Spain: Packaged products' sales growth to compensate for the slowdown in fresh produce
Sales of packaged products will grow by 1% in 2020 and will compensate for the slowdown in fresh produce, according to data presented by Neilsen.
As shown in the study “Perspectives in FCMG 2020”, the forecasts of the consultant firm indicate that the perishable products will be the main driver of growth, with an increase in volume sales of 2.4%, whereas the category of packaged food and cosmetics and toiletries will border on 1%.
Cleaning products will maintain the same sales as in 2019, while the beverage category will growth by 0.4%.
“Consumers still want to buy fresh products, but their price has increased and that has meant that packaged foods are capturing a good part of the purchase, especially in terms of chilled, preserved and frozen products”, says the Nielsen’s spokesperson for Spain and Portugal.
The growing importance of packaged products is precisely one of the reasons why the value of the Spanish consumer’s shopping basket is increasing. “Buyers are willing to try new and more valuable products; in fact, the quarters of the increase in packaged food is explained by the generation of value and not by the price”.
Nielsen has described the year 2019 as “notable” for FCMG and has predicted an equally positive 2020, despite the slowdown in the economy and the fall in consumer confidence.
Source: financialfood.es