Saving Seafood

US retail seafood sales expected to stabilize after rough 2023

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.

Read the full article at SeafoodSource

Merry seafood outlook expected for US retailers this holiday season

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.”

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US retail seafood sales plummeted in August, defying deflationary price trends

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.

Read the full article at SeafoodSource

US year-end, holiday retail outlook bleak

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.

Read the full article at SeafoodSource

US retail seafood sales facing continued headwinds in 2023

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.

Read the full article at SeafoodSource

US retail seafood outlook more positive for second half of 2023

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).

Read the full article at SeafoodSource