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Seafood sales in the UK retail sector continue to decline as prices soar

 Last Update: 2023-01-04
 Source: Internet
 Author: User

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In the 52 weeks to 8 October, UK fish and seafood retail sales saw both volume and value decline, further suggesting that consumers are feeling the pressure
of soaring inflation.

Total fish and seafood sales amounted to 398,473 tonnes during the period, valued at more than £4 billion (€4.
6 billion/US$4.
8 billion), down 5.
3% and 4.
2%
respectively.
Meanwhile, according to the latest data from market research firm Nielsen, sales fell by 7.
5%.

In the cold storage category, sales fell by 3.
8%, sales by 7.
7%, and sales by almost 8%.

Coincidentally, the average price per kilogram of chilled seafood rose by 4.
2% to £14.
05 (€16.
30/$16.
90), and the average price per piece rose 4.
4% to £3.
37 (€3.
90/$4.
10)
over the same period.

Despite being a cheaper category, frozen seafood changed even more as prices rose, with sales down 6.
9% to £994.
7 million (€1.
2 billion/US$1.
2 billion) and volumes down 10.
3% to 129,235 mt
.
Sales of frozen seafood fell by 11%.

Here, the average price per kilogram rose by almost 4% to £7.
70 (€8.
90/$9.
30) and the unit price rose 4.
5% to £2.
81 (€3.
30/$3.
40).

On the other hand, sales of canned and shelf-stable seafood — a traditional refuge in the recession — soared nearly 10% to 89,568 tons
.
However, the value of these sales was relatively flat at £546.
4 million (€634.
7 million/$657.
7 million).

According to Nielsen, the average price per kilogram in the seafood category fell by 8.
7% to £6.
10 (€7.
10/$7.
30), with each price rising by 3% to £1.
41 (€1.
60/$1.
70).

As prices rose across the board, sales of all major products declined in volume and value during this period – with the exception of tuna, which was sold
mainly at ambient temperatures.
Total salmon sales fell 2% to GBP 1.
2 billion (€1.
4 billion/US$1.
4 billion) and volumes fell 7.
6% to 68,458 metric tons
.
Sales decreased by 7.
8%.

The retail price of salmon per kilogram rose 6.
2% to £17.
57 (€20.
40/$21.
10) and the unit price rose 6.
4% to £3.
97 (€4.
60/$4.
80).

Similarly, cod sales fell almost 9% to £472.
5 million (€548.
8 million / $568.
7 million) and volumes fell 11.
5% to 53,525 tonnes
.
Sales fell nearly 12%.

During this period, retail cod in the UK rose by an average of 3% per kilo to £8.
83 (€10.
30/US$10.
60), while prices per average rose by 3.
4% to £3.
15 (€3.
70/US$3.
80).

Conversely, tuna sales were flat at £409 million (€475.
1 million/$492.
3 million), but volumes rose 13.
4% to 69,871 tonnes
.

The price of tuna per kilogram fell by 12% to £5.
86 (€6.
80/$7.
10).

However, with the unit price rising 3% to £1.
86 (€2.
20/$2.
20), sales fell by 3.
1%.

As a result of the overall price increase, the sales and value of shrimp, haddock and cod have also declined
.
Cod, generally a more affordable whitefish product, saw sales down 2.
2% to £174 million (€202.
1 million/$209.
4 million) and volumes down 8.
2% to 31,569 tonnes, while an average price per kilogram rose 6.
5% to £5.
52 (€5.
87/$6.
08).

Sales down 7% and average unit price up 5% GBP 2.
14 (EUR 2.
50 / USD 2.
60).

It is worth noting that as prices rise, discount stores account for an increasing
share of the seafood trade.
Aldi is now the UK's third largest seafood retailer with a 12.
4% share, followed by Lidl with a 9.
2% share
.
For frozen seafood, Aldi is now the second-largest retailer in the country with a 15.
7% share, while Lidl now has a 10.
4% share
.

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