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The IRI and 210 Analytics survey found that the average price per unit of fresh seafood rose 15% in April, up from a 11% increase in Mar.
The average price of finfish was more than $10, up 29%, and the price of fresh shellfish was up
Affected by this, sales of fresh seafood fell 18% to $493 million in Apr.
The average price of finfish was more than $10, up 29%, and the price of fresh shellfish was up
Affected by this, sales of fresh seafood fell 18% to $493 million in Apr.
According to Anne-Marie Roerink, head of 210 Analytics, seafood sales are now higher than pre-pandemic levels, but sales lag behind 2019 levels, with shellfish sales 16% below April 2019 leve.
Anne-Marie Roerink expects seafood prices to rise further, especially for crab, cod and Alaska pollo.
These factors will continue to weigh on food sales in the coming months due to the Russian-Ukrainian conflict, record inflation, labor shortages and supply chain challeng.
These factors will continue to weigh on food sales in the coming months due to the Russian-Ukrainian conflict, record inflation, labor shortages and supply chain challeng.
Despite higher prices, sales of frozen seafood rose 8% year-on-year, with sales of frozen fish and raw shrimp up 9% and 2%, respectively, but frozen deli seafood fell 2% in Apr.
Frozen seafood remained the largest volume of all frozen animal protein products, but experienced the lowest growth, with unit sales down
Canned seafood sales rose 6% to $223 million, with volume up
Canned seafood sales rose 6% to $223 million, with volume up
Anne-Marie Roerink said that in today's inflationary times, frozen and canned seafood has two advantages over fresh seafood, the biggest of which is shelf life, fresh seafood needs to be eaten or refrigerated within a few days of purchase, But frozen and canned seafood has almost no time lim.
Another major advantage is unit price and price perception, with Anne-Marie Roerink noting that many consumers perceive frozen food to be cheaper than fresh fo.
In some cases this is true, but in some cases it really doesn't make much of a difference but perception is reali.
What's more, frozen and canned foods have better unit prices, which underscores their price advanta.
In some cases this is true, but in some cases it really doesn't make much of a difference but perception is reali.
What's more, frozen and canned foods have better unit prices, which underscores their price advanta.
According to a new report from First Insight, the issue of inflation affects nearly every assortment in grocery stores, with 75% of consumers saying their confidence in spending has declined as inflation hit a 40-year high; 37% said, They will reduce meat and seafood consumption in response to rising prices; 41% will reduce purchases of brand-name products; 34% will reduce snack purchases; 29% will reduce alcohol and spirits of purchases; 26% of consumers will reduce their purchases of organic produc.
IRI's April consumer survey showed that 35% of consumers said they were cutting back on spending at restaurants, while 78% of consumers were cooking at home, down slight.
That suggests consumers are eating out slightly more at restaurants than they did between December and February, but they are finding ways to reduce their spendi.
That suggests consumers are eating out slightly more at restaurants than they did between December and February, but they are finding ways to reduce their spendi.
