The latest figures from Kantar indicate that shoppers are adjusting their buying behaviour to juggle grocery inflation. One ploy is turning to cheaper alternatives, and also making four fewer trips to the supermarket on average per month, than they were the same time last year.
The statistics show that grocery inflation has hit 5.5%, marking the first time it has risen above 5% since August 2013. Branded items previously made up more than 50% of grocery sales in 2020 and 2021.
Managing Director for Kantar Worldpanel Ireland, David Berry, said that: “We’re now seeing clear signs that people are turning to retailers’ own-label items instead, which are usually less expensive. As a result, brands’ share of grocery spend has dropped to 49% in the latest 12-week period, which is equivalent to a €29m fall.”
The research confirms that the rising cost of living is a key concern for at least 81% of Irish consumers, while a “staggering” 62% expect that they will have to cut back on the amount of food they buy in response to current prices. The worrying thing is though that, “we’ll be seeing the effects of inflation for months to come.”
Kantar illustrates that take home grocery figures for Ireland fell by 6.5% in the 12 weeks to 15 May 2022. Despite the challenging times, warm weather has seen people up their shopping, resulting in sales of BBQ meats such as burgers and sausages, as well as prepared salads increase by 2% and 8% respectively in the latest 12-week period. Soft drinks have also seen a 5% boost in this period, equating to an extra €5m through supermarket tills.