Trend Alert introduces you to the latest brands, products and services that are trending with 16-24s.
What does it take to succeed in an industry that’s in decline in 2019? A quirky new cereal brand seems to have the answer. Although spending on cereal declined from nearly $14bn in 2000 to $9bn in 2018, this year Magic Spoon has become a breakout hit in the breakfast market. Only four months after its April launch, its website was attracting over 200,000 monthly visits.
The cereal market has been impacted by the health trend, which has made people more conscious of what they’re eating and more aware of the nutritional value of different foods. Not only are consumers turning against the sugary cereal brands that once dominated the breakfast food aisle at any supermarket, but there is also a wider variety of alternatives on offer than ever. Shoppers are choosing products such as smoothies, protein bars and oatmeal instead of cereal.
Magic Spoon is able to buck the trend by offering a new take on cereal that appeals to the tastes of Millennials and Gen Z. Its branding makes clear that they have the youth market in mind, but it’s the healthy recipe that shows they truly understand this customer, 60% of whom have changed their diet to be more healthy in the past year, according to our UK Youth Trends Report. The product is high in protein and low in carbs, but still tastes like the sweet cereals this demographic enjoyed in childhood.
Magic Spoon’s success is particularly impressive for the fact that the product is 2.5x more expensive than the average cereal, meaning they have not only convinced consumers to buy a product they had turned against, but to pay more for it.
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