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15/04/2024 3 min

Driven by Easter sales, grocery stands out as the main sector of the month

However, Basic Grocery (a basket of essential items like sugar, rice, beans, and others) faced a slight downturn in March, with a -2.8% decrease in revenue and -2.1% in units sold.

São Paulo, April 2024 – Food retail sales recorded remarkable growth in March 2024. Compared to March 2023, unit sales advanced by +3.4%, combined with a price increase of +5.5%, resulting in a significant overall revenue increase of +9% for the month. The Grocery basket (comprising condensed milk, olive oil, cream, biscuits, among others) was the main protagonist of this growth, registering an impressive increase of +19.1% in revenue compared to the same period of the previous year, driven by Easter sales.

“This performance made Grocery the basket that contributed the most to the growth of the food retail channel in March 2024. Meanwhile, the Beverages sector also showed significant growth, with a revenue variation of +14.5%.

On the other hand, Basic Grocery (a basket of essential items like sugar, rice, beans, and others) faced a slight downturn in March, with a -2.8% decrease in revenue and -2.1% in units sold.

The east region (MG, ES, RJ) recorded the lowest growth in the month, falling below the national average. Among channels, supermarkets with 10+ checkout lanes stood out with the best performance of the month, growing above others in both revenue and units sold. Meanwhile, the north region had the highest revenue growth in the country, while the east region (MG, ES, RJ), Northeast, and Midwest fell below the national average.

Easter basket revenue grows 2% driven by price increase.

The food retail sector recorded significant growth in Easter basket revenue, driven by the observed price increase in the four weeks leading up to and during Easter week. According to data analyzed by Scanntech, a leader in data intelligence for food retail, basket revenue grew by 1.9%, while sales volume registered a decrease of -2.7%. This increase in revenue can be attributed to a 4.8% growth in product prices, highlighting the influence of price increase on the basket’s financial performance.

The importance of the Easter basket is noteworthy, representing 11.8% of food retail revenue during Easter week, maintaining a similar share as observed in 2023.

Within the Easter basket, the price of Easter eggs, driven by the high price of cocoa, increased by 9.6%, driving a positive revenue variation of 4.7%, surpassing that of chocolate, which recorded a 1% increase in sales. However, it is worth noting that chocolate remains more significant in terms of revenue, representing 4.8% of the Easter basket, while eggs account for 2.4% during Easter week.

Other highlights of the Easter basket include a 21% increase in cod sales (in volume) and a 19% decrease in olive oil sales in the four weeks leading up to Easter compared to 2023.

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