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The UK grocery market returned to real growth in 2024 with inflation as the main driver, according to a detailed forecast from IGD (Institute of Grocery Distribution). Alex Rowberry, senior analyst at IGD stated, "IGD believes businesses should prepare for a mid-growth scenario: UK economic growth remains low, and inflation remains the driver of grocery market performance, as real market growth remains contracted." #grocery #inflation #UK #costofliving https://lnkd.in/e-KkvGgA

A cost of living crisis, an almost-recession and a return to pre-Covid spending habits. They've all contributed to an anticipated slow in the FMCG market. But despite inflationary pressures the UK's FMCG seems to be bucking the trend and is continuing to grow.  That's reflected by an increase in e-commerce market share, which is expected to more than double before 2025 on pre-COVID levels. As buying habits for FMCG evolves and the market with it, it's an exciting industry to be involved in. #FMCG #scantec

Despite slowing inflation, consumers are still worried about prices. Deloitte survey finds Americans are concerned about the rising prices of everyday purchases. https://lnkd.in/eXG3rAGd? #financialnews #financeandeconomy #economicrecovery #economicnews

A cost of living crisis, an almost-recession and a return to pre-Covid spending habits. They've all contributed to an anticipated slow in the FMCG market. But despite inflationary pressures the UK's FMCG seems to be bucking the trend and is continuing to grow.  That's reflected by an increase in e-commerce market share, which is expected to more than double before 2025 on pre-COVID levels. As buying habits for FMCG evolves and the market with it, it's an exciting industry to be involved in. #FMCG #scantec

Inflation is on the decline, but retailers and CPGs are still working to cut prices to keep, or win back, shoppers who are cutting back. In his latest column exclusive to the CMA, consumer trends expert Phil Lempert takes a look at economic trends, and how suppliers and retailers pull through even some consumers are taking a hardline “no-buy” approach.   Read now! https://bit.ly/3VxysFo #CatMAn #Inflation #Consumerism #NoBuy

UK: The data continues to show weak consumer spending, particularly considering the growth in purchasing power - gross disposable income growth is robust at 7.6% YoY. Though retail sales volumes rebounded in January to grow 0.7% YoY, this recovery was largely due to a rise in food purchases (+0.6% YoY). Non-food in-store retail exhibits weak growth, with seemingly less appetite for non-essential item spending.

So, what's up in retail this week? A discussion of a soft landing in the US which would be good news. ✅ US labour market growing above forecast in June to 206,000 ✅ Inflation softening slightly month-on-month to 3.3% from 3.4% ✅ Makes an interest rate cut more of a possibility in September Latest data from the EU & Euro area a little more mixed across food & non food with volume up and inflation softening as well. ✅ Volume of retail trade up by 0.1% in both the euro area and the EU year-on-year ✅ Euro area annual inflation is expected to be 2.5% in June 2024, down from 2.6% in May according to a flash estimate from Eurostat, the statistical office of the European Union. ❌ However, non-food not growing - decreased for non-food products (except automotive fuel) by 0.2% So what's it mean at a macro level? 👇 Continued relative uncertainty affecting footfall, visitors, volume and pricing until this soft landing truly takes hold. 🤞 Let's hope we see these initial trends continuing and solidifying into Q4. https://lnkd.in/dTxWm8Kx https://lnkd.in/d47253Nv #retail #retailoutlook #US #EU

For the European grocery industry, 2023 was a challenging year. Inflation led consumers to tighten their belts, leading to a drop in volume and significant downtrading. As a result, industry growth was significantly below food price inflation. Food price inflation in Europe was 12.8 percent in 2023, while grocery sales grew at a rate of […] https://lnkd.in/dQEtaKmt www.Cyprus-CEO.com #CEO #business #management #marketing #tech #AI #legal #money

We share the latest insights on the role of promotions amidst the cost of living crisis in the Financial Times: despite an increase in this tactic, European consumers remain cautious with their spending.   🔍 Data shows a 15% rise in FMCGs promotions across Europe, yet sales volumes barely budged, hinting at a muted consumer demand recovery.   💡 Ananda Roy, SVP of Global Thought Leadership and Strategic Insights at Circana, comments on the diminishing returns of frequent discounting, cautioning against its overuse as it risks reducing brand value and profit margins.   As inflation rates stabilize yet remain above pre-pandemic levels, companies face the challenge of balancing price strategies with consumer expectations.   Read the full piece here: https://lnkd.in/d7QeRUyU #ConsumerBehaviour #Inflation #RetailStrategy #FMCG

Since 2020, we've witnessed a significant increase in the price of essentials such as housing, utilities, healthcare, and education, while salaries have largely stagnated. This discrepancy has only amplified the financial strain on households. The 15% rise in FMCG promotions indicates that companies are striving to attract cautious consumers, yet the static sales volumes suggest a deeper issue: consumers' overall purchasing power has been eroded. As Ananda Roy rightly points out, frequent discounting can undermine brand value and profitability, yet it is also a symptom of the broader economic challenges consumers face daily. As we navigate these turbulent times, it's crucial for businesses to recognize the multifaceted nature of the cost of living crisis. Beyond promotional strategies, there's a need for sustainable approaches that consider long-term consumer trust and financial well-being. Only by addressing the root causes of this economic imbalance can we hope to see a genuine recovery in consumer demand and overall economic stability.