what the brilliant folks at M&M's are thinking?
Historically we've seen increases in those self indulgences when money is tight. While it might seem to be contrary to conventional wisdom, keep in mind that while we can't afford that new car, or new fridge, (or maybe even our mortgage payment), the mind is a remarkable thing – and it tends to force us to do things that will, in spite of the world around us, keep us sane and make us feel better. Which is why that extra special bottle of wine, or savory triple crème brie, or even an exotic spice or two, winds up extra in those shopping carts and pantries.
But there is a major difference between these products and the new premium (or can we say overpriced) M&M's – these products typically offer an above average experience.
The new premium M&M'S do not. The taste is artificial, the inside is more mushy than typical M&M's, and the color is shiny and mottled – and looks more like a faux marble kitchen countertop than something you would pop in your mouth. The biggest mistake in judgment however is removing the hard candy shell. For decades, brilliant television advertising touted "melts in your mouth, not in your hand" and helped make M&M's one of the best selling confections - and easily one of the best known.
Brand managers covet certain job assignments - and I'm sure that being the brand manager of M&M's is one of the most desired. After all, take a leading brand that could do no wrong: millions of consumers voting for new colors, peanut and plain, stuffed toys and other merchandise flying off shelves, brand extensions that replaced the peanut with other nuts and fillings – all hugely successful; because they kept true to the product heritage.
The most important asset that any brand has is its brand image and the new premium M&M's just doesn't meet the criteria.
They could spend millions of dollars convincing us that M&M's without the candy shell are better than with the shell.
Of course, then what happens to the conventional M&M's?
Or they just could put their Dove chocolate brand on these.
That is after they work on the recipe to make them taste better ... and bring down the price to a reasonable level because at $10 a pound, these M&M's just aren't worth it.
