April 2024
What's New
Foodservice Inflation
Value Continues to Dominate the Meal Landscape
- In an April study among 1,700 U.S. consumers, 210 Analytics found that 34% of consumers are worse off financially now than they were one year ago. While food-at-home inflation has been mild all year, the cumulative impact of inflation has nine in 10 shoppers concerned about grocery and restaurant prices.
- Food-away-from-home inflation has outpaced at-home inflation in the past few months. According to Circana’s Darren Seifer, restaurant traffic for the first quarter fell 2%, reflecting the consumer concern.
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- Among those with greater financial pressure, home-cooked meals are seen as a solution to help balance spending. The study found that these households are more focused on price and sales promotions when shopping for groceries and tend to de-emphasize nutrition and time-saving solutions. They are more likely to purchase private-brand items and show a much greater willingness to change what they are purchasing, while keeping a close eye on sales promotions across multiple stores. Households with improved finances are more likely to buy from restaurants more often.
- The April numbers are impacted by Easter shifting from the second to the first quarter of this year. While the week ending 3/31 in last month’s report showed big year-on-year increases in volume across departments, the results of the week ending 4/7/2024 in this report reflect the gap versus last year’s Easter.
State of Produce
April 2024 | Price/Lb. | $ Sales | $ vs. YA | Lbs. vs. YA |
Fresh Fruits | $1.80 | +3.2% | $3.6B | +3.5% | +0.3% |
Fresh Vegetables | $2.04 | +1.7% | $3.4B | +1.5% | -0.2% |
Top Growth Commodities (NEW $)
Absolute $ gain vs. YA
Grapes | +$56.9M |
Avocados | +$43.1M |
Grapes | +$25.0M |
Avocados | +$21.9M |
Mandarins | +$34.7M |
Onions | +$32.6M |
Berries | +$26.3 |
Lettuce | +$22.2M |
Tomatoes | +$21.2M |
Cucumbers | +$14.8M |
Peppers | +$13.9M |
Tangerines | +$11.3M |