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.