Forty-eight percent of respondents in a recent survey said they were moving away from sustainable brands and products because of the current rising prices.
According to recent consumer research, two-thirds of shoppers believe that pork is a good value compared to other meat proteins — and price is still the number one indicator of purchasing intent.
Of shoppers who are concerned about rising food prices, only 32% reported in February that they are buying fewer items as a strategy to address rising prices, down from 41% in October.
Hormel Foods Corp. will increase advertising spend on its turkey portfolio in fiscal 2023 after raising prices in fiscal 2022. Highly pathogenic avian influenza (HPAI) should continue to impact the turkey category negatively in the next fiscal year, but to what degree remains unknown.