Monster month for the meat department in the US in October 2024

Published 2024년 11월 22일

Tridge summary

In October 2024, the price of all foods and beverages increased by 2.2% compared to the previous year, with fresh food increasing by 2.8% and center-store food by 2.0%. The average price per unit is 37.0% higher than the pre-pandemic baseline of 2019. The meat department saw a 1.9% increase in the average price per pound year-over-year. Beef and hot dogs became more expensive, while prices for lamb, bacon, and processed chicken decreased. Despite inflation, meat department sales rose by 5.4% and fresh meat sales by 8.0%, generating $10.0 billion in revenue. The assortment in the meat department remained steady with an average of 425 SKUs in October 2024.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

October in review Inflation insights In October 2024 (the five weeks ending 11/3/2024), the price per unit across all foods and beverages in the Circana MULO+ universe stood at $4.29. This reflects an increase of 2.2% over October 2023. While fresh food (+2.8%) increased more than center-store (+2.0%) prices, the gap narrowed in October compared to the last few quarters. Compared to the pre-pandemic baseline, the average price per unit of $4.29 is 37.0% higher than the 2019 average of $3.13. October inflation also accelerated a bit in comparison to the third quarter of the year, when prices increased 1.8% across all food and beverages. The average price per pound in the meat department across all cuts and kinds, both fixed and random weight, stood at $4.67 in October 2024, up 1.9% year on year. Processed meat prices rose the least in October, at a mere +0.1%. October brought a mix of price movements. Beef and hot dogs increased further, but it was fresh exotic (which includes ...

Source: Provisioner