Retail deli prepared seafood, and to-go meals made with seafood are both potential areas of growth for 2023 — so says a new report from market research firm 210 Analytics.
Last year saw an 11.9% sales increase in deli and prepared foods vs. 2021. Consumers are hungry for protein variety and seafood is a great, higher-margin way to service that need, according to the report, “Seafood at Retail Q4 and YE 2022.”
Consumers are also generally seeking value from grocery, a trend that’s translating in an even bigger way for seafood.
Other growth trend highlights from the report:
- Inflationary pressure is real: promote where possible: Keep comparing to the 2019 pre pandemic normal to understand where demand sits relative to “normal”
- It’s not just about price, it’s about value: Try to match the shoppers’ value, whether in species, pack size or meal deals, but premiumization also remains an opportunity
- It’s a balancing act between convenience and value: While value matters, shoppers are also out of time and energy to cook
- There’s a continued interplay between retail and restaurants: Restaurant trips are pressured once more and shifting to QSRs. Retail can step in as the premium meal
- It’s fresh and frozen, not fresh or frozen: Shoppers are switching back and forth between fresh and frozen, but the latter is popular in all categories
Supermarket News spoke with Anne-Marie Roerink, president of 210 Analytics, for a breakdown of the report, as well as a look at trends and predicted growth for seafood in 2023.
Take a listen.
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