US-Market Memorial Day drove double-digit gains
This year, however, tight supply along with price inflation and continued social distancing measures created a very different marketplace and demand. Purchase limits remained in place for many popular cuts, all the while more states allowed restaurants to re-open dine-in facilities, altering the demand landscape yet again. Despite the supply pressure, dollar sales grew 20.7% the week of May 24 versus year ago and volume grew 5.1%.
Year-to-date through May 24, meat department dollar sales were up 24.7%, boasting double-digit growth for eleven weeks running. This reflects an additional $5.8 bn. sold versus the same time period in 2019. Year-to-date volume sales through May 24 were up 17.3% over the same period in 2019, reflecting an additional 1.2 bn. pounds of meat and poultry sold versus the same time period in 2019.
The overall 20.7% meat department gain was fueled by double-digit gains for all proteins. The two smaller proteins, turkey (+33.7%) and lamb (+44.3%), had the highest percentage gains, but beef easily had the highest absolute dollar gains (+$104 mill.), followed by chicken (+$36 mill.) and pork (+$36 mill.).
Turkey’s strong week was driven by the combination of growth in ground turkey (+31.7%) and whole turkeys (+95.0%). The latter is driven by extended holiday promotions by several retailers and particularly Walmart’s “pay it forward,” no expiration gift card that can be used specifically towards a whole bird turkey or ham.
(Bild: Imago Images / ZUMA Press)
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(Bild: Imago Images / Levine-Roberts)