Supermarket Perimeter - January 2024 - 56

Seafood
2024
FORE
CAST
By Christine Blank
WHILE ANALYSTS EXPECT FRESH SEAFOOD SALES TO CONTINUE
TO BE CHALLENGED IN 2024 due to shoppers' economic concerns,
sales of prepared seafood items should continue to grow.
" Seafood volumes have been down for two years in a row after the
huge increases from the early pandemic times, " said Chuck Anderson,
vice president of operations/partner for Dallas, Texas-based Certified
Quality Foods, which helps retailers and distributors measure quality
seafood.
" The concern is that seafood has given back most or all of the new
shoppers and sales gains from 2020 and 2021. "
Fresh seafood sales declined 5.7% and volume dropped 7% for the
month ending Nov. 26, compared to the same month in 2022, per
research firm Circana. However, the category still generated $417 million
in sales in November and $6.3 billion for the year ending Nov. 26.
56 - JANUARY 2024
Seafood sales have been challenged and the occasional buyers have
moved away, acknowledged Chris DuBois, executive vice president -
Fresh/Protein practice leader for Chicago-based research firm Circana.
However, the core and heavy buyers are still in the category, he noted.
" I think refrigerated seafood is bottoming and salmon is a big part of
that. A big part of re-energizing seafood sales is bringing new people
into the category. Winning those shoppers is the future for the seafood
case, " DuBois said.
Anderson and others attribute the decline to two years of high
grocery inflation - even though the overall food and beverage
Consumer Price Index consistently declined in the second half of 2023.
Circana found that 45% of shoppers are cutting back on nonessentials
- and many group seafood in that category, according to
Anderson.
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Supermarket Perimeter - January 2024

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

Supermarket Perimeter - January 2024 - Intro
Supermarket Perimeter - January 2024 - 1
Supermarket Perimeter - January 2024 - 2
Supermarket Perimeter - January 2024 - 3
Supermarket Perimeter - January 2024 - 4
Supermarket Perimeter - January 2024 - 5
Supermarket Perimeter - January 2024 - 6
Supermarket Perimeter - January 2024 - 7
Supermarket Perimeter - January 2024 - 8
Supermarket Perimeter - January 2024 - 9
Supermarket Perimeter - January 2024 - 10
Supermarket Perimeter - January 2024 - 11
Supermarket Perimeter - January 2024 - 12
Supermarket Perimeter - January 2024 - 13
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Supermarket Perimeter - January 2024 - 15
Supermarket Perimeter - January 2024 - 16
Supermarket Perimeter - January 2024 - 17
Supermarket Perimeter - January 2024 - 18
Supermarket Perimeter - January 2024 - 19
Supermarket Perimeter - January 2024 - 20
Supermarket Perimeter - January 2024 - 21
Supermarket Perimeter - January 2024 - 22
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Supermarket Perimeter - January 2024 - 24
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Supermarket Perimeter - January 2024 - 26
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Supermarket Perimeter - January 2024 - 29
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Supermarket Perimeter - January 2024 - 31
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Supermarket Perimeter - January 2024 - 33
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Supermarket Perimeter - January 2024 - 36
Supermarket Perimeter - January 2024 - 37
Supermarket Perimeter - January 2024 - 38
Supermarket Perimeter - January 2024 - 39
Supermarket Perimeter - January 2024 - 40
Supermarket Perimeter - January 2024 - 41
Supermarket Perimeter - January 2024 - 42
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