Consumers Forgo Restaurants, Cook Fancy Steaks At Home

Americans love steak. Now, in a recession, we still love it, but we’ve shifted to buying and cooking delicious high-end steaks at home instead of eating them in restaurants, thanks to greater availability of fancy cuts of meat to consumers.

Researchers at Midan Marketing surveyed customers about what meat they’re buying to cook at home, and discovered an increase in sales of premium meats in the past year. Consumers can’t afford to go out to restaurant, but still want delicious, delicious steaks.

The accompanying sales data showed sales remain strong for lower-priced meats such as ground beef, hot dogs, and chicken drumsticks. But, there was a noticeable increase in sales of higher-priced premium meats.

The sales volume of the more expensive “premium” steaks was up 15.5 percent in the third quarter from a year ago, versus a 13.2 percent rise in “regular” steaks, they said.

Much of that increase is being attributed to supermarkets having greater access to higher quality meats. Also stores have been running promotions to win customers during bad times so they will come back when the economy improves, said Uetz.

I think this is where everyone chimes in with their favorite steak-cooking tips.

Stay-at-home consumers bite into pricey steaks [Reuters]

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(Photo: RBerteig)