According to a survey Consumers trading down to less expensive meat
A March report from data analysis group 84.51° revealed that consumers are becoming more selective about their meat purchases due to inflation. 37% of respondents are purchasing cheaper cuts of meat, while 43% are cooking dishes using less meat, such as casseroles and tacos. Only 12% are not stretching their budget when purchasing meat. Despite food inflation decreasing since mid-2022, consumers still face higher costs compared to meat prices before 2020. The data suggests shoppers are looking for deals on ground beef and sausages as prices rise across spending categories. The U.S. Bureau of Labor Statistics' Consumer Price Index shows that meat items increased 0.1% in February compared to the previous month, with beef and veal products seeing a 7.4% year-over-year spike. However, the poultry category saw a 1.3% decrease in prices compared to January. Despite price being a major factor, consumers prioritize product quality and flavor when buying meat products. Protein consumption has not significantly changed in the last year, with 66% of respondents stating their household is consuming the same amount as in 2023. Additionally, 10% of consumers traded down from organic to non-organic meat due to premium costs.
