Grocery Retail Showing Signs Of Stability, IRI COVID-19 Tracker Finds
The grocery industry is showing signs of stability, with sales averaging out at around 10% above normal, according to the latest edition of the IRI COVID-19 Impact Consumer Spending Tracker, produced in association with BCG.
According to the latest edition of the tracker, which measures sales up to 24 May, consumer spending patterns have remained largely unchanged in recent weeks, with more countries around the world loosening COVID-19 restrictions.
IRI said that in most geographies, sales remain elevated for food and beverage categories, particularly Frozen Foods and Dairy, while Alcohol has also remained high in several markets.
Non-food sales spikes differ by market; in the US, for example, Paper Products sales remain high, while in the Netherlands and New Zealand, Cosmetics sales remain strong. COVID-19-related health items, such as face masks, are driving OTC sales, most notably in Italy, France and Greece.
E-Commerce continues to show strong growth, having remained at an elevated level following a surge in the initial stages of the pandemic.
E-Commerce is particularly strong in the US, Italy, France and Spain, IRI said.
As restrictions loosen, many shoppers have relaxed trip frequency, returning to a 'little and often' approach to shopping in the US, while in New Zealand, softer sales growth is expected as reopening measures widen.
Read the full report here.
The COVID-19 Impact Consumer Spending Tracker measures consumer spending patterns in France, Germany, Greece, Italy, Netherlands, New Zealand, Spain, the UK and the US.
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