The seventh Power of Meat study was released this week, revealing that shoppers are more price-driven than ever and are doing more comparison-shopping before and after they enter the store. What the survey did not show, however, was any significant shift from one protein to another based on price.
The study, conducted by 210 Analytics with feedback from 1,340 consumers, showed price per pound has solidified its No. 1 ranking as the most important decision factor for consumers, while total package cost is now the second-most important decision factor, surpassing product appearance.
For the first time, this year the share of shoppers simply opting to buy less (and thus spend less) equaled the share of shoppers using lists, coupons and other saving measures. In terms of meat and poultry, dollar sales increased by 2.5 percent, but volume sales decreased by 5.3 percent as a result of inflation across proteins.
As they focus on price, a growing share of shoppers are engaging in pre-trip research and planning meals around promotions. However, an even greater share compares prices while in the store. The emphasis on in-store purchasing decisions makes clear signage all the more important. Price-related promotions are especially effective for steering people to a certain kind of meat or poultry and slightly less effective for the amount purchased.
Reprinted in part from meatingplace.com