Thursday, June 20, 2024

Sticker price shock report for beef

Higher prices have not completely turned consumers toward proteins other than beef, according to research from the Cattlemen’s Beef Board (CBB) and its national Beef Checkoff program in the United States.


Consumers are more focused on value, a decline in consumer sentiment and a decreased ability to save, according to an opinion piece by CBB member Jeri Hanson published in Drovers Farm Journal


Hanson said summer barbecue season accounts for 30 per cent of beef sales and they are more likely to purchase cheaper cuts, use more coupons and seek out deals, but 96 per cent still plan to grill this summer.


The Beef Checkoff survey also found that some form of online grocery shopping continues to play a role for 57 per cent of survey respondents, prompting the Beef Checkoff to launch e-commerce partnerships with national grocery chains. 


These relationships are allowing the organization’s marketing team to track consumer activity from the sighting of an ad for beef to a subsequent beef purchase, which offers a direct return on investment, Hanson wrote.