Dublin: Studies show that price increases are intensifying in the Irish market. According to a study conducted by marketing research firm Kantar, the price increase in the 12 weeks ending January 23 was 16.3%.
Kantar estimates that Irish households will face up to €1,159 more in annual costs as a result of the price increase and warns of cost-cutting measures.
Kantar’s report suggests that the Irish grocery sector is also more competitive than ever.
2023 also revealed that the majority of consumers prioritise their health. With meat prices rising by up to 4%, people are spending more money on vitamins and minerals.
Online sales are also thriving. Kantar also stated that new traders are emphasising online sales.
Dunnes leads the market with a 23.7% share. They are also not falling behind in terms of growth rate.
Tesco is the market’s runner-up, with a 23.1% market share and 9.8% growth. Tesco had the highest frequency growth of any retailer, increasing 10% year over year.
With 0.9% growth, Super Value held 20.9% of the market. Lidl had a 12.2% market share and grew at a 9.9% annual rate. Aldi, on the other hand, had an 11.6% market share and a 6.8% growth rate.
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