Seafood
Strategies to Attract Consumers to Fresh Seafood
Despite declining prices in the fresh seafood category, sales have continued to drop. While the average price of fresh seafood fell by 1.8% over the past year, volume sales also decreased by 2.2%, according to market research firm Circana. This contrasts with the frozen and shelf-stable seafood categories, where price cuts have led to slight sales increases. The reluctance of consumers to add fresh seafood to their carts may be due to its higher cost compared to other proteins, such as chicken and beef. For example, the USDA reports that chicken breasts can be priced as low as $2.50 a pound, while fresh seafood averages $9.52 per pound.
To counter this trend and boost fresh seafood sales, retailers need to adopt several key strategies. Melissa Rodriguez, Circana’s vice president of perimeter, suggests five ways to entice shoppers back to the seafood counter:
- Differentiating the Seafood Counter: Retailers should offer unique species and value-added products like pre-marinated or pre-seasoned options. These items cater to consumers seeking convenient, ready-to-cook meals that can be prepared quickly, a growing trend as people have less time for home cooking.
- Educating Consumers: Teaching shoppers how to cook and prepare more exotic or unfamiliar seafood can remove a major barrier to purchasing. In-store demonstrations, recipe cards, and digital content can help boost consumer confidence in trying new seafood dishes.
- Promoting Convenience: With many consumers looking for meals they can prepare in under 30 minutes, retailers should spotlight seafood options that align with this need. Value-added products may come at a premium, but they appeal to shoppers willing to pay for convenience.
- Highlighting Price Reductions: Even as prices drop, many retailers are reducing promotions. Instead, stores should actively advertise price reductions through in-store signage and smartphone apps. Effective communication of competitive pricing can drive traffic to the seafood counter.
- Creative Merchandising: Retailers can use creative merchandising techniques, such as signage at store entrances leading customers to the seafood department. This can help increase awareness and draw attention to the fresh seafood section, improving overall sales.
By focusing on these strategies, retailers can potentially reignite consumer interest in fresh seafood and differentiate their offerings from competitors, turning the seafood counter into a destination for unique and convenient meal options.