Key Buyer 2022 Industry Update – Summer Edition

Exclusive Key Buyer Publication

Over two years into the pandemic, COVID-19 concerns appear to be easing in the U.S. Nevertheless, general anxiety continues to run high, mainly due to a fraught and volatile economic landscape.

According to IRI data, extreme concern related to inflation – which has reached a 40-year high – was expressed by 49 percent of surveyed shoppers as of March 2022. Comparatively, 29 percent of consumer participants told IRI they were similarly concerned about coronavirus, signifying that “inflation has a far greater grip on the nation’s food spending than COVID-19 at this point in time,” the research firm said.

Consumers aren’t alone in their fears. Restaurants, retailers, and seafood business are also feeling financial tension, partly due to inflation as well as supply-chain disruptions, labor shortages, and credit card processing costs – all topics spotlighted in this latest edition of the Key Buyer 2022 Industry Update, brought to you by SeafoodSource.

Top headlines include:

• Retailers feeling overdrawn by rising credit card swipe fees
• Restaurants prep for seasonal challenges on road to recovery
• Inflation eating away at consumers’ wallets and seafood shopping habits
• And more!

Trying times like these are nothing new to the North American seafood industry, which has a knack for taking the lemons of hardship and making a ceviche of new opportunities. Explore the current trends and troubles impacting the modern industry in this PDF download.

Document length: 34 pages. Available as a download only.