Grocery spending across Europe grew by the lowest level on record, according to a new report by Nielsen.
The retail performance data shows that prices paid for FMCGs rose by a mere 0.7% in the second quarter of 2016, while the volumes were at the lowest for over two years, rising by only 0.1%.
Retailers in the grocery sector rose by only 0.8%, the lowest since 2008.
In Europe, Turkey recorded the highest growth, of 8.9%, Norway followed, with 3.5%, just before Sweden, with 3.2%. Greece saw the biggest decline, of 7.2%, with Finland coming in at a loss of 4.6%.
The UK reported its most negative performance for nearly two years, at -1.6%, while Spain had the highest of the five big Western markets, at +2.1%.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Aoife Lawless. To subscribe to ESM: The European Supermarket Magazine, click here.
