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NRF Chief Economist Says Pandemic Recession Could Already be Easing but 'No One Has a Crystal Ball'
The economic downturn brought on by the coronavirus pandemic has officially been declared a recession, but National Retail Federation Chief Economist Jack Kleinhenz said today the key question is how long it will last.
“Will this recession be briefer than earlier recessions?” Kleinhenz said. “No one has a crystal ball. And just as it can take months to be certain a recession has begun, it can take time to declare when one is over.”
“While it would be unusual for a recession to last less than six months, it is possible that the current one could have already ended with May’s rebound,” Kleinhenz said. “The good news is that the recession may have...
ANALYSIS: Chiming in on the Mid-Year Turkey Market
As we usher in Q3, and in the absence of any major deviations in this week’s overall market environment, we thought it would be a great opportunity to break away from...
NCBA Applauds Introduction of DIRECT Act
The National Cattlemen’s Beef Association (NCBA) applauded the introduction of the bipartisan legislation to create new direct-to-consumer options for beef producers, processors and small meat markets without compromising federal food safety standards or market access under existing trade agreements.
Introduced by U.S. Representatives Dusty Johnson (R - At-Large, SD) and Henry Cuellar (D - 28th Dist., TX), the Direct Interstate Retail Exemption for Certain Transactions (DIRECT) Act of 2020 would amend retail exemptions under current law to allow meat processed under state-inspected establishments to be sold across state lines through e-commerce, providing beef producers and local processors alike with...
Lloyd's Barbeque Introduces Pulled Pork and Chicken Products
The makers of Lloyd’s barbeque products announced its pecanwood smoked pulled pork and hardwood smoked chicken made with 2-time world barbeque sauce champion Pig Beach Mustard BBQ Sauce.
Winner of the 2014 and 2016 Memphis in May World Championship Barbecue Cooking Contest, Pig Beach Mustard BBQ Sauce is a perfect match for Lloyd’s lightly seasoned hardwood smoked pulled meats. Recognized by USA Today as the “Most Prestigious Barbecue Contest,” the Memphis in May World Championship Barbecue Cooking Contest is a four-day competition held in Memphis, Tenn., that draws nearly 250 teams competing from around the world.
“Barbeque is all about bringing families and friends together,” said Eric Jacobson, Lloyd’s barbeque brand manager. “Our new hardwood smoked pulled meats made with...
ANALYSIS: Retail Beef and Broiler Prices At Highs, Pork Close
There was a change in leadership in food spend during the COVID-19, and it probably wasn’t unexpected given what transpired globally...
ANALYSIS: Turkey Cold Storage: Standing Resolute
Monday’s release of the USDA’s Cold Storage Report helps support the current standing of most major lines, and also reflects...
Albertsons Companies Announces Launch of Initial Public Offering
Albertsons Companies, Inc. announced the commencement of an initial public offering of 65,800,000 shares of its common stock to be sold by certain of its stockholders, at an anticipated initial public offering price between $18 and $20 per share, pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission (the "SEC").
The Company is not selling any shares pursuant to the common stock offering. In connection with the offering, certain of the selling stockholders expect to grant the underwriters a 30-day option to purchase an aggregate of...
Plant-Based Protein Brand OZO Brings New Option to Retail and E-Commerce
Colorado-based Planterra Foods is making its debut this month in retail outlets and direct-to-consumer e-commerce with its introductory line of OZO. Consumers looking for a new plant-based protein can take a bite of OZO Burgers (two-4 oz patties), Ground (12 oz), and Mexican-Seasoned Ground (12 oz) just in time for summer grilling and new recipe ideas.
Powered by an exclusive proprietary blend of pea and rice protein fermented by shiitake mushrooms, all of the new OZO products are an excellent source of protein with up to 22 grams per serving. OZO features a high-quality pea protein that is a great source of iron. The Planterra team is also passionate about...
Kroger Reports First Quarter 2020 Results and Provides Update on COVID-19 Response
The Kroger Co. reported its first quarter 2020 results, provided a Restock Kroger progress update on the three-year transformation plan and an update to the COVID-19 response.
Comments from Chairman and CEO Rodney McMullen
"The COVID-19 pandemic and the most recent instances of racial injustice have changed our country in unmistakable ways, not the least of which is the devastating loss of life and livelihood that has affected so many Americans. Kroger remains guided by our purpose and our values. I am proud of our associates who stepped up when we were called to be there for our customers, communities and each other. Our company is proud to...
Beyond Meat Introduces Limited Edition Burger Pack
Beyond Meat is making plant-based burgers more accessible and affordable this summer with the introduction of Cookout Classic, a limited edition burger 10-pack available at a majority of Walmart and Target stores nationwide and select retailers across the U.S. beginning the week of June 22. Sold in the frozen meat aisle with a suggested retail price of $15.99 ($1.60 per patty), the new offering will be available through mid-August, or until supplies last, and is intended to narrow the price gap between plant-based meat and animal protein.
With growing consumer interest in plant-based protein, the Cookout Classic value pack is designed to inspire a plant-based meat option at barbecues and summer gatherings. The burgers are made with...
May Retail Sales Improve Dramatically Over April but Still Below Last Year
Retail sales rose dramatically in May as retailers and other businesses closed by the coronavirus pandemic began to reopen, but remained well below spending levels seen during the same period a year ago, the National Retail Federation said.
“This sales report is very encouraging news at a time when we need to focus on what will happen as retail doors open once again,” NRF President and CEO Matthew Shay said during a live interview on CNBC’s Squawk Box program. “For a sick economy, there is no better medicine than retailers responding to consumers who are ready to safely return to stores. These sales numbers do not reflect the same strength we had going into the pandemic, but they certainly reflect the trajectory we need coming out of it. The most important thing now is...
Mintel: A Quarter of British Millennials Say COVID-19 has Made a Vegan Diet More Appealing
The prospect of a diet packed with chickpeas, lentils, and quinoa appears to be more tempting as of late, as new research from Mintel reveals that a quarter (25%) of young British Millennials (aged 21-30) say that the COVID-19 pandemic has made a vegan diet more appealing.
These plant-loving Millennials are not alone, as the research reveals that a vegan diet is proving more attractive to over one in ten (12%) of all Brits, rising to almost a quarter (22%) of Londoners, since the start of the pandemic.
This comes as Mintel research indicates there is a strong belief in the healing power of plants, as half of Brits (51%) believe plant/botanical ingredients (eg herbs, spices) can have...
PODCAST: Checking In on Chicken - Retail Demand, Unemployment, and More
COVID-19 has caused shockwaves across the whole protein sector and chicken is no exception. Retail demand, unemployment, seasonal factors, and more...
Sweet Earth Foods Debuts Eight New Plant-Based Products
Sweet Earth Foods announced the national launch of a selection of eight new burritos and entrée bowls. As the latest additions to Sweet Earth's best-selling product lines, these two new burritos and six new entrée bowls are available now in the frozen aisle of grocery stores, with distribution increasing in the following weeks.
The new burritos and bowls all incorporate plant-based Awesome Grounds or Mindful Chik'n, satisfying cravings for the meaty, juicy taste of traditional meats, and making them a good source of protein. Created with wholesome ingredients like veggies and globally inspired spices, the burritos and bowls are...
70% of Grocery Shoppers Can Find Foods They Want, While 30% Are Still Experiencing Out of Stocks
The grocery cases and shelves that were left barren in the early days of the COVID-19 pandemic, for the most part, are back to their pre-COVID states. In the week ending May 28, 68% of U.S. grocery shoppers reported to The NPD Group that they hadn’t encountered any out of stocks of the foods and beverages they were shopping for during the week. This wasn’t the case for 32% of shoppers who did experience out of stocks when they shopped for foods and beverages during the week ending May 28, according to the findings of NPD’s NET® COVID-19 Pantry & Food Strategy Tracker...
United Natural Foods Reports Third Quarter Fiscal 2020 Results
United Natural Foods, Inc. reported financial results for the third quarter of fiscal 2020 (13 weeks) ended May 2, 2020.
Third Quarter Fiscal 2020 Highlights
Pandemic's Impact on Imports Easing, but Numbers are Still Below Last Year
The impact of COVID-19 at major U.S. retail container ports appears to be easing slightly, with projected imports remaining below last year’s levels but not as much as previously forecast, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“The numbers we’re seeing are still below last year, but are better than what we expected a month ago,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “It may still be too soon to say but we’ll take that as a sign that the situation could be slowly starting to improve. Consumers want to get back to shopping, and as more people get back to work, retailers want to be sure...
Kroger and Ocado Announce Three Additional Regions for Customer Fulfillment Centers
Kroger and Ocado announced the continued expansion of their partnership with plans to construct three new Customer Fulfillment Centers (CFC) in the Great Lakes, Pacific Northwest and West regions.
"Kroger is incredibly excited to construct three additional industry-leading Customer Fulfillment Centers across the country in relationship with Ocado to bring fresh food to our customers more conveniently than ever before," said Robert Clark, Kroger's senior vice president of supply chain, manufacturing and sourcing. "Through our strategic partnership, we are...
National Retail Federation Announces New Board Members
The National Retail Federation elected two new members to the NRF Board of Directors during its virtual summer board meeting.
The NRF board welcomed Hal Lawton, president and CEO of Tractor Supply Company, and Anish Melwani, chairman and CEO of LVMH Moët Hennessy Louis Vuitton Inc. They will both serve a two-year term until June 2022.
“Hal Lawton and Anish Melwani have shown exceptional leadership during the past few months as our country and the retail industry have faced the coronavirus pandemic and...
Impossible Foods Launches Direct-to-Consumer Sales and Accelerates Retail Expansion
Impossible Foods is launching an all-new e-commerce site today, allowing people in the lower 48 states to buy the award-winning, plant-based Impossible Burger and cook it at home.
The startup’s direct-to-consumer channel offers family-size quantities of the award-winning, plant-based Impossible Burger starting at $49.99 (plus tax). The orders come with compostable and recyclable packaging, free shipping and two-day home delivery.
Impossible Foods has increased its retail footprint nearly 20-fold since the start of 2020, and its flagship product is now available in over...
ANALYSIS: A Jumbo/Medium Chicken Breast Meat Inflection Point
Over the years, medium-sized boneless breasts have enjoyed an unyielding premium over their jumbo-sized counterparts...
COVID-19 Impact on Alternative Protein Industry
The on-going COVID-19 pandemic is re-shaping everything from the global economies to product categories, pricing, and stock availability to consumer behavior.
The pandemic has also placed the spotlight on meat supply and food security globally. The spotlight on meat supply has been evident in both developed and emerging markets amidst disruptions to supply chains and panic buying and stockpiling, following announcements of lockdowns and social distancing measures...
Amazon Air Expands Aircraft Fleet
Amazon continues to adapt to meet the changing needs of customers by investing in ways to provide fast, free delivery. Today, the company announced the lease of 12 Boeing 767-300 converted cargo aircraft from Air Transport Services Group (ATSG). These aircraft will join Amazon’s existing fleet of 70 aircraft to bring its total network to over 80 aircraft. One of the new aircraft joined Amazon’s air cargo operations in May 2020, with the remaining 11 to be delivered in 2021.
Amazon Air’s fleet expansion comes at a time when people in communities across the country continue to adjust to this unprecedented time, with many relying on having the items they need delivered directly to their doorstep. Amazon Air has played a central role during the COVID-19 pandemic by transporting essential PPE supplies for Amazon associates, frontline health workers and...
ANALYSIS: Boneless Pork Loins Broke 3 Records on June 1st
We kicked off June with a bang in the boneless pork loin market. The reactions to COVID-19 continue to produce volatility across the pork market. Having moved to record highs prior to...
Nielsen: Understanding Consumer Sentiment Can Help Companies Adjust as the U.S. Begins to Reopen
Even though the year is almost half over, it’s just now starting to feel like a new year in parts of the U.S., as many states have allowed certain non-essential businesses like restaurants, movie theaters and retail stores to re-open in at least some capacity. We know, however, that many Americans plan to play it safe as businesses come back online rather than immediately jumping back into pre-lockdown behaviors. That’s why companies need to understand evolving consumer sentiment before assuming that open-for-business means business as usual.
The rise in CPG purchases (both on and offline) has been well documented throughout the lockdown period, but we have yet to see how consumers approach visiting non-essential businesses once they’re open again...
Aramark Opens More than 100 Pop-Up Grocery Stores for Frontline Healthcare Workers
As the fight against COVID-19 continues, Aramark is continuing to assist and support frontline workers by opening on-site ‘pop-up’ grocery stores at healthcare facilities across the country, to serve as a one-stop shop for doctors, nurses and hospital staff to grab necessities on their way home. To date, Aramark has opened more than 100 pop-up stores.
The Company is transforming existing retail spaces into grocery stores offering a variety of fresh baked goods, bread, milk, eggs, non-perishable items, paper towels, health & beauty aids and more.
These ‘mini-marts’ stock basic and hard-to-get items that Aramark is able to source through its vast distributor network. By offering a place to shop within their workplace environment...
Uncertainty Surrounds the Reopening of Businesses
While the reopening of businesses shut down because of the coronavirus pandemic is a significant step forward, the rate at which the economy will recover or consumers will feel comfortable resuming activities such as dining out or shopping remains to be seen.
“Is it possible the worst of the coronavirus pandemic is behind us? Maybe, but we are not out of the woods yet, and uncertainty abounds,” said National Retail Federation Chief Economist Jack Kleinhenz.
Kleinhenz added, “Predicting what will happen is even more challenging than usual. While history often helps guide us, previous downturns offer little guidance on what is likely to unfold over the next six to 12 months. There is no user’s manual in which government, businesses or consumers can find...
NAMI's Response to New York Times' "End of Meat" Op-Ed
Like many sectors of the economy, meat and poultry production has been challenged during the COVID crisis. This leads to the popular pundit sport of writing the industry’s eulogy. The most recent comes from vegetarian and author Jonathan Safran Foer here in the New York Times. Safran Foer says COVID-19 has shown that for Americans, the end of meat is here.
From the start of the pandemic, it was clear meat is essential to Americans. Consumers were flooding grocery stores and buying necessities. Meat was among the few key items, like toilet paper and hand sanitizer, which they bought immediately and in historically high quantities. Meat continues to experience...
Costco Reports Financial Results for Third Quarter
Costco Wholesale Corporation announced its operating results for the third quarter (12 weeks) and the first 36 weeks of fiscal 2020, ended May 10, 2020.
Net sales for the quarter increased 7.3 percent, to $36.45 billion from $33.96 billion last year. Net sales for the first 36 weeks increased 7.8 percent, to $110.94 billion from $102.90 billion last year.
Reported net income for the third quarter was $838 million, or $1.89 per share, which was negatively impacted by $283 million pretax, or 47 cents per diluted share, from incremental wage and...
Ranking Member Stabenow Introduces Legislation to Protect America’s Food Supply
U.S. Senator Debbie Stabenow, Ranking Member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, introduced legislation to help protect the food supply after the COVID-19 crisis has put an unprecedented strain on farmers, workers, food banks, and families.
“The COVID-19 crisis has tested the strength of our nation’s food supply chain, creating a ripple effect that’s harming our families, farmers and workers,” said Senator Stabenow. “This bill will help strengthen our food supply by redirecting food to families and helping farmers and processors retool their operations.”
The shift in demand from restaurants and food service to retail and food donations has caused bottlenecks in the supply chain. Meanwhile, outbreaks of COVID-19 in food processing plants have...
ANALYSIS: A Bird’s Eye View of YTD Chicken Production
With mid-year just around the corner, this week we thought it would be a good opportunity to investigate how chicken headcount and average live weights are stacking up against...
Technomic: Turmoil, Uncertainty and Some Relief Expected for Foodservice Over the Next 18 Months
The foodservice industry will experience significant declines in 2020.
The degree of decline will be dependent upon the timing of lifting restaurant closure restrictions, the status of school and college openings in the fall, the degree of travel return and a possible second COVID-19 wave in the fall.
Healthcare and retail hosts will be the strongest performers
In terms of segments, healthcare will perform at the strongest level in 2020, followed by retail hosts (e.g., c-stores, supermarkets) and limited-service restaurants. Retail and healthcare are less impacted by closures and LSR is strongly positioned for off-premise business. The most affected segments are...
Lightlife Reinvents Plant-Based Protein Line with Simpler Ingredients and New Look
Lightlife, owned by Greenleaf Foods, SPC, announced sweeping changes to its product portfolio to deliver the cleanest ingredient labels in the plant-based meat category. Driven by growing consumer demand for products with ingredients they understand, Lightlife is making it easier for consumers to make healthier food choices by offering plant-based meat products made only with simple, recognizable ingredients, like pea protein, brown rice, dried red bell pepper, and beet and cherry powders.
To define its new brand and business strategy, Lightlife conducted a comprehensive research study, connecting with more than 11,500 consumers to better understand their values and expectations from plant-based protein. The study uncovered five unique demand spaces that define specific consumer needs for...
Food E-commerce Market Projected to Reach $498 Million by 2026
Consumer behavior in the food industry is transforming owing to rising e-commerce and technological trends. The food and beverage industry is gradually moving towards e-commerce, that's certain, but its full potential is yet to be exploited.
Infinium global research has recently published a global report on "Food E-commerce Market," the reported study estimated the market for food e-commerce to be USD 138 million in 2019 and is projected to reach up to USD 498 million in 2026, with a Compound Annual Growth Rate of 20.3%, over the forecast period of...
PODCAST: What's Shakin with Bacon? Volatility in the Pork Market
Russell Barton joins the show (from a distance) to discuss the unprecedented volatility in the pork market due to COVID-19. This segment covers retail, foodservice, unemployment, exports, and more...
Conagra Brands Recalls Frozen Not-Ready-To-Eat Chicken and Turkey Bowl Products
Conagra Brands, Inc., Russellville, Ark. and Marshall, Mo. establishments, are recalling approximately 276,872 pounds of not ready-to-eat chicken and turkey bowl products because the products may contain extraneous material, specifically small rocks, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.
The scope of this recall has been expanded to include Healthy Choice Power Bowls Chicken Feta & Farro Bowls, Healthy Choice Power Bowls Unwrapped Burrito Scramble Power Bowls, and Healthy Choice Power Bowls Turkey Sausage & Egg Scramble Power Bowls produced on various dates. The products were produced at two different establishments.
The following additional products are subject to recall...
Field Roast Expands Frozen Portfolio with Plant-Based Nuggets
Field Roast Grain Meat Co, owned by Greenleaf Foods, has added Plant-Based Nuggets to its portfolio of frozen plant-based appetizers and entrees. The crispy, bite-size nuggets feature a bold, inspiring taste and expand the brand’s frozen portfolio that also includes Fruffalo Wings and Miniature Corn Dogs.
“Remember the joy that a chicken nugget could bring you as a kid?,” said Dan Curtin, president of Greenleaf Foods. “We’re bringing that back with an absolutely delicious plant-based nugget...
BJ’s Wholesale Club Announces Record First Quarter Fiscal 2020 Results
BJ’s Wholesale Club Holdings, Inc. announced its financial results for the thirteen weeks ended May 2, 2020.
“Our top priority remains the health and safety of our members and team members during this challenging time and I am deeply thankful for the contributions of our dedicated team members this past quarter,” said Lee Delaney, President and Chief Executive Officer, BJ’s Wholesale Club. "While the coronavirus pandemic increased demand for our services, our team's hard work and the capabilities we have built over the last four years have enabled us to...
Has the Coronavirus Caused Consumers to Adopt New Eating Behaviors?
Although social distancing measures have forced many people to stay indoors and start experimenting in the kitchen, the verdict is mixed on home cooking. According to Datassential, two in five consumers did not actually start cooking more often. However, about 35% found joy and excitement in discovering new dishes, yet more than a third of Gen X and households with children are sick of having to cook more often for their families.
For the most part, the pandemic has encouraged very few consumers to adopt new shopping and dining strategies, the rest are maintaining their prior routines. Online grocery shopping and grocery delivery have benefited the most from these new trials, with 21% trying grocery pickup for the first time, and...
ANALYSIS: Fresh Tom Breast Meat: A Seasonal Assessment
Following a sluggish start to this year’s meat trade environment, marketers are finally embracing the return of...
SNAP Online Purchasing to Cover 90% of Households
U.S. Secretary of Agriculture Sonny Perdue today announced that households in 13 new states – Connecticut, Georgia, Illinois, Indiana, Maryland, Massachusetts, Michigan, New Jersey, Ohio, Oklahoma, Pennsylvania, Tennessee, and Virginia – will soon be able to purchase food online with their Supplemental Nutrition Assistance Program (SNAP) benefits. Once operational, online purchasing will be available in 36 states and the District of Columbia, home to more than 90% of SNAP participants. In addition, Secretary Perdue also announced an expansion of independently owned and operated retail stores beyond those included in the original pilot. Soon more SNAP authorized retailers, under...
Nestlé Introduces New Life Cuisine
Nestlé is introducing Life Cuisine, an exciting new brand delivering delicious and satisfying meal solutions to match the approach to eating well. From gluten-free to high-protein, Life Cuisine is made with flavorful ingredients that help power your day.
Over the years, the definition of wellness has evolved from calorie-conscious eating to a more holistic approach that extends well beyond just what's on your plate. Once-niche dietary trends like gluten free and meatless meals have also...
Hormel Natural Choice Lunch Meat Announces New Hardwood Smoked Product Line
The makers of Hormel Natural Choice premium lunch meat have launched a new line of slow-smoked products called Natural Choice hardwood smoked lunch meats. These expertly crafted products – smoked in netting over real wood chips for over four hours – include exciting flavors like applewood ham, applewood turkey with garlic and herbs, pecanwood ham with sweet black pepper and pecanwood ham with brown sugar.
"We leaned into the real smoke and premium ingredients with this line and are offering consumers that great hardwood smoked flavor, without having to fire up the smoker," said Samantha Hovland, Natural Choice brand manager. "Lunchtime is a busy time for people, so we're helping...
Walmart Releases Q1 FY21 Earnings
Walmart's net sales and operating results were significantly affected by the outbreak of COVID-19.
Unprecedented demand for products across multiple categories led to strong top-line results. Certain incremental costs negatively affected operating income, including costs associated with enhanced wages and benefits as well as safety and sanitation.
Total revenue was $134.6 billion, an increase of $10.7 billion, or 8.6%. Excluding currency, total revenue would have increased 9.7% to reach $135.9 billion.
Walmart U.S. comp sales increased 10.0%, led by strength in food, consumables, health & wellness and...
JUST Announces Partnership with Post Holdings’ Michael Foods
JUST and Michael Foods, a subsidiary of Post Holdings and one of the largest processors of value-added eggs in the world, announced a groundbreaking new partnership to bring the top-selling, plant-based JUST Egg to millions more consumers in the United States.
Under the arrangement, Michael Foods will be the exclusive manufacturer, supplier and distributor of JUST Egg to foodservice and food ingredient customers who are already familiar with their industry-leading egg brands such as Papetti’s, Abbotsford Farms and Davidson’s Safest Choice and are in search of a unique, plant-based egg product.
For over 100 years, the Michael Foods family of businesses have leveraged quality ingredients and cutting-edge processes to offer the finest products and solutions to their customers. This partnership adds...
Still Concerned About COVID-19, U.S. Consumers Will Want More from Convenience Stores
Across the U.S. retail landscape, the convenience channel has been the offline channel to watch over the past year. With the country in the throes of the COVID-19 pandemic, the convenience channel is poised to be even more dominant as stay-at-home restrictions are lifted.
Last November, Nielsen forecasted that the U.S. convenience channel would grow faster than all other offline channels over the next five years. When we look at the importance of proximity to our homes and the desire among many to avoid large crowds, convenience stores have the ability to write their own future. To do so, they need to embrace the opportunity to expand beyond categories traditionally expected from the channel. Baking staples, for example, aren’t common on the shelves at most C-stores, but...
Postmates Introduces Curbside Pickup For Restaurants And Retailers
Postmates announced an industry first: Curbside Pickup. This new pickup product for merchants is meant to help responsibly accelerate reopening of local businesses by enabling customers and fleet to pick up orders curbside, rather than going into the physical store -- a capability that most businesses don't currently have today.
"Restaurants and retailers across the country are ready to open their doors again and we've created Curbside Pickup to help them open quickly and serve customers as smoothly as possible," said Bastian Lehmann, CEO and co-founder of Postmates.
To use this feature, the merchant will...
April Retail Sales Drop Nearly Twice as Much as March During Coronavirus Pandemic
Retail sales dropped almost twice as much during April as they did in March as the nation’s economy saw its first full month when most businesses were closed because of the coronavirus pandemic, the National Retail Federation said.
“As predicted, retail sales were bad in April and lower than in March,” NRF Chief Economist Jack Kleinhenz said. “This should come as no surprise since April was the first full month when most businesses not considered essential were closed, both in retail and across the economy. But month-to-month comparisons provide little insight other than indicating that most of the economy was on lockdown. Now that we’re in mid-May, many businesses are already starting to reopen. Relief payments and pent-up demand should provide some degree of post-shutdown rebound, but...
Kroger Hires More than 100,000 Workers Through Expedited Hiring Process
Kroger announced it has hired more than 100,000 workers in the past eight weeks, including those from the hardest-hit sectors like restaurants, hotels and food service distributors. Prior to the crisis, Kroger's workforce topped 460,000 associates and recent hiring efforts have helped the retailer to provide continuous access to fresh, affordable food and essential products to communities during the pandemic.
"Throughout the pandemic, Kroger's top priority has been to provide and maintain a safe environment for our associates and customers with open stores, comprehensive ecommerce solutions and an efficiently operating supply chain," said Rodney McMullen, Kroger's chairman and CEO. "Since March, we have invested to...
ANALYSIS: Seasonal Draw, or Supply Side Flaw?
As the immediate shock of COVID-19 begins to subside, market participants look to the stats in an attempt to...
Consumers Continue to Purchase Meat from Restaurants and Retail Despite Coronavirus Concerns
Fear of the unknown proved to be true when observing consumers’ reaction to the emergence of COVID-19. When the virus first made its way to the United States, panic ensued. Grocery store shelves were depleted, and necessities like toilet paper were nowhere to be found. Consumers have come accustomed to finding resourceful solutions and are willing to be more flexible than ever before.
However, the coronavirus has thrown yet another curveball, with many meatpacking plants either temporarily closing or reducing operations. While consumers have stocked up on meat, there seems to be less panic this time around.
When Datassential asked consumers what best describes the way they eat today, nearly 69% described themselves as...
PODCAST: Scrambling for Eggs? Volatility In the Egg Market
This week Laura returns to the show to discuss the volatility in the egg market due to Covid-19 with Brian Moscogiuri. They cover supply issues, retail demand, typical seasonal factors, and more...
Imports to See Double-Digit Annual Declines Even as Stores Begin to Reopen
Imports at major U.S. retail container ports are expected to see double-digit year-over-year declines this spring and summer as the economic effects of the coronavirus pandemic continue, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
“Factories in China are largely back online and stores that closed here in the U.S.. are starting to reopen, but volume is far lower than what we would see in a ‘normal’ year,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Shoppers will come back and there is still a need for essential items, but the economic recovery will be...
The Consumer Perspective on the Potential Meat Shortage
As warnings of a potential meat shortage seem to dominate headlines, consumers may begin to panic buy and stockpile proteins in case supply chain disruptions due to COVID-19 lead to empty meat cases at the grocery store. While retailers did see aisles that include toilet paper, paper towels, and cleaning products wiped out at the height of the pandemic, it is possible that consumers have already purchased meat products in bulk.
According to a recent survey conducted by Datassential, about 77% of consumers have at least one week's supply of meat on hand. This is followed by 26% having enough meat in the home to last about two to three weeks. Only 7% of respondents have run out of meat and will be purchasing more. Additionally, some shoppers purchased enough meat to last...
ANALYSIS: Shell Egg Prices Come Under Pressure as Retail Demand Slips, Supplies Mount
U.S. shell egg prices are coming under pressure once again as retail demand begins to ease and supplies become increasingly available. After holding steady for...
Applegate Farms Unveils Well Carved Product Line
Applegate introduced a new line of organic blended burgers and meatballs designed to satisfy consumers who are mindful of their meat intake. The new, chef-crafted Well Carved product line combines meat with whole vegetables, legumes and grains, and continues the brand’s mission – Changing The Meat We Eat.
“The Well Carved product line is a bold, direct challenge to the newly established wisdom that the only way to eat meat responsibly is to settle for a highly processed soy or pea-based burger—or to not eat meat at all,” said John Ghingo, president of Applegate. “Well Carved products offer a way for consumers to enjoy the real, clean meat they crave along with the vegetables that promote health and a healthier planet.”
To that end, all Well Carved products are made exclusively with organic meat and vegetables, and none of the...
Impossible Foods Accelerates Retail Expansion with Kroger
Impossible Foods is accelerating its retail expansion this week with the rollout of its flagship product at more than 1,700 grocery stores nationwide owned by The Kroger Co., America’s largest grocery retailer.
In addition to grocery shelves at Kroger-affiliated brick-and-mortar stores, Impossible Burger is also available starting today for online ordering through Kroger.com for Kroger Curbside Pickup and Delivery.
The rollout of Impossible Burger at Kroger represents a 18-fold increase in Impossible Foods’ retail footprint so far in 2020. The company’s award-winning, plant-based meat is now on shelves in about...
COVID-19 Impact on the Plant-Based Meat Market
According to MarketsandMarkets, the global plant-based meat market size is projected to grow from $3.6 billion in 2020 to $4.2 billion by 2021, recording a compound annual growth rate of 17.0% in the realistic scenario during the forecast period.
The pea segment is projected to be the fastest-growing segment in the plant-based meat market during the forecast period.
The use of pea in plant-based meat has gained significant prominence over the past two years, driven by companies such as Beyond Meat (US), R&S Blumos (Brazil), and other regional players who are...
Rabobank: Impact of Coronavirus on Southeast Asian Food & Agribusiness
Southeast Asia will face far-reaching challenges from the impacts of the coronavirus outbreak, such as economic decline, reduced out-of-home consumption, and supply chains disruptions, even beyond the lockdowns.
After panic buying, consumers will shift from foodservice to retail and – after a short, suppressed splurge (if any) – to recession-period spending.
Production will also be affected, albeit less, but transporting goods will continue to experience problems due to...
U.S. Plant-Based Retail Market Worth $5 Billion, Growing at 5X Total Food Sales
New data released today by the Plant Based Foods Association (PBFA) and The Good Food Institute (GFI) shows U.S. retail sales of plant-based foods have grown 11.4 percent in the past year, bringing the total plant-based market value to $5 billion.
The total U.S. retail food market has grown just 2.2 percent in dollar sales during this same period—and was flat in unit sales—showing that plant-based foods are a key driver of growth for retailers nationwide. This data covers the total grocery marketplace and was commissioned from SPINS.
The leading drivers of plant-based sales continue to be plant-based milks, meat, dairy alternatives in general, and plant-based meals. Sales of plant-based milks grew 5 percent over the past year, now making up 14 percent of...
JUST Expands Partnerships Globally, Raises Capital & Adds Former Coca-Cola Executive
JUST announced a host of partnerships to manufacture and distribute its JUST Egg across North America, Latin America, Europe, and East Asia. This global infrastructure, which includes millions of additional points of potential distribution and access to production facilities on multiple continents, will provide the scale needed to meet the increasing worldwide demand for the product.
Included in this partnership announcement are South Korea’s food company, SPC Samlip; one of Southeast Asia’s largest food companies, Betagro Group; bakery company, Grupo Bimbo; one of Latin America’s largest edible oil and fat producers, Alianza Team; and local delivery platform, Delivery Hero. This infrastructure builds on a previously announced manufacturing and distribution partnership with...
Beyond Meat Announces National Retail Launch of Beyond Breakfast Sausage
Beyond Meat announced its latest product innovation, Beyond Breakfast Sausage, will start to hit retail shelves by the end of March. Beyond Breakfast Sausage is a new plant-based breakfast sausage featuring 11 grams of protein per serving.
Available in two flavors, classic and spicy, this breakfast option offers the taste of traditional pork breakfast sausage.
Perfect for busy mornings, Beyond Breakfast Sausage is a quick and convenient plant-based option that goes from...
New Plant-Based Protein Brand OZO to Debut Nationwide this April
New plant-based protein brand OZO, powered by start-up Colorado business Planterra Foods, is making its debut at grocery stores nationwide beginning in April, providing consumers with a clean protein option that delivers exceptional taste and nutrition. Where superior taste meets convenience, OZO is raising the bar on plant-based protein offerings for today's consumer who doesn't want to compromise flavor to eat well.
The new line of plant-based products will officially launch with Burgers, Ground, Mexican-Seasoned Ground and Italian-Style Meatballs, and foodservice and club packs are also planned for 2020. The four OZO protein offerings are non-GMO, do not contain soy, and feature transparent, straightforward...
Lightlife and Field Roast Bring More to the Table with New Plant Based Breakfast Sausages
Greenleaf Foods is transforming the growing breakfast category with a nationwide retail launch of three plant-based breakfast sausage products from its Lightlife and Field Roast Grain Meat Co brands. The new, innovative products were created to continue the brands’ common goal: to pioneer the plant-based category by putting plants at the center of the plate.
“Breakfast is an important part of the day, and until now, there has not been many plant-based protein options available,” said Dan Curtin, president of Greenleaf Foods, SPC. “We’re reinvigorating the plant-based breakfast space with new delicious items from Lightlife and Field Roast.”
Lightlife is introducing Plant-Based Breakfast Sausage Links and Plant-Based Sausage Patties that offer...
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