Much attention is being paid to the higher cost of beef, yet sales data and market research show consumer demand for beef remains strong. Beef continues to be a cornerstone of the retail meat case, it’s featured on almost every restaurant menu, and Americans continue to purchase beef, even at higher prices.
Background
Americans are seeing higher food prices when shopping and dining out. But the rising cost of beef is not deterring Americans from buying beef at the store or enjoying a beef meal at their favorite restaurant. While consumers are price-conscious, other factors are becoming just as important when deciding what food to buy. Things like convenience, taste/product quality, and health are influencing purchase decisions.
Overall, 90 percent of Americans say they are still enjoying beef on a monthly basis, and more than 70 percent say they find steak prices acceptable at the grocery store and in restaurants.1 The demand for beef is strong and we are seeing this demand in the form of higher prices.
To read the rest of the story, please go to: Beef Issues Quarterly
