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Retail Report: Lower retail prices drive growth
Department dollar, volume sales increase in Q1
July 01, 2013
The seafood department posted gains during the first quarter (Q1) of 2013. Compared to the previous year, the department generated increases in both dollar and volume sales, which continues a steady trend of growth for the seafood department over the last five quarters.
The department’s average weekly dollar sales increased 5 percent during the first quarter of this year compared to the previous year. Average weekly volume sales experienced even greater growth, increasing 6.5 percent over Q1 2012. Average retail prices for seafood fell slightly, contributing to department dollar growth.
Fresh seafood dominated the department, generating 78.4 percent of seafood department dollar sales during the first quarter of this year. Prepared seafood followed, contributing 18.1 percent to department dollar sales, with other seafood (dips and spreads, sauces, sides) accounting for the remaining 3.5 percent of Q1 seafood dollar sales. Each of the super-categories experienced dollar and volume growth over the previous year, with the greatest increases in fresh seafood and other seafood, increasing 5.7 percent and 6.2 percent, respectively, in dollars and 7.9 and 4.4 percent, respectively, in volume sales.
Seafood department sales increased across all U.S. regions during the first quarter of 2013. The Southern region showed the greatest increases over Q1 2012, with 5.6 percent dollar growth and an 8 percent increase in volume. While the Eastern region had modest volume growth, it generated the highest weekly sales with an average of $10,061 per store, significantly higher than the national average of $7,236. The West and Central regions were lower than the national averages of weekly per-store dollar and volume sales. However, both regions experienced an increase in sales over the previous year, with dollars increasing 4.3 percent and 5.1 percent, respectively, and volume increasing 5.2 and 6.1 percent, respectively.
The top-selling weeks for the seafood department during Q1 2013 were the weeks of New Year’s and Valentine’s Day. The week ending Jan. 5 posted average sales of $8,850 per store, while the week ending Feb. 16 posted average sales of $8,538 per store.
The seafood department experienced a slight decline in average retail price during Q1 2013, down 1.3 percent compared to Q1 2012. Fresh seafood accounted for the department’s average retail price decline, which decreased 2 percent compared to the previous year. This sales review is provided by Nielsen Perishables Group. Based in Chicago, Nielsen Perishables Group specializes in retail measurement, analytics, marketing communications, category development, promotional best practices and shopper insights. Reported results are for Jan. 5 through March 30, 2013. Results were compiled from key U.S. grocery, mass/supercenter and club chains, including 18,000 stores nationwide. For more information, contact Kelli Beckel at the Perishables Group: (773) 929-7013, firstname.lastname@example.org.
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