Inflationary pressures continue to affect the supermarkets’ turnover as consumers opt for cheaper purchases and increasingly turn to private label products.
According to the data of the research company Circana (formerly IRI) in the 11-month period of January-November 2023, sales reached 8.188 billion euros, compared to 7.477 billion euros in the corresponding period last year, recording an increase of 9.5%, of which 6.239 billion euros concern the food category. In the same period, the volume of sales increased by 2.2% compared to the same period last year.
According to Circana data, private label products continued their upward trend. In particular, the share of private label products in value in January-November, including the sales of Lidl Hellas, stood at 26.3% from 25.8% in the corresponding period of 2022, up 11.6%, when at the same time, the growth rate for branded products was 8.8%. In the category of food, the share of private label products was slightly higher, at 26.8% from 26.4% in the corresponding period of 2022. In the personal hygiene and beauty category, the share of private label products is 20.9%, while in the category of household items it reached 25.6%.
With regard to the 11 main product categories, in the 11-month period, an increase in sales volume was recorded in nine categories, namely packaged foods (0.4%), snacks (4.7%), dairy products (2.9%), non-alcoholic beverages (4.7%), alcoholic beverages (4.8%), personal care and beauty products (1.7%), personal hygiene products (1.8%), detergents & household cleaners (0.2%) and other household items (0.7%). On the contrary, a decrease in sales volume was noted in frozen foods (0.2%) and cooking materials (2%).
Detergents and cleaners “led” the price hike race in the 11th month period with price increases reaching 11.6%, followed by cooking materials (9.4%), snacks (8.5%) and frozen foods (8.3%). The smallest price increases were recorded in alcoholic beverages (3.3%).
