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Spending on consumer goods up 14% in 2023

March 18, 2024

Household spending on fast-moving consumer goods (FMCG) increased by almost 14% in 2023 compared to the previous year, and volumes purchased by households returned to an upward trend (+2.3%), amid moderating inflation in this sector, Consumer Panel Services GfK Romania data show. To compare, the value advance of the FMCG market was 10.4% in 2022 against the previous year. Inflation was presented in over 95% of the FMCG categories relevant for the household consumption (with penetration over 2% among the households in Romania), mentions a press release of the consultancy company.At the other end, there is still uptrading or premiumisation in certain categories such as pralines, energy&diet bars, tomato juice, feta cheese or bubble bath – according to the Inflation Tracker 2023 syndicated study by Consumer Panel Services GfK. According to the quoted source, last year there was a significant growth of promotions in the shopping basket of the Romanians. Thus, the products for promotion got to have a value share of over 20% in the total of FMCG acquistions excluding Fresh Food made by households."In 2023, households in Romania had a more calculated buying behaviour: they made more frequent purchases, but in most of the monitored categories their shopping baskets were smaller (in terms of number of products or volume). Promotional activities seem to be back in the spotlight: both the share of promotions in the total value of FMCG purchases for household consumption and the importance of promo-hunting buying missions have considerably increased: while in 2022 their share in the total number of purchase acts registered at national level was 4.3%, last year the share reached 5.3%. This trend is visible in all sales channels, especially in hypermarkets, supermarkets and online shops. In e-grocery, promo-hunting purchase missions already account for over 16% of the total number of purchases monitored", said Diana Scaunasu, managing director Consumer Panel Services GfK Romania, quoted in the press release. GfK Consumer Panel Services data also shows that private labels have moderated their advance over the past year, reporting a growth rate of 16%, similar to that of the Branded segment (which brings together manufacturer brands), so that the share of Private Labels in total FMCG purchases for household consumption remained at 25% in 2023. They managed to advance at a faster pace than brands only in hypermarkets. At the other end of the spectrum, PL's performance was weak in supermarkets, where they saw stagnant sales, while brands advanced by 14% in 2023 versus 2022. The press release also reports that, at the channel level, discounters continued to lead the value growth with an advance of over 19%, while hypermarkets and supermarkets grew at a rate of around 10% last year compared to 2022. Moreover, discounters have become the first choice of Romanians for FMCG purchases for household consumption, ahead of hypermarkets as well as traditional trade.   In terms of retail format penetration, this is where online and modern convenience stores stood out last year, with the highest growth rates compared to 2022.   The GfK Consumer Panel is a continuous survey that monitors the purchasing behaviour of Romanian households based on a nationally representative sample of 6,000 shoppers. The data is collected by scanning barcodes of products brought home, regardless of the purchase channel.  

The text of this article has been partially taken from the publication:
http://actmedia.eu/daily/spending-on-consumer-goods-up-14-in-2023/107278
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