My first thought was “boy, an American company could copycat this and stand out immediately in the color mess of snack aisles”

Unsurprisingly, XKCD has already contemplated this:

https://xkcd.com/993/

British supermarkets had this long before the XKCD, though they've since reverted to more traditional design.

Search Tesco Value or Sainsbury's Basics for the 1990s version.