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Op-ed: Why are seafood sales declining?

March 2, 2024 — Ken Salzinger is the founder and owner of Kenmar Sales and Consulting and the author of the “Ken’s Catch” newsletter. He can be reached at kensalz@comcast.net.

Why are seafood sales declining?

If you follow what some of the pundits are saying, it is due to inflation and that seafood product prices are higher than other proteins. Others say that seafood is not top of mind when it comes to cooking at home or even at a restaurant. Some have alluded to the possibility that due to the amount of seafood imported into this country, it is unsafe to consume. Are they correct? In my opinion, no.

Read the full article at SeafoodSource

Bank of America’s Tim McGee predicts growth in US economy, seafood sales in 2024

January 23, 2024 — Falling inflation could improve net demand, portending better seafood sales in 2024, according to Bank of America Managing Director and Chief Investment Office Macro Strategy Head Tim McGee.

Speaking at the 2024 Global Seafood Market Conference, taking place in Orlando, Florida, U.S.A. from 23 to 25 January, McGee said election-year economic moves by the administration of U.S. President Joe Biden and by the U.S. Federal Reserve focused on getting Americans to feel better about the economy will pay dividends for the seafood industry.

Read the full article at SeafoodSource

Lethargic Seafood Sales? Try Snacking.

February 21, 2023 — A steep decline in seafood activity has merchandisers scurrying for sales remedies. One potential solution? Position seafood as a snack instead of a main meal.

“Seafood had a tough 2022,” said Anne-Marie Roerink, president of 210 Analytics LLC, a San Antonio-based market research and marketing strategies firm. “Engagement was down and that means we need to get creative.”

With Chicago-based market research firm Information Resources Inc. (IRI) reporting that volume sales of fresh finfish and fresh shellfish were down 12.3% and 18.7%, respectively, for the 52 weeks ending Jan. 1, while frozen finfish and frozen shellfish sales fell 11% and 4.8%, respectively, it is essential for sellers to seek solutions that can jumpstart purchasing.

Emphasizing seafood’s role as a snacking option is a way to create more eating occasions, Roerink said. While most seafood consumption occurs at dinnertime, meal occasions are becoming increasingly fluid and creating opportunities for newer options, she said.

“Snacking is huge for adults and kids alike and protein remains a powerful nutrition claim that people look for, particularly during the afternoon and evening break,” Roerink said.

Seafood snacks can be particularly attractive to the greater number of people working from home who have easy access to air fryers and microwaves, along with the growing amounts of individuals replacing lunch with several smaller snacking occasions, she said.

Yet, a segment of shoppers and merchandisers already embrace seafood snacks. That includes consumers using canned and pouched tuna to create on-the-go solutions, like tuna salad and crackers, and retailers that are offering frozen options like breaded shrimp or bacon-wrapped scallops that can be eaten as either a snack, appetizer, or even center-of-the-plate protein, Roerink said.

Seafood department operators also are in position to propel activity by offering more fresh snacking options. Along with such selections as shrimp platters, smaller portions of sushi, and seafood salad, items like one-person servings of shrimp with cocktail sauce, sashimi, and shrimp and salmon kebabs can potentially boost buying, Roerink said.

Read the full article at Seafoodnews.com

US holiday retail seafood sales outlook bright

December 3, 2022 — Analysts and retailers are maintaining a positive outlook for U.S. retail seafood sales this holiday season, despite inflation pushing down fresh and frozen sales in 2022.

Because Covid-19 restrictions are not in place – as they were during the previous two holiday seasons – analysts are predicting more social and family gatherings will occur. And with that, there’s hope Americans will continue their tradition of spending more on food – and seafood – during the holiday season.

Read the full article at SeafoodSource

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