Supermarket Perimeter - May 2024 - 12

Prepared meats and pizza were among the top category performers.
Deli prepared
Deli prepared
Entrees
Prepared meats
Salads
Sandwiches
Appetizers
Side dishes
Soups & chili
Pizza
Breakfast
Combo meals
Desserts
February 2024
$ sales
$2.3B
$638M
$472M
$339M
$272M
$170M
$139M
$128M
$94M
$46M
$16M
$7.9M
$ vs. YA Units vs. YA
+3.6%
+1.3%
+11.8%
-0.9%
-0.1%
+3.6%
-0.3%
+4.8%
+3.6%
+26.6%
+1.1%
+14.1%
Latest 52 weeks ending 2/25/2024
$ sales
+4.1% Deli prepared
+1.6% Entrees
+14.8% Prepared meats
+1.7% Salads
+1.5% Sandwiches
+3.0% Appetizers
+0.4% Side dishes
+3.3% Soups & chili
+6.6% Pizza
-3.1% Breakfast
-5.3% Combo meals
+11.3% Desserts
$29.5B
$8.2B
$5.8B
$4.8B
$3.7B
$2.0B
$1.8B
$1.3B
$1.1B
$535M
$212M
$99M
Specialty cheese remains an area of strength, whereas pre-sliced and service cheese decreased in February.
Specialty cheese
Total deli cheese
Grab & go
Pre-sliced
Service
Specialty
February 2024
$ sales
$695M
$89M
$52M
$81M
$464M
$ vs. YA
-0.0%
-2.1%
-5.1%
-6.6%
+2.2%
Lbs vs. YA
+1.6% Deli cheese
+0.1% Grab & go
-3.5% Pre-sliced
-3.8% Service
+3.8% Specialty
Latest 52 weeks ending 2/25/2024
$ sales
$9.3B
$1.2B
$730M
$1.1B
$6.2B
$ vs. YA
+1.5%
+24%
-1.0%
-4.4%
+2.8%
+4.5%
+8.3%
+1.7%
+6.5%
+5.4%
+4.1%
+3.7%
+10.2%
+14.8%
-5.9%
+5.5%
$ vs. YA Units vs. YA
+5.3%
+2.6%
+3.0%
+7.7%
+0.3%
+2.1%
+3.8%
+2.1%
+2.0%
+8.5%
-8.4%
-27.8%
-10.5%
Lbs vs. YA
+0.1%
+1.0%
-1.2%
-5.9%
+1.4%
The evolution of value
Consumers are making the decision where to shop based on the " value
proposition " they think a particular store can deliver, Stein said.
" We've done a lot of work digging into what value means. In the past
it was about price and quality. It means a lot more now, and it means a
lot of different things to different consumers. "
Price, quality and convenience are of course as important as ever,
Stein said. But many consumers want to add the word " experience " to
their list of ingredients that go into a value proposition. Relevance and
health/wellbeing are among the other key needs at the top of many of
today's consumers' lists.
In the end, though, Stein said, some things never change. There's no
cutting corners on quality.
" Values attract consumers, but you need quality to get the sale. "
To succeed in retail foodservice, Stein said, retailers will need
to lean into more variety - something that younger consumers in
particular demand.
" Millennials and Gen Z are the largest audience in the US, and they
also have the most money, as a group. And it's the most diverse cohort
in the US, a real mixing bowl of different cultures, eating habits. They're
much more experimental. "
Rotisserie and fried chicken and sandwiches isn't going to cut it
anymore, Stein said. One tactic retailers could benefit from is having
daily specials emphasizing the diversity of young America.
" Tuesday could be Hispanic night, Friday Mediterranean night. Onetime
specials, limited-time-offers. You don't have to have variety 24/7. "
12 - MAY 2024
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Supermarket Perimeter - May 2024

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