Prices fell and sales were sluggish in November, frozen shrimp sales in the U.S. market fell by 7.2%

Frozen Common Shrimp & Prawn

Seafood

United States

Market & Price Trends

Published Dec 17, 2023

Tridge summary

Retail seafood sales in the U.S. continued to decline in November, despite falling prices for fresh and frozen seafood. Though prices for fresh and frozen seafood decreased, they are still significantly more expensive than other animal protein options. Consumer confidence remains low, leading to a focus on money-saving options and a decrease in discretionary spending.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

U.S. retail seafood sales fell further in November, continuing a more than year-long trend of declining consumer demand, despite falling prices for fresh and frozen seafood. Last month, the average price per pound of fresh seafood fell 2.5% from a year ago. The price of frozen seafood fell 1.3%, according to new retail scan data from market research firm Circana (formerly IRI) and analyzed by 210 Analytics . “However, at an average price per pound of $9.19 (€8.44), it is significantly more expensive than the three largest categories: chicken ($2.99/€2.75), pork ($3.21/€2.95) and beef ($6.44/€5.92). the price of animal protein," said Anne-Marie Rollinck, CEO of 210 Analytics. Consumer confidence is a key indicator of the future strength of the U.S. economy and consumer spending, but it remains insufficient, according to data from the University of Michigan. With value being a top consideration, consumers are looking for money-saving options. According to ...

Source: Foodmate