The poultry meat retail consumer behavior in 2023 saw significant changes influenced by factors such as inflation, demographics, and shifting preferences. Key points from the Power of Meat report and insights shared by Anne-Marie Roerink include:
1. Inflation concerns: Consumers were impacted by inflation in 2023, leading to reduced spending on poultry and meat due to rising prices and financial worries.
2. Optimism about prices: Consumers are feeling more optimistic about prices in 2024, indicating a potential shift in consumer behavior towards poultry and meat retail.
3. Decline in plant-based meat: Inflation had a more significant impact on plant-based meat, with household penetration declining to less than 7% in 2023.
4. Generation spending: Generation X and Baby Boomers spent the most in the meat department, while millennials were big spenders on chicken and showed interest in sustainable packaging.
5. Price not the only factor: Consumers are looking beyond price alone when purchasing poultry and meat, focusing on factors like nutrition, organic options, and sustainability.
6. Home-centric meals: The pandemic led to a shift towards at-home dining, with consumers realizing the economic and health benefits of cooking at home. Retailers should emphasize the value of home-cooked meat and optimize meat offerings for all meal occasions.
Overall, these changes in consumer behavior in 2023 suggest a shift towards more mindful and value-driven purchasing decisions in the poultry meat retail sector. Retailers should continue to adapt to meet consumer preferences for sustainable, high-quality products that offer both nutritional value and affordability.
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