U.S. seafood retail sales continued to be weak in August

August saw a 2.3% increase in total food and beverage sales in the United States, with a 0.6% rise in sales volume, mirroring inflation rates of around 1.6%. The average price of food in the country is now 35% higher than in 2019. This inflationary trend has led to a decrease in dining visits and a more cost-conscious consumer behavior. The seafood industry has experienced shifts, with a drop in chilled salmon sales but an increase in frozen salmon and canned and bagged seafood. Consumers are spending more on shelf-stable products due to economic pressures. Overall, fresh seafood sales have seen a decline, while sales of frozen seafood and shelf-stable seafood have experienced a drop and an increase, respectively.

Compared with the same period last year, total food and beverage sales in the United States increased by 2.3% in August, and sales volume increased by 0.6%, reflecting inflation levels of around 1.6%. The average price of food in the United States is still 35% higher than in 2019. Anne-Marie, founder of Circana Roerink said that this trend has led to a decrease in the number of dining visits, and consumers are more focused on price and cost-saving purchasing strategies. The growing food insecurity reflects the continued economic pressure and has also prompted shoppers to adopt a more cautious and cost-conscious approach. Although the reduction in dining out is beneficial to the retail industry, consumers have adopted a more frugal approach when purchasing food, and price has become an important consideration. Food convenience, health and sustainability still affect consumer purchasing decisions. In addition, the back-to-school season for students has increased the demand for ...