10th Consecutive Month; Grocery Prices in Ireland Continue to Decline..
Dublin: In Ireland, the rate of grocery price increases has steadily declined for the past ten months, as reported by Kantar, a market watcher group. Amidst escalating living costs, this downward trend in essential items comes as a relief to consumers, signalling a gradual return to pre-COVID price levels.
According to Kantar’s latest findings, grocery prices have decreased by 4.7% compared to the same period last year, marking the lowest level since April 2022. This assessment is based on a comprehensive survey covering over 30,000 products across Irish supermarkets. Emer Healy, Kantar’s director of business development, anticipates this downward trajectory to persist throughout the year.
Notably, branded products have maintained their dominance in the consumer market, with sales experiencing a 4.7% increase over the 12-week period. These branded goods now command a significant 46% share of the market, resulting in an additional annual expenditure of €112 million.
To counter the post-Christmas market slump, retailers have ramped up promotional offers, which accounted for 27% of total expenditure—an increase of 4% compared to the previous year.
Valentine’s Day festivities saw a surge in chocolate box gifting, with 58% of Irish households opting for this sweet gesture, totaling €1.7 million in expenditure.
The demand for ‘cold’ food items, including chilled-ready meals and sweets, remained robust, with €4.3 million and €1.8 million spent, respectively. Concurrently, online grocery sales witnessed a notable 17.3% increase, with 18.4% of Irish households now opting for digital shopping solutions.
In the highly competitive grocery landscape, Dunne’s Stores retained its position as the leading grocer, commanding 24.3% of the market share. Tesco followed closely with 23.5%, while SuperValu secured the third position with 20.6%. Lidl and Aldi claimed 12.8% and 10.9%, respectively, further highlighting the dynamic market dynamics and consumer preferences in Ireland.
Irish Samachar English News
{OR} Kindly click to follow the Irish Samachar News channel on WhatsApp
Comments are closed.