Valentine’s Day boosts meat despite deflation

CREDIT:

Most meat categories enjoyed a Valentine’s Day boost to sales, according to the latest data from Kantar Worldpanel, but continued to be hit by deflationary pressures.

All meat categories, except sliced meats, have seen volume growth for the 12 weeks ending 1 March 2015.

Fresh beef enjoyed the highest volume sales, worth £557.3 million for the 12-week period. Meanwhile, sliced meats saw a decline in sales of 2.8% for the 12-week period.

Kantar said all retailers offered Valentine’s Day promotions on meat products, successfully driving growth in ‘Meal Deals’ over £10.

However Kantar said the retail meat sector continued to be hit by food deflation, which the British Retail Consortium (BRC) said in February was down 1.7% on last year amid supermarket wars and a drop in commodity costs.

Fresh food prices were down 1.2%, in the deepest deflation the BRC has recorded since its records began in 2006.

Nathan Ward, strategic insight director for Meat, Fish and Poultry at Kantar Worldpanel explained: “While it’s good news that all categories have experienced volume growth in the latest 12 weeks, fresh primary meat and poultry continue to be hit by deflationary pressure across the major categories. The average price per kg is down 20p versus last year and is one factor stimulating volume growth. The volume growth in beef and chicken has been driven by falling everyday prices in beef mince and chicken legs and increased price promotions in beef roasting joints and chicken breasts. The activity in beef has driven half a million more shoppers into the category compared to last year.”

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