Seafood snack sales rebound post-quake
China Marine Food Group on Monday said sales of its Mingxiang seafood-based snack foods reached USD 4.6 million in August, up 4 percent from USD 4.4 million in July.
Beginning in the second quarter of 2011, sales of the company’s seafood snacks were negatively impacted by consumers’ concerns stemming from the nuclear disaster in Japan and the safety of seafood. China Marine has also worked to alleviate those concerns, including increased advertising and more frequent communications with its distribution partners. Sales of its seafood snacks have stabilized since June, with month-over-month data showing positive sales trends and a return of consumer confidence in July and August.
“We are pleased to report our seafood snack food sales have steadily improved since June,” said Pengfei Liu, chairman and CEO of China Marine. “Because we source our fish from several local areas completely unaffected by the disaster in Japan, we remain confident in the long-term health of our business and anticipate a full recovery of sales momentum for Mingxiang-branded seafood snack foods. I am also encouraged with the progress we have made with our seaweed extract Hi-Power beverages. Through effective in-store promotions and multimedia advertising campaigns, more consumers are buying our healthy beverages.”