Sales growth in value and volume in retailing

Thursday, June 13, 2024

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The value of fast-moving consumer goods (FMCG) sales saw double-digit growth in 2023, thanks to the contribution of both fixed barcode and on-scale products, according to Circana’s March Market View. Analyzing data from Circana’s recent survey, the total sales value of FMCGs increased by 10% (to 7.9% in 2022), with the consumer goods category accounting for 22.2% of its total sales value category, leaving the remaining 77.8% to standardized products. In terms of year-to-date (YTD) FMCG sales value data, there was a 2.8% increase to March 2024, with the weighted goods category recording the largest increase of the two categories at +4.8 (normalised to 2.2%). Compared to Year-To-Date (YTD) sales value figures for FMCGs, up to March 2023, it appears that last year there was a greater increase in total value at 8.6% (at 10.4% the products by weight and 8.1% standardized products). The share held for the period in question by the weighted products category was 22.5% (77.5% share for standardized products). According to year-to-date data, FMCG sales and volumes have increased in organized retail stores in Greece. Fast-moving consumer goods sales are up 1.7% year to date (+2.5% in 2023, +0.5% in 2022).

At +10.2% the sales value of food in 2023

Looking at the food subcategory, in 2023 there was an increase of 10.2% (to 8.7% in 2022), while all three subcategories of FMCGs (food, hygiene products, household products) showed an improvement in their sales in 2023. Notably, that the total FMCG food held the largest share with 81.6% compared to the other two sub-categories. FMCG food grew by 3.3% up to March 2024 on a YTD basis, compared to 8% in the corresponding period last year. The entire FMCG food sub-category held a share of 82.4% by March 2024.

27.5% growth in FMCG food private label products 

YTD data showed that the sales value of FMCG products by store type had a continued positive trend from 2023 in both small and large supermarkets. The largest increase was observed in the category of smaller stores (0-400 sq.m.) with 5.3%, followed by large supermarkets (2,500 sq.m.) with 3.9%. As for private label food products, there was an increase of 27.5% YTD 2024, higher compared to the corresponding period of 2023 (26.5%). In addition, the total of private label products of FMCG products YTD 2024 showed an upward trend, with a percentage of the order of 27.1%.

Foteini Apostolou

Source: FOODReporter 02 May 2024 #1175, page 6.