Despite a slowdown in the inflation rate, overall seafood aisle sales activity remains off course.
Though the average fresh seafood price of $9.32 per pound is up just 0.1% over last year, sector volume and dollar sales still declined 3.0% and 2.9%, respectively, for the 52 weeks ending Aug. 13, reports Circana, a Chicago-based market research firm.
Among species, salmon and shrimp, the first and third most popular fresh seafood options, had volume sales declines of 1.4% and 16.7%, respectively, along with higher-than-average price per pound increases of 3.7% and 5.2%.
Fresh crab, second in fresh seafood sales, had a 23.7% volume increase, which is largely resulting from a 16.8% price decrease, analyst said.
Shopper concerns about higher prices throughout the economy is contributing to sales declines in most seafood categories, said Anne-Marie Roerink, president of 210 Analytics LLC, a Chicago-based market research and marketing strategies firm and preparer of the Seafood at Retail report.
“Even though seafood has seen very little inflation overall, there hasn’t been the demand uptick one would normally see in response,” she said. “Fewer people are buying fresh seafood, and those who are buying it are doing so less often.”
To spur activity, retailers should implement cost-saving measures, including promotions that target the species with sales…
