Retail sales of red meat fall short of replacing eating out losses

Monday, 4 May 2020

Despite higher retail sales, overall demand for red meat is now slightly lower than it was before the coronavirus lockdown. Demand soared during the initial weeks of lockdown, in response to the widespread closure of eating out establishments, as consumers stockpiled groceries of all kinds. However, weekly data shows that more recently, demand for red meat that was eaten out of the home, has not all been replaced by higher retail sales.

 

This chart compares demand last year, with demand this year, and is based on weekly Kantar retail sales. We have assumed a complete closure of the eating out market (not including take-aways and deliveries), which covers around 80% of the foodservice sector. Many office canteens, schools and other institutions are also closed, not included in our eating out volumes, but before the lockdown accounting for around 12% of foodservice demand. As such, demand overall is likely to be even lower than this analysis indicates, albeit slightly.

Duncan Wyatt

Lead Analyst - Red Meat

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