Impossible Foods Cuts Suggested Grocery Store Prices 20%
REDWOOD CITY, Calif.–(BUSINESS WIRE)–Thanks to tremendous growth and economies of scale over the past year, Impossible Foods is cutting suggested retail prices by 20% for grocery stores throughout the United States.
“With economies of scale, we intend to keep lowering prices until we undercut those of ground beef from cows. Today’s price cut is merely our latest — not our last.”
The price cuts bring the company’s suggested retail prices for Impossible Burger to $5.49 for patties and $6.99 for a 12-oz. package. (On-shelf prices may vary depending on location and retailer.)
Impossible Foods is strongly encouraging the roughly 17,000 grocery stores, supermarkets and retailers that sell Impossible Burger to pass the savings to consumers as soon as possible. Impossible Burger is available at Albertsons, Kroger, Publix, Safeway, Sprouts, Target, Trader Joe’s, Walmart, Wegmans and many others, as well as online platforms including Amazon Fresh, Walmart.com, Kroger.com, Farmstead and Imperfect Foods. (To find the nearest place to buy Impossible products, click here.)
Impossible Burger was sold in about 150 grocery stores one year ago; it’s now available in approximately 17,000 grocery stores nationwide — a more than 100X increase in Impossible Foods’ retail footprint. Production has increased sixfold since 2019, both in Oakland and at multiple plants owned by co-manufacturing partners.
“Our plan is to reverse global warming and halt our planet’s extinction crisis by making the food system sustainable. To do that, we need to make meat better in every way that matters to consumers—taste, nutrition, convenience and affordability,” said Impossible CEO and Founder Dr. Patrick O. Brown. “With economies of scale, we intend to keep lowering prices until we undercut those of ground beef from cows. Today’s price cut is merely our latest — not our last.”
The third cut’s the deepest — so far, anyway
Impossible Foods is introducing similar price cuts internationally at retail stores in Canada, Singapore and Hong Kong. The double-digit international price cuts, which vary by location and apply to all Impossible retail products sold overseas, exceed 20% in some regions.
The latest price cut is the third double-digit reduction from Impossible Foods in less than a year. Last month, the company cut prices on average about 15% for foodservice distributors that sell to restaurants.
Impossible Burger sales are increasingly displacing animal-derived foods, whose production is one of the biggest generators of greenhouse gas emissions and the leading driver of the global meltdown in wildlife.
According to Chicago-based analytics company Numerator, the vast majority of Impossible Foods’ sales come at the expense of animal-derived meat: For every $1 spent on Impossible Burger at US grocery stores, 82 cents comes at the direct expense of animal-derived foods — up from 72 cents per $1 in September 2020. (Numerator analyzes consumer credit card purchases over the most recent 13-week period.)
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