Read up on what’s happening with beef, including the latest retail trends and sales data.
Looking for ways to boost your bottom line? Start here to find no-nonsense information about what’s driving sales nationwide.
Nearly every consumer has been impacted by the volatility of goods and services during 2022. As consumers have grappled with these changing market dynamics, shifting preferences have emphasized versatility, affordability, and convenience. These shifts can be observed within the beef retail market, as purchases have gravitated towards ground beef products and away from more premium cuts, such as steaks and roasts.
The 2022 holiday shopping season is fast approaching. As temperatures begin to drop, demand for virtually every good normally starts to heat up. However, current economic uncertainty and volatile retail prices have hamstrung household budgets, left consumers feeling frustrated, and retailers feeling uneasy.
Inflation, or the increase in prices consumers pay for goods and services, has been one of the most talked about topics of 2022. Most common consumer goods have experienced abnormal price increases to some degree. While the causes of inflation rates not seen since the 1980s have been debated far and wide, the results are indisputable: consumers have experienced a greater strain on their incomes and household budgets than they likely have in some time.
Beef steak has historically been a popular cut among beef consumers, both at retail and foodservice. While beef steak may be associated with a higher average price compared to other protein products, a consistently satisfying eating experience continues to drive its popularity.
In this highly competitive retail environment, it is important for retailers to highlight products that drive more dollars to their bottom line. We partnered with NielsenIQ, a syndicated data provider, to conduct a study utilizing their Homescan panel made up of 125,000 consumers. The panel study surveyed retail grocery shoppers and covered three main areas including shopping habits, a "cross-purchase analysis", and a demographic profile.
Use these real-world resources to make more informed choices for your business.
Health and nutrition are top of mind for consumers and can be a barrier when deciding to purchase beef. With more dietitians working in retail grocery, there's an opportunity for meat departments and dietitians to work together to help consumers understand the meat case, the nutritional benefits of beef, enhance food safety and provide meal solutions.
Catch the latest on beef retail sales and insights for your business.
Despite what has been considered a period of mass uncertainty amid volatile market conditions, consumers are still appearing eager to enjoy social activity and occasions to fire up their backyard barbecues. According to a Beef Checkoff funded survey, consumers are planning on grilling 10 times per month this summer, up 0.8 occasions (8.3%) compared to last year.
Some of the greatest tools that retail stores possess to drive consumer demand include various promotional incentives, such as circulating advertisements or digital circulars featuring items, displaying items in prominent positions or with signage in the stores, coupons, and markdowns. These different promotions help draw shoppers’ attention to store departments and the fresh meat department is no exception.
When a consumer enters a retail store, they have more options today than ever before. Fresh beef receives a lot of focus from consumers and the beef industry is diverse and innovative in the fresh products it offers. Whether it is aging, USDA grade, or what breed of cattle the beef was derived from, consumers can find products in their local retail store to satisfy their needs.
Consumers see Ground Beef as a versatile, affordable, and frequent meal option. According to the Beef Checkoff-funded Consumer Beef Tracker, nearly 60% of consumers eat Ground Beef as an ingredient and over 50% consume a hamburger at least weekly. There is no doubt shoppers demand a wide variety of options when it comes to food purchases, and Ground Beef rises to this challenge.