US family meat consumption persists despite high food prices associated with historical inflation; Nonetheless, shoppers switch between multiple products.
One product that has fallen in demand is cuts of beef, which have risen in price in recent weeks. before inflation of 9.1%, registered in June last year.
Food prices, along with high gas and housing costs, were below average, according to the June CPI report. those that fueled inflation the most, growing at an annualized rate of 12.2%.
And beef one of the most expensive products in this food group, according to meat processor Tyson.
But consumers have not stopped buying meat, but have changed their consumption habits and made a choice in favor of alternatives that are much cheaper, such as chicken.
Meat buyers find beef steaks very expensive, Tyson says, and have noticed this. “extremely high demand for chicken”.
But the demand for chicken also began to increase its valueexplained Tyson, which is up 20.1% in the last full quarter of the year.
On the contrary, the packer indicated that the prices of beef and pork products have decreased, although they are still remain out of reach of the wages of thousands of Americans.
Faced with changing demand, companies like Tyson are taking action to re-engage consumers.
According to the announcement, the meat processing plant is preparing to launch new products and package sizes to meet consumer demands.
But Tayson is not the only company in the sector that has noticed a change in consumption due to inflation and rising prices.
Food company Kroger also admitted last June that some shoppers have stopped spending money on products that could jeopardize their budgets due to rising prices.
these buyers chose products that are cheaper than their own brands retailers, who often have lower prices; in addition to this, they opted for cheaper animal products.
For its part, Walmart clarified that, in addition to meat, other animal products such as milk, they stopped buying in gallons and were traded for half a gallon.
Besides your customers change well-known brands products such as bacon and other dairy products for other brands that are cheaper.
Source: La Opinion
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