Data Insights: Channel Trends & Foot-traffic Review October 2023

November 16, 2023 |

In the dynamic landscape of the Natural Products Industry, data-driven insights are crucial for businesses to adapt and thrive. Recent observations reveal intriguing patterns within the market. Dollar growth, after a period of acceleration, is now exhibiting signs of deceleration, particularly within SPINS defined Regional & Independent Grocery spaces, where negative territory looms.

Unit declines, albeit softening across channels, present a notable exception within the SPINS defined Regional & Independent Grocery sector, where prices stabilize. Despite overall growth deceleration, weekly unit growth shows promise, though it lags slightly behind the previous year. The industry anticipates a convergence of average retail pricing with year-ago levels in the coming months, signaling a significant slowdown in price increases.

A concerning development is the slip in total groceries foot traffic, experiencing a -2.37% decline in the latest 12 weeks. Industry players must remain vigilant, leveraging these data insights to navigate the evolving market landscape effectively. 

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