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Retail Report: Tilapia increases contribution
Sales steady despite higher retail prices
September 05, 2011
Rising prices are impacting overall seafood department sales. The average retail finfish price increased 6.8 percent during the 52-week period ending May 28, 2011, the second-highest price increase in the seafood department. This price spike fueled a volume decline of nearly 5 percent versus last year.
Despite an average retail price increase greater than the finfish average, tilapia volume has remained steady since last year while dollars increased by more than 6 percent.
Tilapia sales have not only grown in the latest 52 weeks, but have maintained upward movement over the past five years. From 2006 to present, average sales grew nearly 50 percent. Weekly store sales were approximately $403 per store, while in 2006 weekly sales were $254 per store.
Tilapia’s contribution to the seafood department has also been on the rise.
Tilapia contributed 6.5 percent to overall seafood department sales, a 0.5 percentage- point increase from the previous year. Tilapia also held a 17.8 percent share of total finfish sales, second only to salmon and 7 percent higher than No. 3-ranked catfish.
Regionally, the East maintained the highest average weekly sales, selling $481 per store, a marginal decline from last year. Tilapia contributed 4.9 percent to seafood department sales in the East, 1.6 percentage points less than the national average and the lowest dollar contribution of all four regions.
The South region had the highest contribution to seafood department sales at 7.9 percent, 1.4 percentage points higher than the U.S. average. The South had the second-highest weekly per-store sales ($432), up nearly 5 percent compared to last year.
The Central region increased average weekly sales by 11.6 percent to $394 per store and was the second-highest contributor to the seafood department at 7.2 percent.
The West region had the highest average weekly dollar sales growth versus last year, increasing 13.6 percent to $300 per store.
This sales review is provided by Perishables Group, an independent consulting firm in Chicago focused on innovation and creating value for clients in the fresh food industry.
Reported results are for the 52 weeks ending May 28, 2011, compiled from grocery stores nationwide, representing 62.7 percent of national supermarket ACV share.
Sales data provided by Perishables Group FreshFacts® powered by Nielsen.