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Retail

Portuguese Households Spend More, Buy Less As Inflation Bites

In the first six months of 2022, Portuguese households spent €220 million more in supermarkets compared to the same period a year earlier.

Data from NielsenIQ indicates that consumption in hypermarkets and supermarkets in Portugal grew by 4.5% in value, to €5.06 billion, although the Portuguese Association of Distribution Companies (APED) claims this is due to the effect of rising inflation.

"Unfortunately, the Portuguese are buying less. They go more often in search of promotions, but they bring fewer purchases home", APED's director-general Gonçalo Lobo Xavier told daily Diario de Noticias.

Grocery products accounted for 41%, or €2.07 billion spent by consumers, which is €124 million more than in the same period last year.

Read More: Portugal To Extend Subsidy To Help Poorest With Food Inflation

Private-Label Sales

Private-label sales have grown 11.1% compared to the same period last year, while manufacturer brands grew by just 0.7%.

This growth trend for private label is visible across all product segments: +11.6% in the food category, +7% for drinks, +7.9% for home care and +13.7% for personal care products.

Private-label brands currently account for 39.3% of total supermarket invoicing, a figure that goes up to 45.7% for food products and is 2% more than a year earlier.

The highest percentage of private-label sales was seen in the frozen food category, which accounted for 54.5% of purchases (up 2% year-on-year).

In the grocery category, private-label brands accounted for 46.5% of sales (up 2.4% year-on-year), while the drinks segment saw the lowest share: 12.6% for alcoholic drinks and 31.6% for non-alcoholic drinks.

© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.

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