Lower prices can’t halt slide in pork retail sales
Consumer spending on retail pork purchases was down 12%, compared with a year earlier, in the 12 weeks ending 11 September.
Prices were down across most major cuts, with the biggest percentage drops coming in loin cuts and shoulders. Despite this, the overall amount sold was down 6% year on year. The volume of pork sold on promotion was lower than a year ago. Within that, there was an increase in temporary price reductions (TPRs), while levels of Y for £X deals, which can be important drivers of volume sales, continue to fall. Switching data shows that people who moved out of pork did so mainly to fresh chicken and also chilled convenience products. However, pork did make gains from frozen chicken during the latest period.
Expenditure on bacon continued to decline, down 9% on the back of a small fall in the amount purchased but mainly due to a drop in average retail prices of 7%. As for pork, the level of promotional activity was down year on year and the mix switching towards TPRs. Value sales of sausages were down 6%, with this again predominantly coming from lower retail prices. The one growth area for sausages continues to be low fat, albeit from a very small base. Sliced cooked meats were down 3% in spend for the 12-week period. Ham was down 4%, with retail prices virtually unchanged but the volume bought down 4%.
Stephen Howarth, Market Specialist Manager
Stephen.email@example.com, 024 7647 8856