Sales of frozen and fresh seafood declined at U.S. retail stores in August, continuing a tough summer for the categories.
Declines in seafood prices have occurred all summer at retail, which led to sales gains in some niche categories in June and July, but prices in fresh and frozen rose slightly in August, leading to a corresponding dip in sales, according to 210 Analytics Principal Anne-Marie Roerink in a recent U.S. Retail Seafood Performance Review report.
Frozen seafood sales dropped 4.2 percent by value to USD 739 million (EUR 664 million) and declined 2.6 percent by volume, according to Circana Integrated Fresh data analyzed by 210 Analytics. Fresh seafood sales decreased 2.2 percent by value to USD 807 million (EUR 725 million), while sales by volume dropped 4.9 percent.
Refrigerated seafood items typically compete with the meat department for consumer dollars, and meat had a very strong month in August, Roerink told SeafoodSource, as overall sales by volume in the category rose 2.6 percent compared to August 2023. Beef sales by volume rose 4.3 percent, and pounds of chicken sold rose 2.8 percent.
“While seafood prices are looking better for the consumer than they did last year, the average price per pound of USD 9.60 [EUR 8.60] remained significantly higher than the average price per pound for the three biggest animal proteins,” Roerink said.
Shelf-stable seafood sales performed a bit better during the month, rising slightly by 0.2 percent year over year to USD 330 million (EUR 297 million), while sales by volume shot up 8.3 percent.
The U.S. Bureau of Labor Statistics’ August Consumer Price Index (CPI) found that fish and seafood prices at retail dropped 2.3 percent in August compared to August 2023, while prices rose only 0.2 percent month over month.
Overall food inflation rose 2.1 percent in August, according to the CPI, with restaurant prices contributing to the majority of the incline. Food-away-from-home costs ...
