Good value moves the market as beef & chicken win
Right now, everyone is focusing on having a great Christmas – and Meat, Fish and Poultry (MFP) is always a key part of the season. The latest figures from Kantar Worldpanel for the 12 weeks ending 4th December 2016 show all macro categories are back in volume growth, except Sliced Cooked Meats. The only value growth comes from Chilled Fish where value growth continues to outstrip volume growth.
In the run up to Christmas, we’ve seen Beef performance move with strong volume growth and static value compared with last year. Nathan Ward, Business Unit Director for MFP explains: “410,000 more shoppers are buying into Beef, but this impact is counteracted by falling prices and smaller trips. Average prices are falling in Mince, Roasting Joints and Steaks, driving more shoppers into Mince and Steaks. Mince in particular has seen strong Temporary Price Reductions driving volume sales, but holding back value. Fresh Chicken continues to see a strong performance as 720,000 more shoppers are helping to bring the market back into value growth through Breast, Leg and Roasting Birds.”
Ward continues: “Pork, Lamb and Turkey are all seeing strong volume losses, but are seeing different dynamics affecting them. All three categories are seeing lower levels of promotion compared to last year, but Pork and Turkey are still experiencing falling prices through base prices. These are driving faster value losses and resulting in fewer shoppers buying Pork and Turkey. Lamb is the most likely protein to be affected by currency fluctuations, with the category seeing more imports in the New Zealand season, and prices up 2% on last year. The effect of these changes has been that Lamb has seen 492,000 fewer shoppers this year, which could turn around with a strong push for Lamb at Christmas.”
Our next data release will be the Christmas update, which will see some big questions answered: will we see Turkey grow or will other proteins rise as consumers eschew tradition? Find out in our next update in four weeks’ time!