Poultry Quarterly Q4 2022: Keeping Chicken Affordable in Times of Major Cost and Supply Challenges

The outlook for the global poultry industry is for strong market conditions, despite ongoing operational challenges.

Report summary

The outlook for the global poultry industry in Q4 2022 and early 2023 remains strong, despite the big challenges across global poultry as well as some recent setbacks in North America. From a market perspective, a weaker economic climate with pressure on spending power will lead to more price-driven consumer behavior, which supports poultry consumption as it is the cheapest meat protein option...

Do Good Chicken Reports 10 Million Pounds of Food Surplus Saved From Landfills in First Six Months 

Do Good Chicken™, the first chicken brand that fights food waste and combats climate change, reports it has diverted more than 10 million pounds of healthy surplus grocery food from landfills, after community donations are made, to upcycle into nutritious chicken feed. The milestone comes just six months since Do Good Chicken's spring 2022 retail launch and equates to saving surplus grocery food weighing approximately three times the weight of the Statue of Liberty, preventing an estimated 950 metric tons of greenhouse...

Kroger CIO Shares Grocer's Seamless Strategy at Groceryshop 2022

On Wednesday, at the Groceryshop 2022 convening in Las Vegas, Kroger Co. Chief Information Officer and Senior Vice President Yael Cosset shared the grocer's seamless strategy and changes in shopping trends.

"We know our customers have different needs based on their daily lives and the question becomes: What, when and how? Our seamless ecosystem brings all of these factors together, without asking the customer to compromise on quality, value or convenience," said Yael Cosset, SVP & Chief Information Officer for Kroger. "Whether our customer shop for a last-minute dinner, their weekly..."

Conversing on Consumer Behavior with EVP of IRI, Chris Dubois

Chris DuBois is the EVP and Practice Leader for IRI’s Protein practice and leads IRI service, sales, and delivery for IRI’s large protein-focused clients.  In addition to leading IRI’s teams, he also works extensively with industry associations and media outlets to share research-based expertise and insights and is a frequent speaker and contributor. Chris Dubois is one of the esteemed presenters at this year’s Global Protein Summit in Chicago. Ahead of his presentation on consumer demand, Chris joined us to talk about the trends of the past year and what to expect in the future.

Impact of a Recession on Foodservice

Introduction

Senior executives from leading financial institutions have been predicting that an extended economic downturn is becoming more likely by the day. But despite declining GDP and still-surging inflation, many executives have been hesitant to use the term recession when describing the prospects for the second half of 2022. This hesitancy is largely due to the fact that—despite all of the warning signs—there are also indicators such as consumer spending and low unemployment that defy historical conditions for a recession. So, where does that leave foodservice? How do we interpret the...

Lower-income Households Hardest Hit by Inflation

Historically, the spending gap between higher- and lower-income households is more pronounced in times of high inflation. With food inflation at a 40-year high, the gap has widened again, and lower-income households are shifting their at- and away-from-home eating behaviors to stretch their food dollars. Eating more frozen and shelf-stable foods, using less expensive and private label brands, and cutting back on restaurant visits, are among the ways lower-income households are managing their food spending, reports The NPD Group, which recently merged with Information Resources...

Plant-based Meat Market - 40% of Growth to Originate from North America

The plant-based meat market size is expected to increase by USD 7.21 billion from 2020 to 2025, at a CAGR of 25.14% as per the latest market report by Technavio. The plant-based meat market share growth in the plant-based beef segment will be significant during the forecast period. The growing health consciousness among consumers is increasing the demand for plant-based protein products, particularly, plant-based beef. In addition, the increasing number of product launches and innovations will drive the growth of plant-based beef...

New Acosta Report Explores the Rising Impact of Inflation on Consumer Dining Habits

Acosta, a global integrated sales and marketing services provider in the consumer packaged goods (CPG) industry, today released its sixth edition of The Why? Behind the Dine, a research report providing foodservice-specific insight bolstered by the expertise of its CORE Foodservice division.

Acosta's findings show that while most consumers (54%) are dining out less often due to inflation, about one-third are choosing to trade down rather than trade out, opting for less expensive restaurant and meal options to counter rising prices...

U.S. General Merchandise Unit Sales Fell 7% in April, as Retail Revenue Declined 1%, Reports NPD

As demand softens, the retail product mix needs to attract both value seekers and premium buyers

The consumer’s willingness to spend has been crucial to maintaining a healthy level of retail performance throughout the pandemic, but demand has been softening for several months. April 2022 U.S. general merchandise unit sales were 7% lower than a year ago, creating a 1% decline in sales revenue, according to The NPD Group.

“Higher retail prices have buffered demand declines but their escalation, combined with rising gas prices..."

Convenience, Technology and Engagement are the Changing Face of Grocery Shopping in India

Grocery shopping has entered a new era in India, influenced by factors such as the fast-paced changes in technology and evolving consumer behaviour. Here, we explore the key trends that are influencing Indian consumers’ online and in-store grocery shopping habits.

Engaging experiences, convenient delivery
The pandemic has given rise to a number of ordering and delivery services – bringing home-bound consumers everything from medicines to groceries. Two in five Indian consumers find using online grocery shopping apps convenient. At the same time, nearly two-thirds...

Jersey Mike's Subs Appoints SOCi as New Global Platform of Record for Localized Marketing

Today, Jersey Mike's Subs announced it has appointed SOCi, Inc. as its global platform of record for localized marketing. Jersey Mike's, known for its authentic fresh sliced/fresh grilled subs, operates more than 2,000 locations nationwide. SOCi, the marketing platform for multi-location brands, will help simplify and streamline Jersey Mike's localized marketing strategy, including local listings, social and reputation management, and social advertising across platforms like Facebook, Instagram, Google Business Profile, and Yelp.

The past 24 months have greatly accelerated the development of new and...

Consumers Pull Back on Purchasing as Retail Prices Remain Elevated, Reports NPD

U.S. consumers have started to pull back on discretionary general merchandise purchases, but average selling prices continue at the pandemic’s elevated levels. Unit sales declined in excess of 8% for six consecutive weeks following the holiday shopping season, when compared to a year ago, according to The NPD Group. Despite higher prices, these unit declines kept retail sales revenue performance marginal, at best. The one exception so far in 2022 has been the pre-Super Bowl and Valentine’s Day week, ending February 12, which saw a...

Research Finds More Consumers Weighing Sustainability Claims on Packaged Food Choices

Sustainability considerations now influence the majority of the world’s grocery shoppers when buying packaged foods such as potato chips and cookies, according to Cargill’s most recent global FATitudes™ survey. The proprietary research finds 55% of consumers indicate they’re more likely to purchase a packaged food item if it includes a sustainability claim, a four-point jump since the company last fielded this research in 2019.

“Our latest findings clearly demonstrate that messages surrounding sustainability are having an impact on consumers,” said Nese Tagma, managing...

HelloFresh to Double Investments in 2022 as Stock Dives

German meal-kit operator HelloFresh plans to double its investments in production capacity, infrastructure and product development to about 450 - 550 million euros ($508.73 million to $621.78 million) in the coming year.

Speaking at HelloFresh’s Capital Markets Day on Wednesday, CEO Dominik Richter said the company was responding to changes in consumer behaviour as more people work from home due to the pandemic.

To further grow its customer base, HelloFresh said it would be expanding...

Technomic Releases 2022 Foodservice Predictions for the U.S., Canada and Global Markets

Technomic released three whitepapers uncovering 2022 foodservice predictions for the U.S., Canada and global markets. Navigating labor constraints, supply chain challenges and shifting consumer behaviors, operators will focus on adapting strategies and finding new innovative solutions.

Overall, Technomic predicts that industry recovery will continue in 2022, forecasting that the U.S. will surpass its 2019 sales level and Canada will be just 3% shy of pre-pandemic sales levels. From menu restructuring to rethinking the guest experience, operators across regions will reconsider priorities aligned with...

Albertsons Sees More Inflation

Albertsons Cos. projected higher inflation for the rest of the year, driven by higher supply-chain and labor costs across the food industry.

The Boise, Idaho-based supermarket chain is passing through some price increases to shoppers but said it is also offering cheaper alternatives. Executives said consumers are still spending heavily on groceries as they stay at home and cook more than they did before the pandemic.

"We have not seen material change in customer behavior," Chief Executive Officer Vivek Sankaran said Monday during a call with analysts.

Food companies say they have been...