Seafood Expo Global Series - The good, the bad, and the opportunity

Day two (and three technically, but we're a little behind) at Seafood Expo Global wrapped, and as evening descended on Barcelona our brain cells were furiously rubbing together to absorb the day's takeaways. Namely, the insights from the Marine Stewardship Council and Globe Scan study on seafood consumer perception and priorities.

The points conveyed in the presentation were…well they were really not shocking. Just a good ol’ heaping dose of, “oh dear, it really is like that, isn’t it?”

Let's break it down.

Folks are shopping with a shrewd eye, and quality, health benefits, and price are the key factors driving their seafood purchasing decisions. It’s no surprise in today's economic climate, with inflation and cost-of-living concerns pricing us out of existence, that affordability is a top priority.

People want to enjoy quality seafood, but they’re weighing their checks and balances with fine precision.

So do you want the good news or bad news first?

Ok, bad news.

Overall seafood consumption has taken a hit since 2022 and a clear line can be drawn to a whopping 91% of consumers who are worried about the health of our world’s oceans (fair). Add in the fact that nearly 50% of people doubt their favorite seafood will even be available in 20 years, and you've got a recipe for spiraling pessimism about the future of our oceans and the seafood industry dependent on it.

Sorry to slap you with the cold, bleak fish right out the gate, but there is good news!

Yes, we promised a little serotonin to cleanse the palate, and it happens to be our favorite takeaway!! Both as a presentation note and as a snack that we may or may not have stashed in our handbags at any given time.

Consumption of tinned fish and omega-3 supplements are up, and continue to climb.

A happy coincidence to be gifted this little slice of joy here in Spain, the homeland of conservas culture!

So, who’s driving this trend? While the report didn’t get into the specific demographics, we can confidently assume that based on the vitality of ‘tinned fish tok’, young people are behind the wheel.

That's right, millennials and gen Z, with their penchant for all things Instagram-worthy and socially conscious. Yes we're the TikTok target, and innovative tinned fish brands, like SCOUT Canning and Fishwife, are reaping the rewards of hanging out in their audience’s stomping grounds.

But there are greater forces at work here than just posting a few photos or videos online and calling it a day. This notable growth proves the power of social media in shaping consumer trends and fostering a sense of community around shared experiences online.

While this may seem a small victory against those scary numbers on the rap sheet, it tells a tale. It says that we as an industry need to do a better job of listening to consumers and understanding what they care about to reach them most effectively.

You know that feel good vibe you get it when someone just ‘gets’ you? Well social media can allow seafood brands to communicate in a way that resonates with their audience, hear their concerns and address them with language and a delivery that makes people feel included. It shows that they value connection, trust, and are prepared to show up, which feels good. And it might sound crazy simple, but people like to feel good! Especially when you take into account that wars, climate change and pollution are top of mind for more than 60% of consumers these days.

The narrative driving public perception hasn’t been in our favor for a while now, so rebuilding trust should be our top priority. It's the currency that can drive consumer confidence in the seafood industry, or drive buyers in the other direction. Let’s not miss out on the opportunity to right this ship and sail ourselves into calmer waters.

Did these insights make your eyes roll into the back of your head and down the street? Or are you basking in the benefits of the good news report?

Let us know your thoughts (or your favorite tinned fish pairing, we like to hear about that too) and continue the conversation.