US: Monster month of July for the meat department

Published 2024년 8월 15일

Tridge summary

Consumer media headlines in June and July of 2024 highlight a shift towards home-cooked meals due to financial constraints and a tight job market, with consumers also incorporating grocery deli-prepared foods. Inflation data for July 2024 shows an overall increase of 1.5% in food and beverage prices compared to the previous year, with fresh items experiencing higher inflation rates. The meat department saw a 2.3% increase in prices year-over-year, with strong sales despite the higher prices. The assortment in meat departments has remained steady, averaging 424 SKUs in July 2024. Both beef and processed meat experienced strong sales in July, with chicken and lamb also showing positive trends. Ground beef, in particular, had a notable increase in sales during the month.

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

Original content

The June and July consumer media headlines reflected the ongoing pressure on restaurants. Tight finances and mounting job market pressure have led to lower consumer confidence and more trips to the grocery store. Consumers are making more home-prepared meals across all occasions, but also integrate grocery deli-prepared foods and meals more often as they balance money against time, nutrition, mood, sustainability and more. Inflation insights In July 2024 (the four weeks ending 7/28/2024), the price per unit across all foods and beverages in the Circana MULO+ universe stood at $4.22, an increase of 1.5% versus July 2023. This is also a slight uptick from the 1.3% price increase seen in June. Prices in the fresh perimeter were up 2.3% year-over-year in July. This marks the first time in quite a while that fresh item inflation was higher than that in the center of the store that averaged an increase of 0.9% year-on-year. The average price of $4.22 is 34.8% higher than the 2019, ...

Source: Provisioner