In 2009, however, sales of seafood items turned around and increased, driven by the perceived value of lobster, crab and halibut—three of the relatively higher-priced seafood items.

The Perishables Group surveyed 1,000 Americans in October 2009 to ask how they were trying to economize compared to the year before; 40% said they were just buying less and 35% said they were purchasing economy packs (stocking up when prices are lower).

Additionally, 69% reported choosing meat and seafood items on sale over items that were not on sale. Shoppers also were willing to trade to a different item based on sale price; 58% said they were likely to purchase a meat or seafood item that was on sale instead of an item they normally purchase that was not on sale.

Health also played a significant role in the seafood items’ success last year. When asked why they were eating more fresh seafood than they did the year before, 82% of consumers attributed it to trying to eat a healthier diet. Additionally, 34% said they were eating less meat, and 18% said they were eating more fresh seafood because they wanted their children to eat healthier.

With the fluctuation in seafood sales in 2008 and 2009, and the recent oil spill in the Gulf of Mexico impacting supply, it is difficult to predict how the industry will do in 2010. It is clear, however, that consumers will spend more for fresh food ingredients if there is a perceived value attached to the item. For some, value means a good price; for others, value means purchasing items that help improve health. The key is: Know your consumers and what value means to them.

The Perishables Group is a Chicago-based consulting firm focused on creating innovation and value for clients in the fresh food industry. Perishables Group expertise includes research, analytics, marketing communications, category development, supply-chain management and activity-based costing.

Photo: Alaska King Crab Tostones. Courtesy of the Alaska Seafood Marketing Institute.