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Frozen food sales rose significantly the final week of April, according to new research by the American Frozen Food Institute (AFFI), 210 Analytics, and IRI. The +50.3% increase was the highest since the height of mid-March stockpiling by consumers, when frozen food sales peaked at +94.4% compared to 2019 sales for the same time period. The +50.3% increase translates to $1.3 billion compared to $442 million in 2019.
The adage, "shoot for the moon and you'll still land among the stars" comes to mind when assessing frozen food sales since early March. The rocket launch of consumer stockpiling created astronomical sales figures that were impossible to sustain, but now that buying has leveled off, the year-over-year numbers look like they'll be hovering around +30% over 2019 sales for weeks to come, if not the rest of 2020, according to new data from the American Frozen Food Institute (AFFI) and 210 Analytics. That means the meteoric sales arc created by panic buying in March has a long way to go before it comes down to normal levels.
The latest data from research firm IRI (Information Resources Inc.) and BCG (Boston Consulting Group) for the week ending April 5, shows frozen and refrigerated food sales increasing slightly compared to the week ending March 29. Frozen food purchases rose to +34.7%, compared to the previous week's 31.3%. Dairy showed a higher jump at +29.9% compared to the previous week's +20.9%. The numbers remain significantly elevated compared to last year's sales, due to a spike in purchasing related to COVID-19 stockpiling in early March.
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.
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.
Americans are at risk of serious illnesses, as 72% of consumers surveyed do not understand the recommended levels of salt, fat and sugar consumption, according to new research revealed by Spoon Guru, UK.
Between 2016-2017, total expenditures on food increased nearly $526 for the 130,001 consumers tracked by the Bureau of Labor Statistics, according to analysis from the Food Institute, Upper Saddle River, N.J.
Dramatic changes have taken place in spending allocation within the consumer packaged goods (CPG) markets, but the retailer and shopper impact is lagging, according to the 2017 Marketing Spending Industry Study, “Blinded by the Light,” released by Cadent Consulting Group, Wilton, Conn.