The latest data from research firm IRI (Information Resources Inc.) and BCG (Boston Consulting Group) shows frozen and refrigerated food sales leveling off after a sharp sales spike in March due to COVID-19 stockpiling by consumers.
Metrics for the week ending March 29 show frozen food sales are still up +31.3% compared to last year, but that number dropped significantly from +78.8% in mid-March. Dairy sales also saw a decline, dropping to +20.9% from +57.8%. Dry/refrigerated yeast, and refrigerated canned ham are the only two perishable item to place in the top ten of all edible/non-edible products in terms of sales growth, at +282.3% and +130.0%, respectively, compared to last year.