Dollar growth remained positive across all SPINS defined channels in the 52-, 24-, and 12-week periods ending May 21, 2023. However, unit growth was negative for all channels. This suggests that consumers are spending more on each grocery trip, but they are buying less overall.
Dollar growth continued to slow in all channels except natural, which saw a slight increase in growth. Natural foods and beverages have been a bright spot in the grocery industry in recent years, as consumers increasingly seek out healthier options.
Total grocery foot traffic remains off from a year ago, with visits down 3.6% for the 52 weeks ending May 28, 2023. This suggests that consumers are still shopping for groceries more often online or at convenience stores.
Overall, the grocery industry is still performing well, but there are some signs that growth is starting to slow.
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