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Note: This report summary is one or two months behind the current month as standard reporting practice. The content is indicative only and incomplete with certain data undisclosed. Become a member to access this data or take out a free 30 day membership trial now.
Food & Grocery Sales
Food & Grocery sales fell 00% YoY in February, against strong 00% lockdown-induced growth a year earlier. Against pre-pandemic levels, Food sales rose by 00%.
As the UK learns to ‘live with Covid’, people are now socialising and commuting more frequently which means less food and drink being consumed at home.
Food inflation rose to its highest level since 2011 in February with prices jumping across key staples; Pasta (+9.4%), Poultry (+6.8%), Eggs (+8.1%), Coffee (+10.3%).
Amid inflationary pressures, there are signs of consumers resorting to more savvy shopping behaviours, with discounters gaining market share.
Average weekly online food sales was £00 million in February, compared to £00 million per week twelve months earlier.
Online food sales experienced a fifth month of decline, with sales down 00% in February compared with the previous year when sales more than doubled.
While some shoppers are shrugging off their pandemic habits and returning to stores, the proportion of online sales remains elevated, at 00% of total Food sales in February, compared to 00% pre-pandemic.
Retail Economics forecasts Food & Grocery sales to moderate over 2022, dipping by 00% YoY, with total annual sales projected to register £00bn.
Consumer spending will rebalance in favour of restaurants and hospitality, reflecting less working-from-home and strong pent-up demand for socialising.
The sector also faces tough annual comparisons, especially in Q1 against a lockdown period last year when grocery sales were robust.
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