In the first ten months of 2022, Portuguese consumers spent €9.8 billion in supermarkets and hypermarkets, or almost €800 million more than in the same period last year, new data from NielsenIQ has found.
According to the Scantrends data, published by Dinheiro Vivo, spending on household purchases has not stopped growing since the beginning of March, rising by 10.4% and reaching 14.2% in October.
However, this positive trend is not due to increased purchasing power but rather to the fact that products have become more expensive.
Category By Category Growth
The highest percentage growth is seen in non-alcoholic beverages (+14%), while spending on general grocery items and dairy products was up by 11% in both categories.
Grocery items, which last year accounted for 39.1% of the average supermarket bill, are now weighing 39.8%, which means that households are now spending €3.9 billion on groceries, up from €3.5 billion in the same period last year.
Dairy products have increased from 16.8% to 17.2%, with Portuguese consumers now spending €1.7 billion, or €171.5 million more than last year.
Private Label Continues To Rise
Private label purchases increased 2.4% in the ten-month period, the data showed.
In the food segment, the percentage sales of private label products in the Portuguese grocery segment is now even higher at 46.3%.
The director general of the Portuguese branded products association (Centromarca), Pedro Pimentel, anticipates a "very difficult" start to 2023, with the loss of purchasing power for Portuguese consumers getting worse.