While U.S. consumers are likely to remain conscious on price, both the volume and value of fresh finfish sold at retail is recovering.
Consumers’ changing seafood-purchasing habits was the gist of a webinar hosted by SeafoodSource and presented by Steve Lutz, executive VP of market research and consulting firm Perishables Group, on Thursday.
The webinar — Fresh Finfish Performance at Retail and the Impact of Shifting Consumer Values — can be purchased and downloaded for USD 95 by clicking here. The webinar includes an hour-long Power Point presentation followed by a 30-minute question-and-answer session.
During the webinar, Lutz said consumers are making value-based decisions, such as trading down to less expensive seafood items. For example, instead of buying halibut or haddock, consumers are increasingly turning to tilapia or catfish.
However, price points are not the only determinant. Factors such as package size, seasonality and location, purchase criteria, occasion and demographics are also impacting consumers’ seafood purchases.
Lutz urged retailers to remember that understanding demographics and how consumers are making purchasing decisions are more important than ever.
