5th April 2023 Circana / IRI
Cash-strapped consumers sought affordable indulgence from confectionery, which posted double-digit value and unit growth.
Consumers shopping for cyclone emergency supplies pushed batteries, water, and shelf-stable fruit into the fastest-growing value categories.
Eggs took the fastest top 20 category growth spot, driven by price rises of 27%.
Consumers raced to supermarket aisles last week to stock up on emergency essentials – and some non essentials – ahead of Cyclone Gabrielle, according to data from IRI.
Dairy, confectionery and pet were some of the winners in the insight firm’s NZ grocery rankings, while the cycling of 2021’s lockdowns saw beverages suffer.
The closing weeks of 2022 saw some eyewatering numbers coming from food, with the amount spent on groceries in December up 10.2% on a year earlier and a huge 17.1% up on 2020.
Its departure from the $64m chilled juice and drinks category will put annual sales worth millions of dollars up for grabs in the growing grocery beverage department.
The latest four-week period in IRI’s November Grocery Monthly Overview gives yet another angle on the effects of rampant inflation on food prices.
The insights firm names the products and brands benefitting the most from consumer behaviour in the current high-inflation environment.
The insights firm says new product development has been severely constrained as manufacturers prioritise activity and keeping core products flowing.
There’s an F&B leader at the top of IRI’s latest rankings of FMCG manufacturers.
Discounter disruption, competition and convenience pressures are altering sales channels for grocery, the market research company tells NZFGC’s conference.
In an era of rampant food price increases, Stats NZ’s monthly Food Price Inflation index often contains a sweeping reference to a hike in grocery prices, while naming a few products behind the latest movement.
The latest figures are a reminder of where we were this time last year – still battling Covid outbreaks and in the early days of a sustained period of food price inflation.
Kiwis spent $16.9bn in supermarkets in the past year but inflation and unit trends means fewer groceries in the basket
Private label sales surge as Kiwi shoppers hunt for value, so what are the top F&B categories to see growth?
A list of the top food and beverage categories in which private label sales have gained the most momentum over the past year – and those where sales have contracted – reveal some surprising results.
Grocery spend continues to grow, driven by a 30-year inflation high, with the latest IRI data illustrating the ‘spend-more-get-less’ theme and a move to private label.
It’s the second month in a row of negative unit sales even with inflation pushing more dollars through tills.
NZ could see a wave of F&B acquisitions as rising costs pile pressure on smaller manufacturers.
Almost all F&B manufacturers plan to put up prices to combat rising costs, according to a survey by IRI and the NZFGC.
The amount of money passing through grocery tills was up again in May, although fewer goods were sold and private label sales gained market share as consumers took action on inflation, according to IRI.
The latest four-week period sees accelerated dollar growth this year as inflation continues unabated.
But rising costs are forcing consumers to re-think how they spend, says IRI.
IRI’s Grocery Market Overview attributes price rises as the major driver behind February’s 5.8% increase in sales value.
F&B businesses should be over-investing in an omnichannel strategy to stay competitive in an increasingly digital environment, says the research consultancy.
There’s an F&B leader at the top of IRI’s latest list of FMCG manufacturers.
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