The Market Research program provides insights and perspective on a wide range of subjects around the food landscape and beef specifically. This Checkoff-funded program includes understanding consumer consumption, perceptions, concerns and exploring a variety of topics that relate to beef and the competitive protein landscape.
Objectives:
Beef is the star of the grill, with nearly 75% of consumers indicating burgers are a “must have” food for grilling, and nearly 60% say the same about steak.
In this article, NCBA, a contractor to the Beef Checkoff, examines historical corned beef sales trends for the St. Patrick's Day holiday.
This analysis offers valuable insights into holiday consumer preferences and behaviors and beef’s resilience amidst economic challenges.
While the rate of inflation continues to slow, prices remain higher than pre-pandemic levels, tempering consumer spending.
Given still elevated food prices, ground beef may continue to provide more protein shoppers with a cost-effective grilling option this summer.
It is a world where taste, ethics, and environmental consciousness intersect, influencing not just purchasing decisions but also production practices.
Corned beef sales at retail experience a 9-fold average increase in dollar sales and a 13-fold increase in pound sales from February to March between 2019 and 2023.
Corned beef sales at retail experience a 9-fold average increase in dollar sales and a 13-fold increase in pound sales from February to March between 2019 and 2023.
Conventional beef is still the overwhelming favorite at the meat department; however, production claim-based products are expected to continue to be part of the many choices consumers have either at the grocery store or their favorite restaurant.
Whether shoppers are looking for a certain leanness percentage or product form, ground beef is well apt to cater to a multitude of lifestyles and preferences.
Adding beef to the shopping basket has the potential to generate incremental consumer spend across all areas of the grocery store.
In addition to scaling back the size of their holiday celebrations, consumers are actively implementing cost-saving strategies into their holiday shopping routines to help ensure they can experience a festive holiday season within their financial means.
This Market Insights report highlights current industry trends and insights and their potential impact on the beef industry, with an emphasis on domestic consumers.
Strong consumer demand is critical to producers’ bottom lines. While consumers have so far remained resilient in their spending, economic headwinds may start to soften demand for beef.