The fish and seafood category generated more than $15 billion in total U.S. sales for 2011. Such activity represents a stagnation of growth due to a range of factors, not the least of which is a prolonged period of economic uncertainty that has consumers cutting back on higher price point items.
The industry is further challenged by a focus on factors such as food safety and resource sustainability that consumers are encouraged to support but, in fact, know little about. Such a knowledge gap, combined with ever-present reminders of challenges to the category in the form of environmental disasters are likely causing consumers to be purchase-wary.
With these points in mind, this report is focused on providing insights on the following topics to find out how some industry leaders continue to stay afloat and what needs to be done to keep others from sinking:
- Given continued economic uncertainty, how do fish and seafood consumers balance their interest in eating better with the economic realities of having to closely watch their food budget?
- What are the major market drivers and how do they interact with the overall competitive environment?
- What impact have environmental disasters such as the aftermath of the Japanese earthquake and tsunami and the lingering effects of the Gulf Coast oil spill had on consumer perception of fish and seafood?
- What sales opportunities do out-of-home consumption offer to branded fish and seafood manufacturers?
- Which retail channels are better equipped to market fish and seafood products, and what are they doing to leverage their competitive advantage to attract fish and seafood shoppers?
- Within the category, how are the various segments performing, and what are they doing to either build or regain sales momentum?
- What are some of the latest product innovations, and is there enough being done in this area to generate excitement for the category?
- What media strategies are industry leaders using to reach consumers?
- What are some of the latest restaurant menu trends, and what impact are they having on the type of fish and seafood that is eaten in-home?
- What role do key demographic factors such as race, income, gender, etc., play in the fish and seafood category, and what is their impact on the category for both the short and long term?
- How does environmental awareness enter into how fish and seafood manufacturers bring their products to market, and does it sync with what shoppers are looking for?