July 17, 2024 — Seafood prices across U.S. grocery stores have been falling for most of 2024, but American consumers continue to buy fewer products in the category.
Seafood prices dropped 1 percent year over year in June 2024, and 0.7 percent from May 2024, according to the U.S. Bureau of Labor Statistics’ Consumer Price Index.
June 18, 2024 — Average seafood retail prices dropped again in May 2024, continuing a steady decline in recent months. But it was not enough to boost sales, which dropped despite holiday surges from both Mother’s Day and Memorial Day.
Frozen seafood prices dropped 3.6 percent year over year in May, the largest decrease by category across the seafood retail landscape, but sales of frozen seafood by value dipped 4.6 percent to USD 738 million (EUR 687 million), according to Circana data analyzed by Lakeland, Florida, U.S.A.-based food research firm 210 Analytics.
Fresh seafood prices declined 1.4 percent, and sales by value fell 3.1 percent to USD 820 million (EUR 764 million). However, the shelf-stable and ambient seafood category saw sales increase 2.2 percent to USD 310 million (EUR 289 million), with prices dropping down 2.2 percent.
May 14, 2024 — Fresh and frozen seafood prices continued to drop at U.S. retail stores in April, but seafood sales as a whole declined across the country, partly due to an earlier Easter holiday that took place 31 March.
Frozen seafood prices declined 4.3 percent to USD 7.29 (EUR 6.75) per pound on average during the month compared to April 2023, according to data from research firm Circana, analyzed by Lakeland, Florida, U.S.A.-based 210 Analytics.
March 13, 2024 — U.S. seafood inflation at retail continued to ease in February, and the start of the Lent season early in the month boosted sales of frozen and ambient seafood.
New U.S. Bureau of Labor Statistics Consumer Price Index data showed fish and seafood prices dropped 3.9 percent year over year in February and 0.7 percent month over month.
January 24, 2024 — U.S. fresh and frozen seafood sales should stabilize this year after an extremely challenging 2023, retail analysts predicted at the opening plenary session of the 2024 National Fisheries Institute-hosted Global Seafood Market Conference in Orlando, Florida, U.S.A. on 23 January.
In 2023, overall fresh and frozen seafood sales declined due to several overarching factors, including consumers’ reduced spending power due to inflation, subsequent depleted savings, and student debt payments for some.
December 21, 2023 — Consultants and grocers are anticipating higher sales of seafood in U.S. retail stores over the holidays, as research points to many Americans wanting to cook at home more during the year-end break.
“We expect seafood sales to continue their positive trends throughout November and December,” Fresh Thyme Meat and Seafood Sales, Merchandising, Marketing, and Procurement Lead Jason Resner told SeafoodSource. “It might not be [the increase] of 35 percent or more we saw last year, but we still expect double-digit sales comps in fresh seafood such as salmon, as well as crab and shrimp.”
September 19, 2023 — U.S. fresh and frozen seafood sales and volume declined more than retail data predicted in August, despite continued deflation.
Fresh seafood sales plunged 7.4 percent in August to USD 595 million (EUR 566 million), while fresh seafood volume decreased 6.6 percent. Frozen seafood sales dropped 7.7 percent to USD 619 million (EUR 579 million), while volume in the category fell 8.1 percent.
September 17, 2023 — The U.S. retail outlook for the fourth quarter of this year is dreary, providing an ominous outlook for seafood sales, according to new data and insight from major U.S. grocery chains and organizations.
Though overall U.S. retail sales are up 4 percent compared to last year – thanks largely to growth in e-commerce and mail-order sales – grocery chains are releasing uninspiring financial reports that have led them to readjust their guidance for the rest of the year.
February 23, 2023 — Continued food inflation causing shoppers to trade down to cheaper items is expected to impact U.S. grocery seafood sales this year, and Walmart’s concerns about shoppers and Lidl’s corporate layoffs also signal trouble ahead for overall grocery sales.
Walmart reported higher Q4 revenue and an 8.3 percent increase in U.S. comparable store sales, but CEO Doug McMillon warned that shoppers are more cautious and the retailer lowered its profit outlook for the year. Walmart expects “stubborn inflation” in food, Walmart executives said on an analyst call, per Barron’s.
January 20, 2023 — While 2022 was a challenging year for retail seafood sales due to inflation amongst other problems, retailers and analysts are optimistic for a brighter 2023.
Fresh seafood sales across retail outlets dropped 8.2 percent to USD 6.5 billion (EUR 6 billion) for the year ending 1 January, according to IRI and 210 Analytics. Frozen seafood realized a much smaller decline, falling 2.9 percent to around USD 7.1 billion (EUR 6.6 billion).