Food & Drink sector performance – August 2022...
06 September 2022IGD’s CEO, Susan Barratt, contributes to the BRC’s Retail Sales Monitor, providing insight on UK food and drink sales.
IGD’s CEO, Susan Barratt, contributes to the BRC’s Retail Sales Monitor, providing insight on UK food and drink sales.
Food and drink sales volumes spent the entire month of August in negative territory, with value sales propped up by the ongoing inflationary pressures that are being steadily fed through the supply chain. IGD’s latest Shopper Confidence Index data shows another record-breaking low, down six points from July. Confidence has been steadily declining over recent months, but now we can really see that people are worried about their personal finances.
August has been dominated by increasing inflation, with talks of this going even higher, along with energy price increases. People are reacting - taking action now to try and get ahead. Our data shows that shoppers are investing more time in how they can save money by planning more and searching for value with private label options and seeking out discounts.
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Our round-up of the latest economic and political news, focused on FMCGs