Meat retailer and distributor Meatworld International Inc. said on Wednesday that it expects sales to grow by a single digit despite the decline in meat consumption due to inflation and peso depreciation.
According to Meatworld International COO Bernadette Lee, the supermarkets where they distribute their products have observed that while consumption on food items like condiments, spices and the like has increased, the demand for the fresh meat category has declined.
“In fact, this year, the first quarter saw a really big drop in consumption versus last year,” she said during a press briefing in Makati City.
Even if consumers have gone back slowly to the supermarkets in the second quarter due to the easing of mobility restrictions, she said they still “bought in smaller units.”
The buying public, particularly the working-class with limited budget in terms of more expensive food items, such as pork and beef, would rather purchase eggs, noodles, or canned goods within their means given the hastening of inflation, Lee noted. “Therefore, consumption also is affected by that,” she said.
She said the company is bullish on its prospects for the fourth quarter despite the continuous appreciation of the US dollar.
“We are hoping that there will be revenge buying [that is] so similar to the restaurant industry where they have revenge eating out.”
Seeing the fresh meat industry’s tough situation at present, the COO believes that this is just temporary because protein meats, particularly pork and chicken, are integral parts of the Filipino diet.
“We are about to bounce back, hopefully, last quarter of this year and, of course, we’re hoping that next year, it’s going to be a better year for the meat business [in general],” she said.
The company is upbeat that it can still achieve a single-digit sales growth this year.
“There is a slight growth despite the depression in [meat] consumption in the first quarter of this year because [the economy] has opened up,” Lee said. “Most of our growths will be coming from supplying to key accounts or wholesale clients like hotels, restaurants and caterers.”
Established in 1996, Meatworld International Inc. has been in the business of meat retailing for about 25 years. At present, it distributes meat products, such as pork, beef, chicken, and seafood items in 740 major supermarkets, as well as convenience stores 7-Eleven and Shell Select.
The company employs over 1,500 butchers and merchandisers serving fresh, safe and high-quality meats to consumers.
The firm also supplies to a lot of hotel, restaurant and caterer clients nationwide. Also, it has a strong online presence due to its e-commerce site (mrsgarcias.com.ph) and other aggregators, such as foodpanda, Grab Mart, Lazada and Shopee.
Just recently, it has begun offering its community store, Mrs. Garcia’s Meatshop, for franchising. The first store opened in Congressional Avenue in Quezon City last October 11.
“The last few years have seen tremendous growth for Mrs. Garcia’s Meats. In many supermarket chains and eateries, people have come to trust our brand,” Lee said. “By providing a franchise option to our customers, mompreneurs, and every Filipino looking for business prospects, we hope to spread the word about these success stories.”