Reported 3 days ago
The potential reduction in SNAP benefits, part of proposed GOP budget cuts, could severely impact the snack food industry, including brands like Pop-Tarts. As the economy weakens and low-income consumers face financial strains, manufacturers such as Kraft Heinz and General Mills may see significant losses. With proposed cuts estimated between $50 billion to $150 billion over the next decade, analysts warn that consumers will prioritize essential food purchases over snacks, leading to a significant shift in spending habits. Retailers that cater to lower-income shoppers could feel the brunt of these changes, further complicating an already challenging economic landscape.
Source: YAHOO