Territory Stories

Year in review 2016-2017, Northern Territory Cattlemen's Association

Details:

Title

Year in review 2016-2017, Northern Territory Cattlemen's Association

Collection

Northern Territory Cattlemen's Association yearbook; Reports; PublicationNT

Date

2017

Description

Made available via the Publications (Legal Deposit) Act 2004 (NT).

Language

English

Subject

Livestock -- Northern Territory -- Periodicals; Beef cattle -- Northern Territory -- Periodicals; Ranches -- Northern Territory -- Periodicals

Publisher name

Northern Territory Cattlemen's Association

Place of publication

Darwin

Copyright owner

Check within Publication or with content Publisher.

Parent handle

https://hdl.handle.net/10070/304642

Citation address

https://hdl.handle.net/10070/363392

Page content

When we look at why people buy particular proteins in Australia we find that 50% of what makes them choose the protein they choose is a factor called easy-everyday: its cheap, its easy to use, they know how to cook it, its versatile and its healthy enough. This forms part of a larger meta-trend that weve seen within Australia over the last couple of years. Graph 1 shows price sensitivity youll see that it decreases up until about 2013 and then theres a massive increase in 2014 and 2015 in the number of consumers who make price sensitive decisions. Rather than choosing the thing that they like, they choose the thing that is cheapest. This explains a huge portion of chicken popularity in Australia because people are trying to buy something that fits into their budget, that they understand, and that they find easy. This trend is reflected across other industries as well anyone who watches the retail space will know that Woolworths are a relatively unhappy bunch of people because over the last 5 years the number of people who choose to shop at Woolies has not varied, while Coles, who were relatively cheap anyway and have decreased their prices, have gained 6%, and ALDI have gained 4%. What happens when people become increasingly price sensitive is that it opens up markets to increasing amounts of price sensitive buying and switching out. If youre Woolies thats a dangerous picture. The same applies for beef in relation to chicken, because what is the cheapest protein in Australia (perception-wise)? Chicken. And its getting cheaper. Over the last year peoples perception is that chicken has become 5% cheaper and beef has become 4% more expensive. In this environment, where 50% of why people choose is price and ease-related thats a serious challenge . This is part of the equation of why it is were seeing this pattern towards poultry and away from beef. But thats not the only reason. We can explain another 34% based on two factors, one is fairly easy: limitation, e.g. people who are trying to eat less of a certain thing. The other is goodness, which is quite multifaceted, e.g. it has lots of vitamins, minerals and nutrients; its good for me; its Australian made; its natural theyre all goodness factors. There are no surprises about what does well on goodness - beef - it scores exceptionally well. However, it struggles with limitation: everyone knows somebody whos trying to eat less red meat, even in this crowd, because theres an idea that its unhealthy or bad for you. Where it gets really interesting is when you look at how people decide what is good and what is healthy, this has shifted substantially. When we look at young people (millennials and below) most of their food knowledge comes from the internet, and most of that comes from social media. This means that people are taking in this massive flow of largely un-curated information from the internet that tells them what they should eat; whats good for them; whats bad for them; whats badly made; whats well made. unfortunately not all of the information theyre receiving is true. Most people are on Facebook now and many of you would have seen the Tasty videos that appear on Facebook: the 30 second clips that show how to make a recipe. Tasty is the 5th most watched video producer on the internet, which makes it one of the biggest video producers in the world, receiving 1.2 billion views last month. What the un-curated flow of information creates is a system where people are getting more and more knowledge and you start to see this explosion of what we would call fads or trends in food. It doesnt matter what were talking about here, be it wanting to know where it comes from; which farm; where it was processed; how it was processed; is it grassfed; traceability; functionality; sustainability; organic; freerange all of these things are essentially a reflection of people having an increased amount of information at their fingertips and an increased need for control. I could have shown you a whole bunch of examples if Id had time; you can look at free-range eggs at the moment: theres an app that allows you to check if your eggs are free-range; smart lunchboxes that allow you to control portion sizes; etc. Essentially this is all a reflection of control and we see it more and more. The internet allows for these very niche sub-groups to exist and be propagated because it gives them a social structure within which to operate and allows for a lot of information to be given. Graph 1: Price sensitivity shows a strong increase in Australia over the past several years, indicating increased likelihood of price related decision making. The digital consumer of the future 70 NTCA YEAR IN REVIEW 2016/17


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