2023 saw global FMCG value growth hit its second highest rate in 12 years, at 8.6%. Inflation was the main catalyst, of course – but the picture is nuanced across regions, categories and channels.
‘Shopping around’ has become a way for consumers everywhere to cope with rising grocery prices, with increased frequency (+2.4%) as well as trip spend (+4.3%) a common theme.
Within this landscape, the contribution made by discounters and ecommerce to total FMCG sales continues to rise, with ecommerce value growth doubling in one year to 12.8%. Meanwhile, discounters’ share of spend has reached 10.5% – a gain that is down to more than just offering low prices.
Private label is growing faster than brands in all channels, but brands still contribute the most to global FMCG growth. There are also signs in evidence that private label’s market share may have peaked.
As the impact of inflation eases, resulting in a slowdown in value growth, driving volume and penetration are the key priorities for sustaining spend. The insights in our webinar will give you clarity on how to shape a winning channel strategy and value proposition for the year ahead.
Access Worldpanel by Kantar’s Global FMCG Omnichannel webinar, to get a unique read on retail dynamics across 49 markets and reach to our experts for further insights.