Supermarket turnover rose in January, boosted by higher inflation, while consumers cut back the volume of purchases, IRI said in a report on Tuesday.
More specifically, turnover grew by 6.9% in January compared with the same month last year, reflecting price increases of up to 10%. Sales totaled 652 million euros from 610 million in January 2022.
The value of sales rose 7% while volume fell by 2.5% in January. IRI said private label products raised their market share to 17.7% in January, from 16.4% in December 2022. IRI said the value of sales grew 5.7% in packaged food, 12.3% in personal care products and 11.9% in detergents.
However, the volume of sales in packaged food fell 2.9%, it grew 1.2% in personal care products and fell 2.3% in detergents.
Large supermarkets recorded an 11% increase in turnover, raising their market share to 15.1%, followed by very small stores with a 10.5% increase in turnover and a market share of 13.9%.
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