- FMCG expenditure crossed the 31 billion euros mark, with a slight value decline of -0.1% from April to June 2023
- Sharply curbed decline in sales of T&D products compared to previous months, standing at -0.7% in value with nearly 15 billion euros in revenue
Milan, Italy-September 5, 2024. In Italy, consumer spending on fast moving consumer goods (FMCG) and tech & durables products (T&D) in the second quarter of 2024 remained virtually unchanged from the same period last year (-0.3%). It is worth noting that some categories, such as pet, personal, children’s and home care products, continue to show positive signs, while the T&D sector continues to suffer, although there has been an improvement over the last four quarters.
NIQ Retail Spend Barometer combines data from NIQ and GfK to measure the turnover of FMCG and T&D goods purchased in stores in Italy.
The Barometer provides a comprehensive overview of spending in the FMCG (food, perishables, home and personal care) and T&D (consumer technology, household appliances and DIY) sectors in Italy. The study, based on real sales data, is unique and analyzes big data across both categories and channels. The NIQ Retail Spend Barometer will be published on a quarterly basis to provide a concrete perspective on households’ spending priorities.
Slowdown in consumer goods growth
Between April and June 2024, the FMCG sector saw a slight decline in sales (-0.1% vs Q2 2023), which still exceeded 31 billion euros.
According to the NIQ Retail Spend Barometer, Personal Care products, worth 1.8 billion euros, achieved solid growth, up +6.8% compared to the same period last year, as did Home Care, 1.5 billion euros, which again saw +3.9% growth compared to April-June 2023. Petcare (around 600 millions) also performed well, with growth of +3.3% compared to the second quarter of 2023.
The sectors of Shelf-stable food and Dairy decreased -2.5% and -2.6% in value (again Q2 2024 vs Q2 2023), with a turnover of 5 billion and 3 billion euros respectively.
Romolo De Camillis, Retailer Director at NIQ Italy, commented “In the second quarter of the year, the gradual return of inflation to normal levels had an impact on sales. In particular, FMCG slowed down, mainly due to prices, and closed the quarter with a slightly negative trend compared to 2023 (-0.1%). Contrary to the FMCG average, home & personal care recorded positive trends”.
Tech & Durables (T&D) market data for Q2 2024
In Italy, the Tech & Durables (T&D) market slowed down its decline in the second quarter of 2024 and reached a turnover of almost 14.8 billion euros, with a decrease of -0.7% compared to the second quarter of 2023.
In particular, the Technical Consumer Goods (TCG) sector – which includes consumer electronics, telecom, IT & office equipment, photography and other technology goods – has a turnover of 2.7 billions, in the second quarter, down -4.5% compared to Q2 2023.
Ivano Garavaglia, CS Retail Lead & RV Sales Deputy at NIQ Italy commented: “T&D sales also remained slightly below last year’s levels in the quarter (-0.7%), interrupting the period of significant decline seen in previous quarters. Good signs of growth in DIY / Home Improvement (+0.9% vs. Q2 2023 for a value of 6.7 billion this quarter) and Home Appliances (+0.7% vs. Q2 2023 for a value of 1.6 billion). Also worth mentioning is the Tech Consumer Goods sector which, although still negative, has shown an improvement over the last four quarters. From a qualitative point of view, even in the data of the last few months, we observe a continuous reassessment of spending by Italians, who are quickly changing their purchasing choices according to their needs and price trends”.
“The market is evolving. Consumer behavior is evolving. Consumers are not just buying FMCG or T&D, they are buying across categories, departments, aisles and channels. The total synergy between NIQ and GfK provides decision makers with an analysis of FMCG and T&D purchases from a global level down to the capillary level, providing a total view of buyer behavior. It really is a ‘Total Package’” comments Enzo Frasio, Managing Director of NIQ & GfK in Italy.
For more information, please visit https://nielseniq.com/global/it/landing-page/retail-spend-barometer-italy/ https://nielseniq.com/global/it/landing-page/retail-spend-barometer-italy/
Notes
The NIQ Retail Spend Barometer examines consumer spending on FMCG and T&D products in Germany. It tracks real sales figures and measures changes in past purchase trends. The FMCG categories covered include food, groceries, perishables and near-food, and the T&D categories include technical consumer goods, household appliances and DIY. The data comes from NielsenIQ and GfK retail market measurement, which together measure the sales of over 350,000 retail partners worldwide.
Media Relations – Doppia Elica
Milena Ronzoni m.ronzoni@doppiaelica.com +39 02 40 999 3817
Alessandra Colao a.colao@doppiaelica.com +39 02 40 999 3223
Giulia Leoni g.leoni@doppiaelica.com +39 02 40 999 2256
About NIQ
NIQ is the world’s leading consumer intelligence company, delivering the most complete understanding of consumer buying behavior and revealing new pathways to growth. In 2023, NIQ combined with GfK, bringing together the two industry leaders with unparalleled global reach. With a holistic retail read and the most comprehensive consumer insights—delivered with advanced analytics through state-of-the-art platforms—NIQ delivers the Full View™. NIQ, is an Advent International portfolio company with operations in 100+ markets, covering more than 90 percent of the world’s population. For more information, visit NIQ.com.
About GfK – An NIQ Company
GfK has earned the trust of our clients around the world by solving critical questions in their decision-making process. In 2023, GfK combined with NIQ, bringing together the two industry leaders with unparalleled global reach. Together, we fuel client’s growth by providing a complete understanding of their consumers’ buying behavior, and the dynamics impacting their markets, brands and media trends. With a holistic retail read and the most comprehensive consumer insights – delivered with advanced analytics through state-of-the-art platforms – NIQ and GfK deliver the Full View™. For more information, visit GfK.com
