New data from research firm IRI (Information Resources Inc.) and BCG (Boston Consulting Group) shows frozen and refrigerated food sales spiking 78.8% and 57.8%, respectively, compared to a year ago, and attributed to COVID-19-related stockpiling by consumers beginning on March 1. The numbers are through the week ending March 15.
Drilling down into category data, the item with the highest growth among all packaged goods (which includes F&B and non-F&B items, like paper products) is frozen cookie dough, with a 570.4% increase in sales compared to this time last year.
Further category data compared to last year shows an increase in sales for these frozen foods:
- Frozen Pizza (+117.2%)
- Ice Cream (+33.5%)
- Frozen Novelties (+31.6%)
And an increase in sales compared to last year for these refrigerated products:
- Uncooked Meats, Excluding Poultry (+82%)
- Sliced Lunchmeat (+78.1%)
- Shredded Cheese (+77.0%)
- Fresh Eggs (+70.7)
- Whole Milk (+47.2%)
- Skim Milk (+46.7%)
- Yogurt (+41.7%)
You can view the full IRI report here, which includes consumer spending metrics for the U.S., U.K., France, Italy, and New Zealand.
Click here for more COVID-19 coverage and how it is affecting the refrigerated and frozen foods industry.