Hormel’s Spam benefiting from poor economy; sales soaring

AUSTIN, Minn. These days, people are keeping a close eye on their checkbooks while grocery shopping, and it seems many are looking to Hormel Foods Corporation’s Spam as an inexpensive source of high-protein food. According to the New York Times, the gelatinous rectangle of spiced ham and pork is flying off shelves at about $2.40 per 12-ounce can.

Though there is no independent data provider that gathers Spam sales numbers, Hormel’s chief executive, Jeffrey M. Ettinger, claimed in September that sales were increasing by double digits. Spam “seems to do well when hard times hit,” said Dan Bartel, business agent for Spam’s union local. “We’ll probably see Spam lines instead of soup lines.”

And it’s not the only product that seems to feed off of the failing economy. Vitamins, beer, fruit and vegetable preservatives, macaroni-and-cheese, Jell-O and Kool-Aid have all flourished recently while the majority of other food products struggle with the changing times. Spam’s popularity may have a lot to do with its potential to last for years, due to its vacuum-sealed can and the fact that it does not require refrigeration, as well as its low price.

The unique product is the result of a combination of ham, pork, sugar, salt, water, potato starch and sodium nitrite, which provides Spam with its pink tint, according to Hormel’s Web site. Spam is available in Spam Low Sodium, Spam with Cheese and Spam Hot & Spicy varieties.