- Impossible Foods is cutting its suggested retail price for grocery stores by 20%.
- The company is trying to achieve price parity with beef products, which still cost less than half of what Impossible charges for its meat substitutes.
- The number of retailers carrying Impossible’s products has increased by 113 times over the last year, fueled by changes in consumer behavior stemming from the coronavirus pandemic.
Impossible Foods is slashing its suggested prices for U.S. grocery stores by 20%, pushing it closer to achieving price parity with the meat it’s trying to replace.
The recommended retail prices for Impossible’s meat-free burgers is now $5.49 for patties and $6.99 for a 12-ounce package. The price cuts make the meat alternatives cheaper than ever, but consumers will still be paying more than double for the Impossible Burger, based on the U.S. Department of Agriculture’s national beef retail report for the week ending Thursday.
Outside of the United States, double-digit price cuts for I