“As U.S. consumers notice their dollar does not go as far as it used to, they may ‘trade down’ in their protein purchases, favoring chicken more often.'
High meat prices could drive many consumers to “trade down” to chicken, according to a report from CoBank, which services agribusiness and farm customers.
But with inflation at a 40-year high, shoppers are becoming more price sensitive. Grocery budgets are being stretched thin, and CoBank expects shoppers to buy more chicken as the year continues. “As U.S. consumers notice their dollar does not go as far as it used to, they may ‘trade down’ in their protein purchases, favoring chicken more often than was the“However, we do not anticipate that the trade-off will be as severe as what happened in 2006-15 when chicken rapidly became a major presence onSome analysts are already anticipating that lower-income consumers will begin trading down in 2022.
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