Economic conditions have had a substantial impact on how Americans shop for meat and poultry, particularly those who are worse off financially in comparison to last year, according to FMI – The Food Industry Association’s annual Power of Meat report.
“Money-saving measures are widespread, some favoring retailers, whereas others affect where, what and how much meat and poultry people buy. Looking for promotions, price comparisons, channel shifting, along with efforts to prevent food waste, are among the key measures to save.”
Fifty-three percent of shoppers have in mind what they want to buy and look for a matching promotion, according to Power of Meat.
Grocery store apps are now used by 40% of consumers to check promotions, up from 13% in 2015, and 34% of total pounds were sold on promotion in 2023, up 8.5% from 2022.
Per pound discounts and BOGOs are the consumer-preferred discount types, according to FMI. Thirty-seven percent of people purchased meat in larger quantities to freeze and use over time in 2023, up from 28% in 2022.
“Freezing habits signal package innovation opportunities in regards to shelf-life, portions and being freezer-ready,” FMI recommends to retailers in the report. Price is the top deciding factor in where consumers buy their fresh meat and poultry.
Consumer insights from Power of Meat 2024
- 53% of shoppers have in mind what they want to buy and look for a matching promotion, according to Power of Meat.
- Grocery store apps are now used by 40% of consumers to check promotions, up from 13% in 2015
- 73% of consumers have made changes to how much, what, where and what brand of meat and poultry they purchase.
- 34% of total pounds were sold on promotion in 2023, up 8.5% from 2022.
- 37% of people purchased meat in larger quantities to freeze and use over time in 2023, up from 28% in 2022.
This article is an excerpt from the August 2024 issue of Supermarket Perimeter. You can read the entire Value feature and more in the digital edition here.
