Seafood sales have two distinct sectors- retail sales and food service. Traditionally food service, or restaurant and bar sales, has been the highest-priced seafood products because they had the most value added. But as the consumer spending is rising industry experts advised fish farmers that no matter what shape the economy is in, people still have to eat. And John Sackton, president of Seafoodnews.com, says there’s no reason they shouldn’t be eating seafood.
Sackton said that retail sale has an opportunity for permanent growth. He added that if food service is gloomy, retail is the bright spot. In numbers Sackton presented to the group, overall retail sales in the United States are down more than 11 percent, but sales at grocery stores are up two percent. While those numbers include an increase in prices, Sackton points out that retail sectors are, if nothing else, showing room for growth.
According to Sackton mussels are a perfect example because many people don’t actually know how to cook them in their shells so they’ll buy the pre-cooked, frozen product for dinner. Meanwhile, the price at which suppliers sell to supermarkets will have to be adjusted as well.
British retailer ASDA, which falls under the Wal-Mart umbrella, has started a hotline to allow customers to make complaints about items they believe are overpriced for their value. The consumers’ interest in sustainable food won’t be diminished because of economic factors, Sackton says.
