|
Editor's Note: Below is a brief excerpt from a complimentary research note written by our Consumables analysts Howard Penney and Daniel Biolsi. We are pleased to announce our new Sector Pro Product Consumables Pro. Click HERE to learn more. |
Grocery retail sales accelerated to 9.0% growth YOY in October, from 7.1% in September.
Food and beverage store sales accelerated to 8.3% in October from 6.5% in September. Foodservice and drinking places sales decelerated to 29.3% from 29.8% in September.
The share of spending for food at home fell 40bps to 53.4% in October. The share for food away from home has steadily increased each month from February’s 40.7% to October’s 46.6%.
Yesterday Walmart said it gained share in U.S. grocery in Q3 with price and assortment compelling. Walmart’s grocery sales were up nearly 10% with MSD% inflation, accelerating from 6% sequentially.
Management said they were happy with the current price gap to the competition. It is a reminder that food retail is the most competitive sector of retail.
