DATA INSIGHTS: CHANNEL TRENDS & FOOT-TRAFFIC REVIEW FEBRUARY 2024

April 1, 2024 |

In the evolving landscape of CPG, recent data presents a nuanced picture of market dynamics. Dollar growth is decelerating across all channels, notably dipping into the negative in regional and independent grocery sectors. However, there’s a silver lining with unit growth’s gradual recovery, despite remaining in the negative. Amidst this, average retail prices (ARPs) have held steady in most channels, with the exception of the Natural Expanded channel, which continues to see a rise.

A closer examination reveals a fascinating trend: eleven categories experienced a spike in dollar sales post-New Year, with ten maintaining above-average growth. Particularly, supplements, vitamins, and diet additives dominated these categories, suggesting a consumer preference for supplementing diets over altering them fundamentally. This performance improvement in the early parts of the year compared to 2023 hints at growing consumer engagement in health-focused purchasing.

While it’s tempting to attribute this sales uplift to New Year’s resolutions geared towards healthier living, the evidence, though compelling, stops short of a definitive correlation. Instead, it underscores a broader consumer trend towards integrating health supplements into daily routines, signaling a shift in how health and wellness are approached in the marketplace. This insight not only informs our understanding of current consumer behaviors but also opens avenues for brands to align with these emerging preferences.

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