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The Retail Rundown: Consumer Sentiment Rises at Year's End
Consumer sentiment spiked at the tail end of 2023, boosted by improved viewpoints of inflation in the new year. According to the University of Michigan’s (U-M) Survey of Consumers, consumer sentiment climbed by 14% in December, reversing the declines from the previous four months.
All age, income, education, geographic, and political identification groups saw gains in sentiment in December, said U-M. The index is just shy of the midpoint between the pre-pandemic reading and the historic low hit in June 2022, added U-M.
The University of Michigan's...
The Retail Rundown: Feasting on Holiday Features
Thanksgiving is here and the retail segment is teeming with all things turkeys, sides, sweets, and treats!
Fittingly, turkey leads the protein category with 31.1% of total feature volume, up from 22.5% the week prior. Pork follows with 22.8%. Seafood narrowly overtakes beef for the third spot, with 18.8%. Beef claimed 17.4%, nearly flat with last week.
Mintec recently took a look at the components that make up the traditional holiday dinner in its "Thanksgiving Dinner Index 2023" report. The index, which measures price fluctuations across key food commodities that make up a...
The Retail Rundown: Pork and Seafood Share the Spotlight Next Month
Pork and seafood will share the spotlight next month, as October is recognized as both National Pork Month and National Seafood Month. Retailers are expected to increase feature volume for the two proteins in the weeks ahead to promote spending this fall.
October is reserved for National Pork Month to help move product when hog supplies are large. While a seasonal expansion in supplies typically takes place around this time of year, ongoing liquidation efforts may keep a lid on supplies this fall and winter.
Weekly hog slaughter levels...
The Retail Rundown: Which Proteins Dominate Holiday Features?
Leading up to the Fourth of July holiday, seafood and pork feature volume dominate retail buying opportunities. Seafood features account for 28.5% of total protein features while pork comes in with 26.7%. Beef falls to third with 25.3%, followed by chicken with 17.1%.
According to the National Retail Federation's annual Independence Day survey, 87% of consumers plan to celebrate the Fourth of July this year and spend an average of $93.34 on food items. Total spending is expected to reach a record $9.5 billion, up from $7.7 billion in 2022. Of those celebrating, 65%...
USDA Launches Effort to Strengthen Substantiation of Animal-Raising Claims
The U.S. Department of Agriculture (USDA) announced today that it is implementing a multi-step effort aimed at strengthening the substantiation of animal-raising claims. This action builds on the significant work USDA has already undertaken to protect consumers from false and misleading labels and to implement President Biden’s Executive Order on Promoting Competition in the American economy.
“Consumers should be able to trust that the label claims they see on products bearing the USDA mark of inspection are truthful and accurate,” said Agriculture Secretary Tom Vilsack. “USDA is taking...
Taco Bell, Cargill and the National Fish and Wildlife Foundation Partner to Restore Habitats
With bold ambitions to operate 10,000 restaurants in the coming years, Taco Bell acknowledges its responsibility to balance global expansion with intentional impact. In pursuit of parent company Yum! Brands' broader climate efforts to reduce greenhouse gas emissions by nearly 50% by 2030, Taco Bell is taking bigger steps to improve the environmental effects of its supply chain, especially for one of its top-selling ingredients. Taco Bell is now partnering with its long-time supplier Cargill and the National Fish and Wildlife Foundation...
ANALYSIS: Lighter Cattle Weights and Reduced Output Pull YTD Beef Production Lower
ANALYSIS: A Seasonal Snapshot of Christmas and Easter's Boost to Lamb Leg Sales
ANALYSIS: A Closer Look at Formula vs. Negotiated Sales in the Boneless Beef Segment
ANALYSIS: UK Beef Fillet and Sirloin Prices Firm as Cattle Tightens
Mintec Completes Fourth IOSCO Accreditation for Proprietary Agrifood Prices