U.K. chilled seafood sales continue to decline due to inflation, and the outlook for the holiday season has become grimmer.
For the 12 weeks to 2 October, chilled fish sales dropped 4.8 percent by value and 9.2 percent by volume, according to Kantar.
“Chilled fish starts at the highest price point per kilo at GBP 12.58 [USD 14.60, EUR 14.66], meaning there is a lower ceiling in price expansion before it starts to impact shopper numbers,” Kantar Consumer Insight Director Stewart Wise said in the firm’s Meat Fish and Poultry Market Update.
Britons typically spend more on premium seafood during the holiday season, but turkey is usually the top choice of Britons for Christmas. However, turkey is falling out of favor due a spike in price this year. Turkey sales dropped 5.4 percent for the 12 weeks to 2 October, according to Kantar, with its price rising an average of GBP 3.00 (USD 3.48, EUR 3.50) year-over-year, according to The Mirror.
As a result, while turkey remains the top choice of Christmas entree, 23 percent of Britons will choose something else this year, Tesco said in its Tesco Christmas Report 2022. Replacements could include meat and fish dishes, plant-based options, or “flavors from across the globe,” according to the massive retailer.
More Britons will be gathering for Christmas dinner and throughout the season, Tesco found. Forty-seven percent plan to go out less this Christmas season, while 23 percent will go out more.
Due to the easing of COVID-19 restrictions this year, 21 percent are planning to socialize more, and 18 percent will socialize less. Sixty-four percent will be putting out a party spread, and 9 percent plan to spend more on party food than last year, the Tesco report said.
At social gatherings, 13 percent will offer seafood options, such as scallops, lobster, and prawns.
However, an Accenture poll found that 70 percent of citizens plan to cut back on overall holiday spending this year, per Bloomberg. Thirty-five percent of Britons are cutting back on food and drink purchases for home consumption, while 46 percent say they plan on reducing how much they go to restaurants
Meanwhile, Waitrose said sales of fish heads – often the cheapest fish product on offer at retail – are up by a third due to consumer concern about inflation, according to Bloomberg.
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