Tyson’s Announcement Stuns Grocery Industry

The Lempert Report
May 22, 2020

Tyson Foods, one of the largest meat-processing companies in the world, and one of the first who had to close facilities due to Covid 19, announced that the company will be cutting prices on select beef products amid the ongoing coronavirus pandemic.

Tyson Foods said the discounts are designed to help “keep beef on family tables.” Tyson will be cutting prices on chuck and round roasts, ground beef products, and meat trays, some of which will be discounted by up to 20 or 30 percent.

“The ongoing pandemic has disrupted the food system. It’s created challenges for our operations, many of our customers, and consumers,” reads a statement shared by Tyson Foods. “These are unprecedented times, and although they have been difficult, Tyson believes that the future is bright.”

In Tyson’s statement, the company claimed this decision would benefit not only the consumer, but those working in the supply chain and cattle industry, both of which faced hurdles in recent months.

According to Nielsen, ground beef was selling at over 10 percent higher prices than they were a year ago.

Tyson’s positioning is interesting – and sends a powerful message to consumers and the industry that allays many fears; especially as we move into BBQ season.

John Tyson has become through his newspaper ads outlining the company’s response to COVID-19 and being up front about the supply chain, is quickly becoming the voice of an industry that typically hid behind industry groups, Kudos to Tyson.