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 store sales decelerated at the end of February as we start to approach the one-year anniversary of the stockpiling that occurred in March.
The peak of grocery store sales last year was the week ended March 15, 2020.
Total CPG demand in grocery stores increased 4% YOY for the week ended February 28, decelerating from +11% in the prior week. The edible category decelerated to 6% growth from 13% in the prior week.
Frozen category demand increased 12%, decelerating 10% from the prior week. The meat category decelerated to 8% growth from 14% in the prior week.
Beverage alcohol sales decelerated to 12% growth from 15% in the prior week. Produce sales decelerated to 7% growth from 10% in the prior week.
Last week Kroger guided ID sales to decline 3-5% this year and the two-year stack to be up 9-11%.