Sales of Kraft's macaroni and cheese dinners are up "double digits" from the same period last year, according to the company's earnings statement. The company's Oreos, Capri Sun and Kool-Aid also saw strong sales.
They're not quite luxury foods, but all can make an affordable treat when budgets are tight.
It's also no surprise that fast food chains are benefiting as Americans still want to eat out but keep a tighter grasp on their wallets.
For instance, Dunkin' Donuts has benefited from consumers who can't afford Starbucks but still need their morning cup of java.
"It's a recession that's not created equal," Hamilton said. "People are obviously going shopping instead of going out."
Another big seller: rotisserie chickens from local grocery stores, Hamilton said.
And McDonald's has seen blockbuster results around the world. The company's first-quarter earnings were up 3.5 percent, driven in part by strong sales of breakfast sandwiches. (McDonald's has also been trying to steal Starbucks' customers with upscale coffees and cafes in some locations.) The company also benefited from strong sales of drinks and chicken sandwiches.
"Consumers seemed more willing to use foodservice as a special occasion on the weekend," Michele Schmal, vice president of foodservice product development at research group NPD said in a recent report. "Perhaps they are looking for a chance for a little escape via affordable luxuries, amidst the economic doom and gloom."
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