The coronavirus pandemic has disrupted the U.S. meat supply chain as major meat producers idled or shut plants, causing spikes in prices and retailers like Costco and Kroger to limit the number of items consumers can buy. But, that in turn may provide a big growth opportunity for plant-based meat companies like Beyond Meat and Impossible Foods.
Beyond Meat will introduce “heavier discounting against animal protein” and will have “aggressive pricing” this summer as wholesale beef price surged to $4.10 a pound, Beyond Meat president and CEO Ethan Brown said on an earnings conference call late Tuesday. Brown added that Beyond Meat is introducing lower-priced bulk value packs to grocers as they struggle with supply shortages of animal protein.
“Our biggest focus is to provide solutions for consumers as they have meat disruptions,” Brown said on the call. “There is an opportunity for consumers to be aware of a different model. There are more opportunities to be relevant to customers.”
The company reported first-quarter sales more than doubled to $97.1 million.
https://www.forbes.com/sites/andriacheng/2020/05/05/with-crimped-animal-meat-supply-coronavirus-may-open-big-consumer-appetite-for-plant-based-meat-from-beyond-meat-impossible-foods/#6605df6a2920
Things like this will only continue to happen. Which is why I’m long BYND and not worried about week to week.