NIQ Retail Spend Barometer
Poland
Poles’ shopping optimism translates into growing sales in Q3 2024, both FMCG and Tech & Durables industries noticed sales increases
- Polish consumers are more optimistic about their financial situation than the average Europeans
- We spent nearly PLN 99bln on FMCG and Tech & Durables products in the third quarter
- FMCG sales value growth in the third quarter of 2024 was +4.3% vs. the previous year, the Tech & Durables industry (electronics, DIY, home appliances) noticed a sales value growth of 1.6% in the third quarter vs. the previous year
The third quarter is often a time for reviewing household budgets, further burdened by holiday-related expenses and assessing the state of those finances after returning from vacation. This year in the third quarter – based on the results of the Consumer Confidence Index – the mood of Polish consumers remained moderately optimistic. Concern about rising grocery prices fell from the number 1 position to second place in the ranking of Polish consumer worries, being overtaken by the rising cost of living associated with bills – probably caused by rising electricity prices. The improvement in consumer sentiment was certainly influenced by inflation – which, as reported by the Central Statistical Office, was between 3 and 4.5% in the third quarter, more than twice as low as a year ago.
Polish consumer spent close to PLN 99 billion in Poland on FMCG products and Tech & Durables – IT, consumer electronics, household appliances and DIY. Out of this amount, food, chemical and tobacco products accounted for more than PLN 75 billion, and Tech & Durables for nearly PLN 24 billion.
FMCG
Among the categories that noticed the highest growth in sales value in the third quarter were fresh food products (with an increase of more than 10% vs. Q3 2023) and personal care products, which have been growing in terms of sales value by double digits over the past 12 months. Among FMCG categories, paper categories (which include toilet paper, kitchen towels, etc.) are noticed decline of value sales – mainly due to falling prices.
T&D
In the Tech & Durables sector, the most dynamic growth was observed, as in previous quarters, by household application products (with a 6.9% year-on-year increase in value sales in Q3). Among the categories driving this growth were so-called Soda Makers, fryers and dryers. The positive sales trend is also continued by DIY products which have been recording year-on-year sales growth since Q2 2024. Negative sales dynamics in the third quarter, on the other hand, were recorded by electronic and IT products (-2.3% year-on-year). It’s also worth noting that by far the better sales dynamics are in the case of Tech & Durables products, the online channel, which for electronic and household products increased in value by more than 16% in Q3.
“The third quarter of 2024 was characterized by a slight increase in sales volume for FMCG products, continuing the positive trend we have seen since the beginning of this year. Consumers, despite their very careful planning of purchases and spending, are becoming more optimistic about their financial situation. This translates into an increase in spending – both in FMCG by +4.3% and in Tech&Durables by +1.6%, in the third quarter of 2024 compared to a year earlier.”
Konrad Wacławik, Retail Services Director, NielsenIQ Poland