This year, many Americans are hoping for a normal fall and holiday season. Vaccinations have helped many people feel more comfortable traveling and gathering again. As virus waves and variants come and go throughout the country, many retailers find they’re still having to adjust and pivot. No matter what consumers are experiencing though, it’s important to keep convenience in mind for shoppers preparing to gather again.
During the COVID-19 pandemic, Midan Marketing saw a shift in meat consumers. According to our Meat Consumer Segmentation research, Convenience Chasers, the segment of consumers who prioritize convenience and price, increased from 30% pre-pandemic to 39% in September 2020.1 This shift toward convenience will be important for retailers to consider as adults return to offices, children return to school, and friends and families make time to be together.
“There is not a single, clear-cut definition of ‘premium’ across fresh protein categories,” said Erkin Peksoz, IRI consultant. “Price-based, claims-based (organic, non-GMO, feed claims, etc.), brand-based and cut-based approaches are all possible.”
When taking a cut-based approach to premium, holiday favorites like beef tenderloin and ribeye are some of the definitive meat cuts. For this study, IRI defined premium beef as any cut with an average price per volume of at least 1.25x the entire fresh beef category. Using this measurement, tenderloin is the most premium cut, with an average price three times more than the average of fresh beef; ribeye comes in second at 1.86x the category average.3
Food is the center of many celebrations and after many long months at home, consumers will be excited to gather again this holiday season. Keep your store an important part of shoppers’ routines by being sure to stock the items they are looking for – from convenience to premium and everything in between.
1 Midan Marketing, Meat Consumer Segmentation 2.1, September 2020.
2 IRI, Consumer Purchasing Behaviors: What Is Here to Stay? AMC Presentation, March 2021.
3 IRI Market Advantage (POS), MULO, 52 weeks ending 7/11/2021.
4 Anne-Marie Roerink, Principal, 210 Analytics LLC, The Power of Meat 2020 Midyear: An In-Depth Look at Meat Through the Shopper’s Eyes, Report sponsored by Sealed Air Food Care Division/Cryovac® and Published by Food Marketing Institute Foundation for Meat & Poultry Research & Education.
This content originally appeared in The Shelby Report