Supermarket Perimeter - February 2024 - 18

Meat
IS HAVING A MOMENT
A Q and A with Rick Stein, vice president, fresh foods, FMI - The Food Industry Association
Grocery meat
departments
have adapted well
to inflationary
times, said FMI's
Rick Stein.
meat and poultry purchases due to
online sales. We'll also be monitoring
the integration of AI in the meat
and retail industries that support
efficiencies, packaging advancements,
labor optimization, and the evolving
preferences of today's consumers.
What are some of the meat industry
trends FMI will be keeping a close
eye on in 2024?
Appearance and quality, price per
pound, and total package price were
the top purchase considerations for
2023. Looking forward to 2024,
we'll be paying close attention to not
only purchase considerations, but
also shopper strategies and trends
surrounding meat purchases. Our
most current research shows that
85% of meat shoppers consider at
least one " better-for " attribute when
buying meat, and 52% try to do their
part for the environment. Other
trends to watch include increases
in private brands purchases, more
thoughtful approaches to meat
purchases and trends around changing
18 - FEBRUARY 2024
How are the current inflationary
pressures affecting grocery meat
sales, and what will retailers and their
supplier partners do next year to
make sure products are at the right
price points?
The meat department considered
new and inventive ways to support
shoppers during inflationary times,
such as adaptations in packaging,
species, cuts and brands of meat and
poultry purchases, and importantly,
teaching their customers how to save
and cook new proteins. Still, valueadded
and fully cooked meat products
continued to thrive despite economic
pressures, suggesting that meat
retailers and suppliers will continue to
balance the cost of production against
economic fluctuations, ensuring prices
and convenience options remain
competitive. Bottom line: assortment
variety is pivotal in keeping meat on
supermarketperimeter.com
the menu and creating excitement in
those categories.
Are there particular meat and poultry
products, packaging solutions,
merchandising ideas, etc., that FMI
is excited about heading into 2024?
With increasing attention on private
brands, and 63% of shoppers
preferring private brands when
shopping for fresh meat and poultry
products, we're curious to see what
research reveals about opportunities
in the private brands space in 2024.
Additionally, the evolving value matrix
of the grocery shopper presents a
real opportunity for food retailers
and suppliers - particularly in the
meat industry. Sixty-two percent
of meat/poultry shoppers look for
products that are better for their
health, and about one-third consider
animal welfare, the planet and social
responsibility. Four in ten meat
shoppers occasionally purchased meat
or poultry that feature production
claims, such as organic, free range,
grass-fed or locally raised. Millennials,
in particular, over-index for valueadded
meat and poultry items. This is
an opportunity for the meat industry
FMI, Nicholas J. Klein - stock.adobe.com
http://www.supermarketperimeter.com
Supermarket Perimeter - February 2024

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