Grocers Roll Out Plant-Based Burgers-At Prices Below Beyond Meat
Reporting by Richa Naidu in Chicago. Additional reporting by Siddharth Cavale in Bengaluru.; Editing by Leslie Adler and Steve Orlofsky, Reuters
via The New York Times - Jan. 9, 2020
CHICAGO — Cashing in on rising demand for imitation meat, major retailers including Kroger and Walmart recently began to carry Beyond Meat's plant-based burgers and sausages.
Now, several stores are creating similar products that will compete with Beyond Meat.
Kroger Co, the biggest U.S. grocer, on Wednesday rolled out its own line of plant-based imitation meat burgers nationwide under its Simple Truth in-house brand. The retailer said its pea protein-based products would be sold at "more affordable prices" than competing brand-name imitation meat. A Kroger spokeswoman said a two-patty pack would sell at about $4.99 to loyalty-card-holding customers.
German-owned discount supermarket Aldi U.S., which sells Meatless Meatballs and Chickenless patties, said it keeps its plant-based meat products at prices ranging from $3 to $4.
In comparison, a package of two Beyond Burgers sells for about $5.99 at some major big-box stores.
Aldi, which plans to launch more products this year and is testing a meatless breakfast sausage, told Reuters that sales of its store-brand plant-based meats were up 300% last year.
"It wouldn't surprise me if it was up 300% again this year," Scott Patton, who co-heads corporate buying at Aldi, said. "If a customer is going to purchase a competitor's plant-based product versus an Aldi one, ours will be significantly cheaper"...
... Private-label brands will need to sell plant-based products at a net wholesale cost that is about $1.25 lower than Beyond Meat and other rivals, private label consultant Jim Wisner of Wisner Marketing Group Inc said...