Grocery inflation has increased to hit a record-breaking high of 13.4%, the latest Kantar figures published today (Monday, November 14) have confirmed.
In the 12 weeks to October 30, grocery sales increased by 4.7% due to a 4.3% jump in shoppers returning to store and an 8.7% increase in price per pack.
The report stated that this contributed an additional €115 million to overall market performance.
Online sales also saw a return to growth, increasing by 13.1%, due to new shoppers and more “online shopping trips” by young families.
Commenting on the data, Emer Healy, senior retail analyst at Kantar said:
“With inflation standing at 13.4% for October, the average annual grocery bill will go from €7,019 to €7,960 – an increase of €941 a year – if consumers don’t make changes to what they buy and where they shop.
“At a basket level, that’s an extra €3.80 on top of the cost of the average shopping trip, which currently stands at €28.20.
“Irish households are looking to manage budgets through a ‘little and often’ approach to shopping,” Healy added.
“On average, families are adding one extra trip per month, we’re seeing a 9% increase in these smaller trips where less than €30 is spent. In comparison, the extra-large shopping trips where households spend more than €150 have declined by 4%.”
The report noted that sales of own label jumped 9.4% over the timeframe with shoppers spending an additional €115 million year-on-year. Own label now accounts for 46% of the overall grocery market in Ireland.
Analysts found that fewer people decided to stock up early for Christmas in October with sales of chocolate and biscuits down on 2021 levels.
“The exception to this is mince pies, as consumers have already spent an additional €220,000 on these festive treats compared to this time last year,” Healy said.
According to Kantar, Dunnes has the biggest share of the Irish grocery market with 23.1%, followed by Tesco, SuperValu, Lidl and Aldi.