EUMOFA talk on consumer behaviour

The European Market Observatory for Fisheries and Aquaculture products (EUMOFA), an initiative of the European Commission DirectorateGeneral for Maritime Affairs and Fisheries (DG Mare), hosted an insightful talk titled “Seafood on a budget: How EU consumers are adjusting to reduced purchasing power” on 5 July.

During the two-hour event moderated by Francesca Barazzetta from EUMOFA, three experts from the sector discussed the profound impact of external shocks, including Brexit, the COVID-19 crisis, and the Russian invasion of Ukraine, on the shery and aquaculture markets. ey explored how consumers are adapting to these challenges while striving to maintain their seafood consumption in an increasingly cost-sensitive environment.

Understanding factors affecting demand

e event was opened by Christophe Vande Weyer, Policy o cer in DG Mare, who highlighted the signi cance of the topic. Showing the perspective of the commission, he emphasised how the shery and aquaculture sector has experienced considerable disruptions in the last years, such as social distancing measures and increased fuel costs, which have mainly a ected the supply side. However, the European

Commission supported this talk as it would shed light on the demand side as general in ation a ected consumer purchasing power.

Dimitar Taskov from the Food and Agriculture Organization of the United Nations (FAO) discussed trends in demand for eco-labelled sheries and aquaculture products in the European Union (EU) amidst the challenging economic situation. Rising global food prices and their implications for food security were highlighted. Consumers react to increasing prices by adopting strategies like reduced consumption or substitution. e market responses varied across EU countries, showing heterogeneity in consumer behaviour. Eco-certication, a market-based approach to sustainability, was discussed as it relies on consumer choices to drive sustainable production. While price premiums associated with eco-labels may decrease over time, the overall quantities of certi ed seafood are expected to increase, driven by retail and production commitments.

Healthful and sustainable products increase in popularity

e second speaker, Els Bedert from Eurocommerce, provided valuable insights into the evolving consumer demands in the retail and wholesale sector. Today’s consumers are not only concerned about the taste and quality of their seafood but are increasingly conscious of their health and environmental impact. As a result, there is a growing preference for healthier and more sustainable food options. Bedert also emphasized the need for greater transparency in the supply chain, as consumers demand more information about the products they purchase.

She explained how digital transformation has revolutionized the way consumers interact with the retail sector. e convenience of online shopping and the integration of digital technologies into everyday shopping experiences have become pivotal factors in shaping consumer behaviour. However, between the economic challenges, a ordability remains a signi cant concern. As seafood prices rise, consumers are becoming increasingly price-sensitive, leading to a shift towards cheaper alternatives. e COVID-19 pandemic further exacerbated these challenges, causing uncertainties that a ected consumer con dence.

Italian consumers adjust consumption in response to rising prices

Finally, Patrizio Piozzi from the Italian Institute for Services for the agricultural ministry (ISMEA) shed light on the speci c situation of the sh and aquaculture sector in Italy. e country has seen a decline in domestic production leading to a heavy reliance on seafood imports to meet the demand of its population. Despite this dependence, sh consumption in Italy has remained relatively stable. However, the economic crisis and rising in ation have impacted domestic consumption. Piozzi noted that seafood prices have increased in recent years, in uencing purchase volumes and consumption dynamics. To address these challenges, the seafood industry in Italy, as in other EU countries, needs to consider diverse consumer pro les, considering factors such as family composition, age, and income levels. Supermarkets and superstores have emerged as dominant distribution channels for seafood in Italy, whereas traditional sh shops have experienced a decline in market share over time.

In conclusion, the EUMOFA talk provided useful information on how EU consumers are navigating the seafood market in the face of economic challenges. As the fishery and aquaculture sector confront external shocks and changing market dynamics, the event emphasized the significance of sustainability and eco-certification as important drivers for the industry’s future. While affordability remains a pressing concern, efforts from policymakers, retailers, and producers to meet consumer demands for healthier, more transparent, and sustainable options are crucial to shaping the future of seafood consumption in the EU.

Francesca Barazzetta, Euro sh, francesca@euro sh.dk