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Food Retail Sales Continue To Accelerate - AdobeStock 341929978

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. 

Food Retail Sales Continue To Accelerate - staples insights 111621 2