BusinessBeyond Meat reaches Kroger, Walmart and supermarkets in more than 5,000 stores...

    Beyond Meat reaches Kroger, Walmart and supermarkets in more than 5,000 stores nationwide with meat substitutes

    The meat substitute food company Beyond Meat announced the launch of a new national product in more than 5,000 stores like Kroger and Walmart, Albertsons, Ahold Delhaize, Jewel-Osco, Sprouts and more.

    The new release, called Beyond Steak uses bean protein as a base and contains 21 grams of protein per serving. Also, its saturated fat content is lower than beef steak and it contains no cholesterol.

    The 10-ounce package, which will be sold in grocery stores, comes packaged in small pieces and It will cost $7.99 dollars.

    Beyond Steak’s task will not be easy: boosting Beyond’s sales, as well as attracting new customers, as well as existing ones, to try the new food.

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    The company reported in the second quarter that sales of its groceries in the country increased only 2.2%, while restaurant revenue fell 2.4%.

    so far this year, The value of the company’s shares has fallen by up to 80%, which has reduced its market value to $821 million dollars. At its all-time high in July 2019, the company was valued at $13.4 billion.

    Beyond Meat has also experienced other difficulties that translate into its plans to cut 19% of its workforce, which is equivalent to 200 employees, and the firing of its COO Doug Ramsey after an altercation in a stadium parking lot. soccer game where he bit off a man’s nose.

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    The company also fights against permanence over time, especially given the change in consumption trends for meat substitute foods, which have been on the decline. Data from market research firm Resources Inc., or IRI, showed alternative chilled meat sales at retailers fell 10.5% by volume in the year ending Sept. 4.

    Another survey, from the consulting services network Deloitte, says the target market would be more limited than before. An example could be what happened last summer at Cracker Barrel, which after introducing its plant-based Impossible Sausage, received hundreds of negative reviews on social media.

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    It may interest you:
    – Beyond Meat seeks to enter the alternative dairy market, a business that represents hundreds of thousands of dollars
    – Beyond Meat will provide artificial meat for new McDonald’s hamburger
    -Beyond Meat director arrested for allegedly biting off a man’s nose

    Source: La Opinion

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