News Summary June 29, 2022
The Winding Glass: What Lessons Do The 2009 Recession Hold For Seafood Marketers Today?
The last time the seafood industry faced a genuine crisis was during the recession that started in 2008-09. During that time foodservice contracted but retail prospered by giving customers the opportunity to trade down to less expensive products. Looking at major seafood items, almost every single commodity lost substantial value between 2008 and 2010-2012, as U.S. consumers changed their buying habits. This is the situation we are heading into over the next year, and it is time to prepare for this changed business environment...
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