Supermarket Perimeter - February 2024 - 67

SALMON
WHILE SALMON PRICES ARE EXPECTED TO REMAIN HIGH THIS
YEAR, shoppers will continue to demand salmon, retailers and analysts
say. Offering specials and promotions - and educating shoppers about
the health benefits of the fish - will further spur sales.
Salmon prices increased 3.5% for the quarter ending Dec. 31,
according to Circana and 210 Analytics. Sales dropped 0.9% for the
year ending Dec. 31 to $2.69 billion while units fell 2.4% and pounds fell
3.8%. Still, fresh salmon sales rose 4.4% compared to 2021 and 15.3%
versus 2020.
" While salmon sales are down year-over-year, compared to prepandemic
levels, salmon is still moving many more pounds in both the
refrigerated and frozen sections of the store, " according to Anne-Marie
Roerink, principal at 210 Analytics. " The growth in salmon sales seen
between 2020 and 2022 set a very high bar for salmon to continue to
put gains on the board, especially when hit with inflationary conditions. "
Salmon prices are " strong " and look to stay firm this year, said Chuck
Anderson, vice president of operations and partner at Dallas-based
Certified Quality Foods, which helps retailers and distributors measure
quality seafood.
Additionally, supermarket buyers are worried that ongoing Red Tide
issues in Chile could hike farmed salmon prices from the country this
year. Environmental authority Superintendencia del Medio Ambiente
Cobierno de Chile warned salmon grow-out sites to be prepared in case
of mass mortalities linked to the effects of El Niño, per IntraFish.
" Red Tide going around Chile in some areas could cause some farm
raised Atlantic salmon costs to go up, " said Jason Resner, meat and
seafood sales, merchandising, marketing, and procurement, Downer's
Grove, Ill.-based Fresh Thyme.
Salmon continues to be a popular item, but consumers continue to
look at seafood as a " special occasion item, " making it easy to justify
cutting it out when times are tough, acknowledged Jennifer Bushman,
chief marketing officer for Norwegian sustainable farmed salmon
supplier Kvarøy Arctic.
However, because Kvarøy targets specialty store shoppers who are
interested in a high quality, sustainable salmon, Bushman expects sales
to grow incrementally this year with steady pricing.
While substantial inflation hurt salmon sales and volume throughout
much of 2023, deflation typically leads to an uptick in demand, said
Roerink.
Anderson also believes salmon volume should hold up better than
shellfish because salmon is " a staple menu item and not a discretionary
purchase for many households. "
Last year, farmed salmon exports from Norway to the United States
actually skyrocketed 21% in sales to $1 billion and rose 7% in volume to
71,000 metric tons, according to Anne-Kristine Øen, USA director for the
Norwegian Seafood Council.
By Christine Blank
" Salmon is healthy, tasty and versatile. Americans are in general not
eating enough seafood, and at the same time an increasing amount of
people are trying to live more healthy lifestyles, " Oen said.
Value-added salmon is hot
Shoppers can easily cook successfully with salmon and can also serve it
raw in dishes like poke bowls, sushi, and sashimi, Øen said. And, due to
salmon's high content of healthy fat, it is also a " perfect choice " for the
barbeque, Oen explained.
" As these are all popular and trending dishes and cooking methods,
we expect the demand for salmon to remain high. "
Additionally, grocers can boost sales of salmon beyond the fresh
case, Roerink said.
" The ready-to-cook meals in the deli, the fully-cooked salmon in the
deli and of course sushi are all areas that had a strong 2023 and if you
look at the consumption patterns of younger shoppers, it is likely that a
lot of the growth will happen in the deli space. "
Other experts also predict a hike in value-added salmon products and
overall seafood sales this year.
" I expect deli prepared foods [including sushi] to continue to increase
for seafood in 2024, " said Chris DuBois, executive vice president -
Fresh/Protein practice leader for Chicago-based research firm Circana .
" I don't have an economic crystal ball, but unemployment is low, people
are spending money and the economy is reasonably strong. "
Sushi, seafood salads and many other value-added items -
performed better than many items in the fresh seafood case in the latter
months of 2023, according to Circana. Sales of seafood appetizers, for
example, surged nearly 210% in November.
Promotions are key
Discounts, sales and special events will be key to shoring up salmon
sales this year.
" More than in prior years, my research shows that half of grocery
shoppers check promotions and decide what to buy and cook from
there prior to setting foot in the grocery store. So it's important to have
an aggressive promotional presence outside the store in addition to
eye-catching displays and signage in the store, " Roerink said.
Salmon has among the highest household penetration of all seafood
categories, making it a great fish to promote " because it simply draws
more eyes than a more specialty variety, " she added.
San Antonio-based H-E-B is doing just that via a partnership with
Seafood Nutrition Partnership's " Fall in Love with Seafood " campaign,
which launched last October. H-E-B is showcasing a variety fresh,
frozen, and shelf-stable seafood along with sushi and poke bowls that
include salmon as an ingredient. The 420-store grocery chain is offering
specials on fresh Atlantic salmon fillets and portions, wild Alaskan
supermarketperimeter.com
FEBRUARY 2024 - 67
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Supermarket Perimeter - February 2024

Table of Contents for the Digital Edition of Supermarket Perimeter - February 2024

Supermarket Perimeter - February 2024 - Intro
Supermarket Perimeter - February 2024 - 1
Supermarket Perimeter - February 2024 - 2
Supermarket Perimeter - February 2024 - 3
Supermarket Perimeter - February 2024 - 4
Supermarket Perimeter - February 2024 - 5
Supermarket Perimeter - February 2024 - 6
Supermarket Perimeter - February 2024 - 7
Supermarket Perimeter - February 2024 - 8
Supermarket Perimeter - February 2024 - 9
Supermarket Perimeter - February 2024 - 10
Supermarket Perimeter - February 2024 - 11
Supermarket Perimeter - February 2024 - 12
Supermarket Perimeter - February 2024 - 13
Supermarket Perimeter - February 2024 - 14
Supermarket Perimeter - February 2024 - 15
Supermarket Perimeter - February 2024 - 16
Supermarket Perimeter - February 2024 - 17
Supermarket Perimeter - February 2024 - 18
Supermarket Perimeter - February 2024 - 19
Supermarket Perimeter - February 2024 - 20
Supermarket Perimeter - February 2024 - 21
Supermarket Perimeter - February 2024 - 22
Supermarket Perimeter - February 2024 - 23
Supermarket Perimeter - February 2024 - 24
Supermarket Perimeter - February 2024 - 25
Supermarket Perimeter - February 2024 - 26
Supermarket Perimeter - February 2024 - 27
Supermarket Perimeter - February 2024 - 28
Supermarket Perimeter - February 2024 - 29
Supermarket Perimeter - February 2024 - 30
Supermarket Perimeter - February 2024 - 31
Supermarket Perimeter - February 2024 - 32
Supermarket Perimeter - February 2024 - 33
Supermarket Perimeter - February 2024 - 34
Supermarket Perimeter - February 2024 - 35
Supermarket Perimeter - February 2024 - 36
Supermarket Perimeter - February 2024 - 37
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https://digital.supermarketperimeter.com/sosland/sp/2020_01_01
https://digital.supermarketperimeter.com/sosland/sp/2019_12_01
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https://digital.supermarketperimeter.com/sosland/sp/2019_10_01
https://digital.supermarketperimeter.com/sosland/sp/2019_09_01
https://digital.supermarketperimeter.com/sosland/sp/2019_08_01
https://digital.supermarketperimeter.com/sosland/sp/2019_07_01
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https://digital.supermarketperimeter.com/sosland/sp/2019_05_01
https://digital.supermarketperimeter.com/sosland/sp/2019_04_01
https://digital.supermarketperimeter.com/sosland/sp/2019_03_01
https://digital.supermarketperimeter.com/sosland/sp/2019_02_01
https://digital.supermarketperimeter.com/sosland/sp/2019_01_01
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