Did you purchase hot dogs for your 4th of July celebration?
In our Market Track Shopper Insight Survey conducted in January of this year, consumers ranked hot dogs as the #3 top trip driver—or, the third category they are most likely to buy if on sale—for summer holidays (Memorial Day, July 4th, and Labor Day).
Lucky enough for consumers, hot dogs see a huge spike in promotions in the lead up to holidays like July 4th. We have observed this spike each of the past two years, and though we are still processing some promotional data from this past Sunday, we anticipate this year to be no different.
Interestingly, despite the increase in total promotions for hot dogs, the average promoted price is actually higher leading up to the summer holidays than other periods throughout the year. This may go against conventional thinking that promoted prices for hot dogs are lower during these high-traffic periods. Getting into the details, our analysis showed that higher promotional pricing can be attributed to a wider variety of hot dog brands being advertised for the summer holidays. This includes higher-end brands that sell at higher price points. If higher quality brands are promoting more in the summer – naturally the average price will be higher. See the two charts below for more promotional insights on hot dogs.
Source: Market Track Promotional Data