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Shoppers bypass the meat aisle, as recession looms

Costco shoppers are reining back on pricier products, and it's a good indicator that they're prepping for a recession.

In a call with investors on Thursday, executives from the warehouse chain shared insights into how their members are shopping, what they're swapping into their baskets, and what's being left behind.

CFO Richard Galanti said that some of its customers are ditching pricier beef products for cheaper meats such as pork and chicken. This is a trend that has been common in previous recessions, he said.

Others are bypassing the fresh meat aisle entirely and opting for canned meat and fish products. These items cost less and have a longer shelf life.

There are other indicators showing that Costco's customers are feeling the pinch. For example, the portion of sales from Costco's private label brand — Kirkland — grew during the most recent quarter. These products cost less than national brands and are a quick way for customers to save money on their weekly shop.

Moreover, the average daily transaction at Costco was down 4.2% worldwide and 3.5% in the US during the quarter. Costco said this number was primarily impacted by the drop in sales of big-ticket nonfood items, such as TVs and fridges.

As food prices have stayed high, some higher-income shoppers have chosen to switch up their weekly shopping routine entirely.

Discount chains like Dollar Tree and Dollar General say they've been big beneficiaries of this and are seeing a new customer base come to their store to shop for groceries.

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by Anonymousreply 9May 31, 2023 1:10 AM

Who's picturing Mary Richards right now?

by Anonymousreply 1May 30, 2023 11:33 PM

Sounds like our entire economic system is collapsing.

Corporate greed has reached its limit, and people are refusing to pay.

by Anonymousreply 2May 30, 2023 11:35 PM

R2, this is happening all over the world.

by Anonymousreply 3May 30, 2023 11:44 PM

Well, I understand bargain shopping. I only buy BOGOs now, and I find over the long term I can live quite well, especially since I have a separate fridge and deep freeze. Meat included.

by Anonymousreply 4May 30, 2023 11:44 PM

In fairness, yes inflation is global. Been to several developing and Third World nations.

Just like in the US, people are still out and about buying cheap Chinese trinkets to numb the reality of life.

They don't need meat, they need plastic, fast fashion, and immediate gratification.

I feel for future generations.

by Anonymousreply 5May 31, 2023 12:08 AM

Mary always went for the fish over the meat...

by Anonymousreply 6May 31, 2023 12:10 AM

What is a meat aisle?

by Anonymousreply 7May 31, 2023 12:43 AM

r7 - It's a gay bar thing, D.O.

by Anonymousreply 8May 31, 2023 12:49 AM

[quote] What is a meat aisle? —Darfur Orphan

[quote] R7 - It's a gay bar thing, D.O.

No, the gay bar is a meat MARKET.

The meat aisle is the lineup at the urinal.

by Anonymousreply 9May 31, 2023 1:10 AM
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