People cooking at home at highest level since Covid, Campbell’s says

Campbell’s Soup Sees Surge in Home Cooking Amid Economic Concerns

A worker arranges cans of Campbell’s soup on a supermarket shelf in San Rafael, California. Getty Images

Campbell’s has observed a significant increase in customers preparing their own meals, marking the highest rate in about five years. This trend is a clear indication of ordinary people tightening their budgets amidst economic uncertainties.

According to Campbell’s CEO Mick Beekhuizen, “Consumers are cooking at home at the highest levels since early 2020.” This shift towards home-cooked meals has been noted across all income brackets in the meals and beverages category. Beekhuizen drew parallels between the current situation and the early stages of the global pandemic. During that time, economic uncertainty was rampant as the Covid virus disrupted daily life, resulting in significant changes in spending and employment patterns.

The increase in home-cooked meals could imply that people are dining out less, reflecting a trend of Americans being more cautious with their spending. This behavioral shift can have negative implications for the gross domestic product (GDP), as consumer spending accounts for two-thirds of GDP. A recession is typically defined as two consecutive quarters of GDP contraction.

Moreover, the University of Michigan’s consumer sentiment index recently hit one of its lowest levels on record, indicating a pessimistic outlook among everyday Americans towards the national economy.

Campbell’s recent comments came after the company exceeded Wall Street’s expectations in its fiscal third quarter. The parent company of Goldfish and Rao’s reported earnings of 73 cents per share, excluding one-time items, on $2.48 billion in revenue. This outperformed analysts’ predictions of 65 cents per share and $2.43 billion in revenue, respectively.

Despite the positive financial performance, Campbell’s stock has experienced a decline of over 18% in 2025. This trend reflects the broader economic concerns and uncertainties prevailing in the market.

In conclusion, the rise in home cooking and the shift towards frugality among consumers serve as indicators of the current economic climate. As Americans navigate through uncertain times, their spending habits and preferences continue to evolve, shaping the future trajectory of the economy.