NIQ Retail Spend Barometer
Netherlands
Q1 consumer spending in the Netherlands is 1.1 percent above last year’s Q1
- Prices in the tech and durables sector (T&D) are stabilizing, with a high willingness to spend for highly featured premium products.
- Consumers are saving on food and drugstore products, but to a lesser extent than last year.
The new NIQ Retail Spend Barometer shows that in the Netherlands consumer spending on everyday products (such as perishable and non-perishable food, beverages and drugstore products) as well as technical consumer goods, household appliances, DIY and clothing was 1.1 percent higher in the first quarter of 2024 than in the same period last year, for a total of EUR 20.4 billion. Growth was primarily driven by near-food, DIY and home improvement products, while technical consumer goods and large appliances experienced a decline and in the food retail sector, the upcoming legislation on tobacco products has already had a noticeable effect. Combined data from NIQ and GfK also shows how the retail spend has changed in Q1.
“We are still observing changed consumer behaviors. For example, they are increasingly buying private labels and special offers in order to keep their shopping bills as low as possible. However, due to flattening inflation, we can also observe less extreme sales changes across categories than last year.”
Jasper Bins, Retail Vertical Director Benelux, NIQ and GfK
