Double digit decline in consumer spending on pork
A 7% decline in average retail prices, coupled with a 4% fall in the amount of pork purchased, resulted in a sharp double digit decline in consumer spending for the latest 12 week period.
A 7% decline in average retail prices, coupled with a 4% fall in the amount of pork purchased, resulted in a sharp double digit decline in consumer spending for the latest 12 week period, ended 1 March 2015, according to Kantar Worldpanel. Consumer switching was a key driver behind volume losses, with chilled ready meals and fresh chicken and beef the main beneficiaries. With the exception of mince, all cuts registered a fall in purchase volumes over the year. Chops/steaks have recorded falling demand for some time now, while roasting joints have not recovered from a poor Christmas in 2014. Within roasting joints, shoulder, belly and loin all contributed to year on year declines in both volume and value. Volume sales of leg joints remained at similar levels to last year, though cuts in average prices resulted in a fall in total spending.
The amount of premium bacon purchased was up 40% year on year, which has helped total bacon sales to increase compared with the same period last year. Total expenditure on bacon was down due to an average price decline of over 2% at a total bacon level and 6% for premium. However, sales of pork sausages and ham both declined, despite static or falling prices.