Recession Treats ‘Beef’ For Costco Customers

As the recession worsens and creeps deeper into our wallets shoppers are now more wary of what goes into their carts, mainly meats.

In an investor call, Costco CFO Richard Galanti said customers are less interested in pricier beef products and are instead opting for cheaper pork and chicken products. Furthermore, canned meat and fish purchases are on the rise too as a result.

The average daily transaction at Costco was down 4.2 percent worldwide and 3.5 percent in the United States during the quarter, according to Costco’s wholesale report.

Furthermore, when looking at the food-at-home index fell 0.2 percent in April, following a 0.3 percent decrease in March, according to the Bureau of Labor Statistics.

Posted June 1, 2023