Are you still buying steak during this cost-of-living crisis? Coles reveals surprising new shopping trends!
- Replies 12
‘Quality before quantity’ is a phrase often tossed around, especially when talking about food.
But with the ongoing cost crisis, it seems Australians are being forced to rethink that philosophy.
Vittoria Bon, Coles manager of government and business relations, revealed that certain meats had become somewhat of a luxury. Essentially, she suggested that steak, a perennial favourite, is being replaced with cheaper meat alternatives.
‘Customers are more conscious… and with cost of living, they are trading down into more value products,' she said.
‘For example, instead of perhaps buying steak, people will buy mince, which we've got dropped and locked at $12 for a kilo, so there is a change in what people are buying as well as when they shop.'
The cost difference certainly seems significant considering that 1kg of T-bone steak, according to Coles, is going for as much as $30 a kilo these days.
But the changes in consumer buying habits aren't just limited to substituting steak for mince. Bon also highlighted that customers had been shopping more frequently, in the hopes of nabbing a bargain.
'Smaller baskets happening more frequently. So people might shop around, daily or every second day rather than one, weekly shop,' she revealed. Paul Harker, Woolworths chief commercial officer, also chimed in, pointing out that meat prices were also affected by crude oil and grain price hikes.
Supplier requests for wholesale price hikes also increased fivefold, meaning shoppers would have to wait before prices lower.
But not all is doom and gloom though, as he added: ‘We are starting to see meat prices, in some instances, come down if you think of beef and lamb, less so in pork.’
Mr Harker also had disheartening news regarding dairy prices.
'The biggest area we've seen with cost increases has been across the dairy category and that's been a result of the significant lift in farmgate milk prices across the board,' he said.
Of course, supermarket prices fluctuate depending on several factors, and we can only hope for a positive turn. It's worth noting that both Coles and Woolworths affirmed that meat is a crucial staple for their customers, which they aim to provide at a reasonable price even amidst this crisis.
In line with this, let's not forget the competition either. With the increasing cost-of-living pressures, people are becoming more conscious about the various specials offered by all retailers, be it Coles, Woolworths, ALDI, IGA, or even your local butcher.
If steak is squarely out of your budget for the time being, fret not. Australia has an abundance of foods rich in protein and nutrients that can easily—and tastily—replace the meat on your plate.
Think beans, lentils, legumes, and nuts. These plant-based alternatives pack a hearty punch, are budget-friendly, and highly underrated. Not to mention, they are much lighter on the ol' ticker too. Preparing a delicious lentil soup or a kidney bean stew can not only be a refreshing change but a real cost-effective option in these challenging times.
Next up are eggs and dairy. Now, yes, we did touch on how dairy products prices have also seen a rise. However, in comparison to red meat, they are still a more affordable source of protein. And with eggs being a good source of both protein and essential vitamins, they are like nature's own supplement.
But, what about fish you ask? For those of you living closer to the coast, fresh seafood can often be a fabulous substitute for meat. Then for those further inland or budget-conscious, canned fish like sardines or tuna can be a store-cupboard essential, and are still good value particularly when they're on special.
Even whole grains like quinoa, oats and brown rice are jam-packed with proteins. And let's not forget, they make a hearty side to any meal, or even just a tasty salad for those long, lazy lunches when turning on the oven seems like the very definition of uncool.
We also have tofu and tempeh for those wanting to test the waters with more ‘exotic’ plant-based proteins. They are fairly versatile and can be used in stir-fries, on the BBQ, in casseroles, or even sandwiches.
Now while these may not sizzle and sear like a good old Aussie steak, as well as being cheaper, they’re a whole lot healthier for you too. Take this article as a friendly reminder from us here at the Seniors Discount Club to keep your plates colourful, your taste buds tingling, and your trolleys filled with alternatives.
And finally, while it is worthwhile being prudent with our spending, we believe it's just as important to enjoy life too. So, if a steak is what you dream about, then by all means, treat yourself every now and then.
Remember, in times of crisis, it's not just about surviving but also about living. Steak or mince, potato or po-tah-to, let's not let inflation take away the pleasure of good food for us all. Stay savvy with your shopping, folks!
But with the ongoing cost crisis, it seems Australians are being forced to rethink that philosophy.
Vittoria Bon, Coles manager of government and business relations, revealed that certain meats had become somewhat of a luxury. Essentially, she suggested that steak, a perennial favourite, is being replaced with cheaper meat alternatives.
‘Customers are more conscious… and with cost of living, they are trading down into more value products,' she said.
‘For example, instead of perhaps buying steak, people will buy mince, which we've got dropped and locked at $12 for a kilo, so there is a change in what people are buying as well as when they shop.'
The cost difference certainly seems significant considering that 1kg of T-bone steak, according to Coles, is going for as much as $30 a kilo these days.
But the changes in consumer buying habits aren't just limited to substituting steak for mince. Bon also highlighted that customers had been shopping more frequently, in the hopes of nabbing a bargain.
'Smaller baskets happening more frequently. So people might shop around, daily or every second day rather than one, weekly shop,' she revealed. Paul Harker, Woolworths chief commercial officer, also chimed in, pointing out that meat prices were also affected by crude oil and grain price hikes.
Supplier requests for wholesale price hikes also increased fivefold, meaning shoppers would have to wait before prices lower.
But not all is doom and gloom though, as he added: ‘We are starting to see meat prices, in some instances, come down if you think of beef and lamb, less so in pork.’
Mr Harker also had disheartening news regarding dairy prices.
'The biggest area we've seen with cost increases has been across the dairy category and that's been a result of the significant lift in farmgate milk prices across the board,' he said.
Of course, supermarket prices fluctuate depending on several factors, and we can only hope for a positive turn. It's worth noting that both Coles and Woolworths affirmed that meat is a crucial staple for their customers, which they aim to provide at a reasonable price even amidst this crisis.
In line with this, let's not forget the competition either. With the increasing cost-of-living pressures, people are becoming more conscious about the various specials offered by all retailers, be it Coles, Woolworths, ALDI, IGA, or even your local butcher.
If steak is squarely out of your budget for the time being, fret not. Australia has an abundance of foods rich in protein and nutrients that can easily—and tastily—replace the meat on your plate.
Think beans, lentils, legumes, and nuts. These plant-based alternatives pack a hearty punch, are budget-friendly, and highly underrated. Not to mention, they are much lighter on the ol' ticker too. Preparing a delicious lentil soup or a kidney bean stew can not only be a refreshing change but a real cost-effective option in these challenging times.
Next up are eggs and dairy. Now, yes, we did touch on how dairy products prices have also seen a rise. However, in comparison to red meat, they are still a more affordable source of protein. And with eggs being a good source of both protein and essential vitamins, they are like nature's own supplement.
But, what about fish you ask? For those of you living closer to the coast, fresh seafood can often be a fabulous substitute for meat. Then for those further inland or budget-conscious, canned fish like sardines or tuna can be a store-cupboard essential, and are still good value particularly when they're on special.
Even whole grains like quinoa, oats and brown rice are jam-packed with proteins. And let's not forget, they make a hearty side to any meal, or even just a tasty salad for those long, lazy lunches when turning on the oven seems like the very definition of uncool.
We also have tofu and tempeh for those wanting to test the waters with more ‘exotic’ plant-based proteins. They are fairly versatile and can be used in stir-fries, on the BBQ, in casseroles, or even sandwiches.
Key Takeaways
- Supermarket giant Coles has revealed that customers are buying less steak and switching to minced meat due to the cost-of-living crisis.
- The change in meat buying behaviour was confirmed by Vittoria Bon, Coles' manager of government and business relations, citing that certain meats have become luxury items.
- Coles also noted that customers are shopping more frequently in smaller amounts to take advantage of changing specials.
- Contrasted with Coles' stance, Woolworths hinted at the continuation of high milk prices due to cost increases in the dairy category.
And finally, while it is worthwhile being prudent with our spending, we believe it's just as important to enjoy life too. So, if a steak is what you dream about, then by all means, treat yourself every now and then.
Remember, in times of crisis, it's not just about surviving but also about living. Steak or mince, potato or po-tah-to, let's not let inflation take away the pleasure of good food for us all. Stay savvy with your shopping, folks!