Supermarket Perimeter - October 2022 - 49

DESPITE RISING INFLATION, value-added seafood sales are far outpacing regular sales of
overall fresh fish and shellfish.
" Value-added continues to have stellar performance versus non-value-added. It's not
surprising, but the sales and volume differences aren't close, " said Chris DuBois, executive
vice president, Americas Protein Practice Leader for IRI. " Value-added is the star of the
seafood case. "
While fresh value-added seafood sales dropped 5.5% for the 12 weeks ending August 7,
according to IRI, overall fresh seafood sales plummeted 11.7% for the quarter.
Value-added items accounted for 20.8% of the overall fresh seafood sales for the quarter,
reaching nearly $318 million. Meanwhile, total fresh seafood sales charted more than $1.5
billion in the most recent quarter.
Value-added fresh finfish sales grew 2.7% for the 12 weeks ending Aug. 7, while value-added
shellfish sales dropped 12.1%.
" Finfish sales are relatively strong, but shellfish sales have really fallen off. Fish is the first
choice for consumers and shellfish are bought when consumers' pockets have more overall
money, " DuBois said.
In fact, value added scallop sales dropped 26.5% during the quarter, and overall scallop sales
plunged 31.3%. Value-added crab items declined 17.6% versus 24.4% for non value-added, while
value-added lobster products fell 11.3% versus 22.5% for non value-added.
Shrimp had the slightest loss at 7.1% in value-added, but slid a whopping 28.8% in non valueadded
sales.
In finfish, value-added trout items realized the biggest decline, falling 52.3%, while non
value-added trout sales rose 3.5%. Value-added swordfish sales plunged 27% while value-added
tuna products fell 26.2%, and value-added tilapia declined 4.2%.
Value-added salmon sales actually grew 6.3% in the quarter and non-value-added items
also rose 7.5%. Value-added haddock sales increased 12.4% while non value-added items
declined 5.6%.
" Retailers are using salmon to keep their fish and seafood customers engaged, and with
consumers still preparing almost 80% of their meals at home and looking to cut back on
restaurant outings, fish will continue to be strong, " DuBois said.
Value-added hot, despite inflation
Even with soaring inflation in fresh seafood - both value-added and non value-added items -
consumers are willing to pay for convenience and are looking for ideas to make special meals
at home, DuBois said.
" While value-added fish and seafood costs more than regular fish, value added sales
have remained stronger. IRI's research continually shows that consumers are willing to pay
Salmon in
particular
has been
a great
anchor for
the seafood
case. "
Chris DuBois, IRI
Value-added fresh seafood sales
year ending Aug. 7
All seafood
Finfish
Shellfish
Salmon
Shrimp
Crab
$1.4 billion
$688 million
$670 million
$468 million
$412 million
$184 million
(Source: IRI)
supermarketperimeter.com
OCTOBER 2022 - 49
SANDRA BURM, PINEAPPLE STUDIO - STOCK.ADOBE.COM, 210 ANALYTICS

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Supermarket Perimeter - October 2022

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