Containing increases and more private label products are the recipes of the big European brands. In Italy, many products with value sales growing more than inflation.
Large European retailers are working hard to limit the passing on of price increases to consumers. This is what Reuters points out, noting that for many brands this effort is becoming an opportunity to win new customers and retain existing ones: according to the agency, in the third quarter "same-store" purchases increased between 4.4% and 7.4%. As a result, compared to 2021 several European chains have increased revenues by more than inflation, with peaks of up to 42%. To counteract the decline in purchasing power, moreover, some signs plan to increase the assortment of private-label products from the current 33% to 40% on average.
In Italy, the value sales trend as measured by IRI for TUTTOFOOD is also slightly better than the price dynamics. From January to September, total packaged food posted +5% (vs. +4.6% for the average price), surpassing 40 billion (40,226 million), while for the month the increase was 10.6% (5,317 million) compared to +9.6% for the average price.
Great classics beat inflation
Many product categories for which the value increase in September definitely beats expensive prices. Confirming that even in the post-pandemic, "comfort food" knows no crisis, Fresh Desserts record a resounding +31.7% average price +4.06%) at 48 million while Meats sell for 119 million with a 15.2% increase compared to an 11.2% increase in average price. Substantially in line with price dynamics is Pasta, another evergreen of the reopenings, whose value sales increase 23.6% to 136 million, and Fresh Condiments, which rise 28.7% with sales of 39 million. The data for the month therefore tell us of a male and female consumer who primarily want to cook quickly and easily, but who do not shy away from gratification.
From the beginning of the year to September, the commodities that sold the most were Baked Goods and Cereals (2,515 million, +3.1%), Cheese (2,400 million, +5.4%) and Dairy Products (1,157 million, +5.4%) , which, also helped by the growing supply of free-from products, continue to be a staple on Italian tables by adapting to food trends. In contrast, speaking of Beverages, August moderates the rally that has seen it play a leading role since the beginning of the year, thanks to the now complete reopening of the out-of-home sector. Alcoholic Beverages, Non-alcoholic Beverages, Beer and Wine in the Beverage Wholesalers Channel (Integrated and Consortia) grow "only" 13% (but the average price is at +4.2%) reaching 488 million, but from the beginning it is boom with +47.4% to 2,869 million.
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