Supermarket sales up 9.1%, volumes down 3.5% in Jan-April

Supermarket sales grew 9.1% in the first four months of 2023 but volumes fell by 3.5% in the same period, a report by NielsenIQ said on Tuesday. The report said that foods/beverages (8.9%) and packaged foods (9.3%) led the sales growth in the January-April period. NielsenIQ said that 68% of consumers are cutting back on extra spending and luxuries, focusing only on basic items, while one in three said they choose cheaper products. Private label products continued to rise, reaching a historic high market share of 25%. However, despite the fact that private label product prices have more than doubled compared with brand product prices, they managed to maintain sales volumes without suffering any losses, the report added.