Most of the time, the Midan team is focused on looking forward, with our research eye trained on today’s meat consumers: In what ways are they evolving into the meat eaters of tomorrow? But around this time every year, we stop and take an intentional look backward—specifically, at our Top Trends to Watch report. Because consumers are a constantly moving target, we like to explore how our predictions from December are shaking out as the year progresses.
Below, we highlight two key trends that have continued to evolve in 2024: Inflation and Sustainability
Inflation is Still a Thing: When the Dollar Menu is Not $1 Anymore
Consumer prices jumped 3.3% year-over-year on an unadjusted basis in May while food prices increased 2.1%, according to the May 2024 Consumer Price Index.1 Although these stats indicate that inflation is technically easing, it’s hard to reconcile that with ongoing sticker shock at the grocery store; shoppers continue to feel pressure on their pocketbooks.
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