NIQ Retail Spend Barometer
Italy

In 2023, Italian households spent €187 billion on consumer goods

  • In 2023, a total turnover of €187 billion for FMCG and Tech & Durables products
  • +7.9% in value for FMCG and limited decline in volumes (-1.7%). Reached €134 billion in spending
  • Ups and downs for technology products: -1.1% in value with €53 billion in revenues
  • Household appliances are positive with 3.2% growth

In Italy, consumer spending on Fast-Moving Consumer Goods (FMCG) and Tech & Durables (T&D) increased by 5.2% compared to 2022, recording a total turnover of €187 billion. The increase was driven in particular by the increase in the price of food and personal care products, while Italians remained more cautious in spending on some T&D products. NIQ’s new Retail Spend Barometer combines data from NIQ and GfK to measure the turnover of FMCG, technology and durable goods purchased in stores in Italy.

Rising prices drive significant growth in the FMCG sector
In 2023, there was unprecedented revenue growth in the FMCG sector that exceeded €134 billion. This remarkable year-on-year increase of 7.9% was mainly fuelled by double-digit price increases.
Despite inflation eroding consumers’ purchasing power, consumer staples maintained a stable level of volume sales, with a modest decrease of -1.7% (in the packaged goods perimeter). According to NIQ’s Retail Spend Barometer, the categories that showed the best sales performance were the food sector, with an increase of 8.9% and a turnover of 82 billion euros in 2023, and fresh products, with an increase of 8.2%. Home and personal care products also saw solid growth, with an increase of 7.0%.

“During 2023 we have not only recorded record levels for FMCG turnover, but also important changes in the purchasing behavior of Italians. Galloping inflation has forced many families to continuously review the products they purchase, reducing waste and cutting back on products that are too expensive and no longer considered necessary. On the other hand, the analysis of the shopping cart confirms a greater propensity of families to purchase products related to well-being and health”.

Romolo De Camillis, Retailer Director NIQ Italia

A year of contrasts for the Tech & Durables (T&D) market

The Tech & Durables (T&D) market in Italy in 2023 went through a year of ups and downs and a slight decrease compared to 2022, recording a turnover of 53 billion euros in the year just ended.

“The strong growth in inflation and the continuous increase in central bank interest rates have characterized the whole of 2023, generating uncertainty in the consumer and a greater focus on containing expenses. The negative outcome of these factors, together with the reduction of incentives and tax deductions for the purchase of certain products, generated an immediate effect on many categories of durable goods that the consumer was willing to give up or postpone the purchase in the future.”

Ivano Garavaglia, Head of Retail at GfK