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This Week in Retail: Wing Demand Feeling the Madness
The first round of the college basketball tournament dubbed March Madness is officially underway—and retailers are certainly going mad over food promotions for the nearly month-long event.
On the wholesale side of the equation, wings are in high-demand as foodservice and retail buyers alike look to secure inventory for March Madness. This has driven prices up in recent weeks, as supplies grow increasingly tight. Spot market prices for small sized wings are currently up nearly 12 percent over last year at this time, or 17 cents per pound, and up about 4 percent compared to the 3-year average. Wholesale prices on jumbo wings, more often found at retail, are up a whopping 36 percent year-over-year. Buyers are paying nearly 50 cents more per pound on the spot market for jumbo size wings this week—that’s up 14 percent from the 3-year average.
This is the second “peak” of the year for wings in 2019, the first summiting in early February. The downslope was relatively short-lived, bottoming out later that month. The current uptick, while seasonal, is especially...
This Week in Retail: Staggering Super Bowl Spending
Wings Steal the Show as Ad Prices Fall 15% from the Three-year Average
After a stale and uneventful retail month in January, we have finally made it to the first major buying occasion of 2019: The Super Bowl—and grocers can’t wait.
Americans intend to spend an average $14.8 billion this year for the Super Bowl, according to the National Retail Federation. The total amount is down from last year’s $15.3 billion, primarily because fewer people plan to watch the game – 182.5 million this year compared with 188.5 million last year. The overall spending is still the third-highest on record. Even more impressive considering this figure was just $8.9 billion in 2010.
“Spending is expected to be at one the highest levels we’ve seen. And retailers are ready whether you need food...
The Evolution of Super Bowl Consumption
To many football fans, the Super Bowl may feel like Groundhog Day (which, coincidentally falls one day before the NFL championship on Feb. 3), as the year’s biggest sporting event brings another round of family and friends gathering together to eat wings, drink beer, engage with ads and watch the New England Patriots vie for the championship (yet again).
And while that remains true to some extent, today’s viewing experience is far different from the one you enjoyed with your parents while you were growing up.
Yes, beer and wings are a staple of any Super Bowl, but a range of other categories are joining the party due to evolving tastes and the growth of the female football fan base...
This Week in Retail: Proteins Ads Plentiful and Sporting Attractive YOY Prices
While major buying occasions may be few and far between this time of year, there is no shortage of protein features in grocery circulars.
Representatives from nearly all protein categories grace the front pages of ads this week, with retailers putting special emphasis on roasts and other cold weather cooking applications—you know, the kind that pairs nicely with a root vegetable of sorts. The deep-freeze has set in throughout the Midwest and the Northeast as of late, motivating consumers to stock up on hearty proteins and comfort foods.
Buying opportunities for beef have dominated...
Americans to Eat More than 1.3 Billion Chicken Wings for Super Bowl
National Chicken Council calls on President Trump to declare day-after Super Bowl a national holiday
Will Americans be ‘winging it’ for the Big Game? The National Chicken Council (NCC) today released its annual Chicken Wing Report, and the answer is a resounding “yes!” NCC projects Americans’ consumption of the unofficial gameday menu staple – the chicken wing – will hit an all-time high at 1.38 billion wings during Super Bowl LIII weekend, as the Los Angeles Rams and New England Patriots battle for the Lombardi Trophy. This figure is up two percent, or about 27 million wings, from 2018.
As Americans unite around their shared love of the chicken wing during Super Bowl LIII...
Rabobank: Global Beef Trade Into the 2020s
World Food Prices Jump in November
Women in Food and Agriculture Survey Results: Are Women Fairly Represented in the Industry?
Rabobank Beef Quarterly Q4 2019: Strong Demand to Test Supply in 2020
Consumer Confidence Index Declined Slightly in November
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