Dollar growth remained positive across all SPINS defined channels in the 52-, 24-, and 12-week periods ending on June 18, 2023. However, unit growth was negative for all channels in all three periods. This indicates that consumers are spending more on groceries, but they are buying fewer items.
Dollar growth continued to slow in all channels except natural. The rate of dollar growth in natural continued to gain momentum, but it was still below Total US – MULO and Total US – Food. This suggests that consumers are increasingly shifting their spending to natural foods.
Average retail prices stabilized in the natural channel, but they continued to rise slowly in the other channels. This is likely due to rising input costs, such as labor and transportation.
Total Groceries foot traffic improved slightly from year ago, with visits up 1.3% for the 52 weeks ending July 2, 2023. This suggests that consumers are still shopping for groceries in stores, despite the rise of online grocery shopping.
Overall, the grocery industry is facing some headwinds, but there are also some positive signs. Dollar growth remains positive, and consumers are still visiting grocery stores. However, unit growth is negative, and average retail prices are rising.