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Familiarity is Key in the Meat Case During Inflationary Environment
Inflation continues to influence how and what consumers purchase at the meat case as shoppers look for ways to stretch the dollar. The latest CPI report for February showed inflation up 6% on the year. While inflation is slowing and has posted year-over-year declines for eight straight months, it remains well above the Federal Reserve's target rate of 2%.
Through February, the index for food-at-home index rose 10.2% over the last 12 months. Meanwhile, the food away from home rose 8.4% over the last year. Economists are awaiting the March 2023 CPI report, scheduled for release Wednesday morning at 8:30 Eastern time...
Sales of Plant-Based Meat Alternatives Increasingly Fizzling Out at Retail
The retail craze for plant-based meat alternatives appears to be behind us.
Data from COMTELL along with Information Resources, Inc. (IRI), which together with The NPD Group (NPD) have formed Circana, demonstrates a consistent decline in retail sales volume of plant-based alternatives within the latest two years and counting.
Through the information from IRI, COMTELL now features a vastly larger database of retail items and related statistics on its overhauled retail dashboard.
In the latest week, sales of meat alternatives ranked tenth...
18th Power of Meat Report: Meat Purchases Rise Above Pre-Pandemic Levels, Consumers Look for Value
Americans are buying more fresh meat than before the COVID-19 pandemic and are seeking value in terms of price, convenience and better-for attributes in meat purchases, according to the 18th annual Power of Meat report released today bythe Meat Institute and FMI—The Food Industry Association.
Self-described “meat eaters” comprise 78% of Americans, compared to just 7% who describe themselves as vegan or vegetarian. Shoppers spend more than $15 in the meat department per trip and...
UB Consulting: Are Consumers Facing Credit Issues?
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