Fresh statistics from retail analysts Kantar Worldpanel convey that the rise in grocery prices in the Republic has continued to stabilise at less than 3 per cent annually, over the 12 weeks leading to the last month’s end. Compared to the nearly 17 per cent observed during the cost-of-living peak, the existing 2.7 per cent rate is markedly lower. It signifies a drop of 8.5 percentage points from the same timeframe of the preceding year, though there has been a slight incline from the 2.5 per cent registered over the summer.
There was a surge in sales volume of 3.6 per cent as families prepared for the school term in September, accompanied by a 1.5 per cent increase in staple grocery shopping trips frequency, the data indicates. With households transitioning into the autumn and back-to-school patterns, additional spending of €2.6 million on fresh vegetables and €1.9 million on fresh fruit was noted. Consumers also spend an extra €1.4 million on bread and nearly €1 million on frozen items, along with an increase of €1.5 million on soft drinks.
The commencement of Halloween preparations was also marked with a substantial rise of €3 million in sweets spending. Eimear Faughnan, Kantar’s Worldpanel Head of Retail, reiterated that as consumers resumed their school-term routines, branded sales experienced a growth of 8 per cent compared to the previous year. This outpaced the sales of own-label products during this time, enhancing the value share of overall spending to 48.2 per cent.
Faughnan further noted that the value sales of own-label items also saw an increase of 3.9 per cent this month in comparison to last year, despite the consistent growth of branded products.
Online purchases have seen a year-on-year uplift of 9.6 per cent, with consumers spending an additional €17 million within this timeframe on internet sites. Retailers are fuelling this surge by providing enticing incentives online, such as discounts and complimentary shipping in certain circumstances, persuading customers to shop more regularly.
In the retail rivalry, Dunnes commands a market share of 24 per cent, marking a growth of 9.5 per cent compared to the previous year, slightly ahead of Tesco’s 23.4 per cent stake. The latter’s share value has risen by 10 per cent year-on-year. The two were neck and neck at 22.6 per cent according to the August report.
The current market share for Supervalu sits at 19.6 per cent, exhibiting a minor dip from last month but still showcasing a growth of 1.7 per cent. In the discount sector war, Lidl is maintaining their lead with 13.7 per cent market share and 8 per cent year-on-year expansion, outpacing Aldi’s 11.7 per cent piece of the market and their comparative annual growth of 0.6 per cent.