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Figure 3

ways to use leftovers . Additionally , consumers are also planning to trade down on brand name items as 25-30 % say they will buy store or private label brands instead or shop more at discount / less expensive stores . 6

E-Commerce Normalized

The e-commerce marketplace continuously grew throughout the pandemic as consumers adapted their everyday lifestyles , especially when it came to shopping . Online shopping , including both click-and-collect and scheduled delivery , became very popular and has maintained viability but has lost some of the momentum from previous years . Most consumers are currently using these platforms and services monthly , with three-quarters actively ordering meals and more than half ordering groceries . 6 Those who continue to use these services value convenience and find them quick and easy to use . 6

Looking specifically at e-commerce patterns at retail stores , consumers ' online shopping carts primarily consist of shelf-stable items , such as soda , water , juice , frozen items , dry / boxed / bagged food , but 43 % of consumers who shop online also included beef in their carts in the past month . 6 Of those who included fresh beef in their online carts , most were satisfied with their purchase , were satisfied with the quality and freshness of the beef , and overall liked the service . 6

In Conclusion

Increasing costs of essentials have caused consumers to continue utilizing cost-saving measures . Online grocery shopping has lost some momentum with consumers but still remains a viable marketing option for beef sales . While consumers still report high satisfaction with beef consumption , price will remain a top priority moving forward . Given beef likely won ’ t experience any price relief on the supply side , the main unknown for beef retail performance will be consumer demand . While demand for beef has held steady so far , several concerning economic clouds exist on the horizon that may challenge consumers at the retail beef section throughout the rest of 2023 .

Sources

1 . NielsenIQ , Discover Platform , Retail Sales for Select Fresh Proteins , Retrieved August 2023 .

2 . U . S . Department of Agriculture , Economic Research Service , U . S . Red Meat and

Poultry Forecasts , Retrieved August 2023 . 3 . U . S . Bureau of Labor Statistics , Consumer Price Index , Retrieved August 2023 . 4 . U . S . Bureau of Economic Analysis , Personal Income and Outlays Report , Retrieved

August 2023 . 5 . Federal Reserve Bank of New York , Quarterly Report on Household Debt and

Credit , Retrieved August 2023 . 6 . State of Consumer Survey , analyzed and summarized by NCBA , on behalf of the

Beef Checkoff , June 2023 .

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34 NATIONAL CATTLEMEN DIRECTIONS 2023