Household Grocery Expenses Increased by €427 Annually

In light of recent price hikes, consumers in Ireland are now spending an additional €427 on groceries each year. A survey of over 30,000 products has shown that these goods were 14.7% more expensive in the 12 weeks leading up to July 9, compared to the same period last year. This figure is slightly lower than the 15.8% increase reported by Kantar, a research group, last month. Kantar’s business development director, Emer Healy, commented that they expect to see a gradual decline in prices in the coming months.

However, despite the price increases, take-home grocery sales in Ireland have risen by 9.6% in the four weeks leading up to July 9. This growth is primarily attributed to inflation rather than increased purchasing. Shoppers have been visiting stores more frequently in recent weeks, opting for smaller, more frequent trips to reduce costs and food waste. According to Ms. Healy, there has also been an increase in dining out during the summer months.

To cut costs, many Irish consumers are choosing own-label products. The supermarket’s cheapest product range, known as “value own brand,” has experienced a surge in sales, with consumers spending an additional €14.2m on these goods. Overall, own-brand products have seen a 13% growth in the four weeks leading up to July 9, while sales of branded goods have increased by 7.6%. Kantar revealed that last month was the first time both branded and own-brand products held an equal share of the market in Ireland.

In addition to the increased grocery spending, shoppers have been enjoying the long summer days, with additional purchases of chilled burgers, grills, ice cream, and alcoholic beverages. Alcohol sales have jumped by 11.2% compared to the previous year. Furthermore, online grocery sales have increased by 6%, with more frequent online trips leading to an €8.5m increase in sales.

In terms of market share, Dunnes Stores remains the leader in the Irish grocery market with a 22.7% share. Tesco closely follows with a 22.6% share, while SuperValu holds the third position with a 20.7% share. SuperValu customers make the most trips to its stores, averaging 23.5 trips over the 12-week period. Lidl has achieved a record 13.9% market share, whereas Aldi’s market share has risen to 12.5%.