UK consumers spend more on beef
The latest red meat consumer data from Kantar has indicated a 7.5% increase in consumer spend on beef in the UK during the 12 weeks ending September 14 when compared to the corresponding period in 2013.
An Livestock and Meat Commission (LMC) analysis of the figures shows that during the 12 week period in 2014 expenditure on beef in the UK totalled £438 million compared to £408 million in the 2013 period.
According to LMC this increase in the value of beef sales was driven by a 4% increase in volume sales with an additional 2,185 tonnes of beef purchased by UK consumer’s year on year.
The LMC also says an increase in the average retail price year on year has also helped to increase the total value of beef sales. The Kantar figures show that in the 12 weeks ending September 14 the average retail price was £7.83/kg compared to £7.58/kg in the corresponding period in 2013. This increase by 25p/kg accounts for a 3% increase in retail price year on year.
The latest data from Kantar has also indicated an improvement in household penetration with 68.2% of shoppers purchasing beef during the 12 week period compared to 67.1% of shoppers during the corresponding period in 2013.
The LMC also says the average spend per trip has also shown a slight increase year on year to £5.73 in the 2014 period, a 3% increase from the £5.58 in the 2013 period.