Are Consumers Still Satisfied With Steak?

The National Cattlemen’s Beef Association (NCBA), on behalf of the Beef Checkoff, is continually monitoring and identifying the main drivers of beef demand. These five primary demand drivers are thought to be some of the most significant influencers of beef demand, and consist of eating experience, convenience/versatility, price, raised/grown, and nutrition. NCBA, on behalf of the Beef Checkoff, conducts regular studies to monitor beef’s performance within these primary demand drivers. One such survey makes use of the Consumer Beef Tracker to continually monitor reported levels of consumer satisfaction while eating various beef products. 

Beef steak has historically been a popular cut among beef consumers, both at retail and foodservice. While beef steak may be associated with a higher average price compared to other protein products, a consistently satisfying eating experience continues to drive its popularity. 

Consumer satisfaction remains the highest for steak products, both at home and at a restaurant. Figure 1 shows that consumers recognize and appreciate the eating experience received from purchasing beef steak. Interestingly, claims of satisfaction are higher at home for all three products, potentially because meals at home can be customized much easier than meals at a restaurant. This trend also comes in light of decreasing restaurant visits across the food service chain. Foodservice traffic has decreased over 10% year-over-year in June 2022, with a further yearly decrease from March to May 20222. As inflationary pressures continue to rise, consumers are being forced to alter their preferences and household budgets. 

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