Twelfth Annual Power of Meat Study Reveals Deflation is Changing Retail Meat PurchasesWednesday, February 22, 2017
(North American Meat Institute)
The Foundation for Meat and Poultry Research and Education and the Food Marketing Institute (FMI) today released the 12th annual Power of Meat Study, finding that price relief is driving a greater willingness for experimentation and premium product meat purchases among consumers.
The study results indicate that thoughtful curation of the meat case tailored to shopper needs, trends and innovation can influence incremental sales and provide the industry with opportunities to foster high levels of satisfaction, while driving spending and loyalty. The study, for instance, found that selling meat as part of a total meal solution in ready-to-prepare meal kits drew consumer interest and has the potential to yield increased sales.
In addition, value-added meat and poultry saw robust volume increases in 2016. Better communication by retailers about the grade, handling practices, prices and convenience of these products may help accelerate further growth, according to the study.
Furthermore, the study underscores the need for food retailers and suppliers to continue to tell a story about the meat purchase by increasing in-store promotions, with a particular focus on digital, mobile and social media promotions. While consumers are increasingly switching from traditional channels for their meat purchases, 62 percent still choose the supermarket to make a meat and poultry purchase.
The report, conducted by 210 Analytics, LLC, in partnership with The Cryovac Brand, a part of Sealed Air's Food Care Division, examines meat purchasing, preparation and consumption trends through the eyes of the shopper. It was unveiled at the Annual Meat Conference in Dallas, Texas. The full report is available for purchase here. The report's top 10 findings are summarized here.
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