Analysis of Fresh Fruit and Vegetable Sales at Retail

“Fresh produce sales are rocking and rolling. The summer is always a time when fruit shines, but this year is one of the best in recent history. Avocados, mandarins, melons and grapes are adding a lot of new dollars to fruit sales. Lettuce and onions are doing the same on the vegetable side.“

June 2024

What's New

A Home-Centric Marketplace

Declining confidence has consumers turning to retail once more
Most retail categories continue to outperform their pre-pandemic normal as life remains more home centric. Consumer sentiment, a good indicator of willingness and ability to spend, declined for the third consecutive month. The University of Michigan expectations index fell to 68.2 in June 2024 driven by consumers’ more cautious outlook on the economy, with concerns about the labor market along with the lingering and cumulative impact of inflation.

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Food-away-from-home (restaurant) prices increased 4.1% year-over-year in June versus 1.1% for food-at-home, according to the Bureau of Labor Statistics. According to the June Circana survey among primary grocery shoppers, 79% of consumers consumed restaurant food in June. However, broken out by income, only 63% of low-income versus 85% of upper-income households did so.
Lower-income households are also more likely to implement money-saving measures when shopping for groceries, at 84% versus 76% of upper-income households. Lower-income households especially over index for buying less and sticking to the budget, switching to store brands and shopping at value retailers.
All income levels and ages are focused on sales promotions and coupons. Many brands and retailers alike are turning to discounting, increased app investments, and new or improved loyalty programs to retain consumers and increase buying frequency. According to Circana analytics, promotional lifts continue to soft despite the depth and frequency increasing. This underscores the importance of targeted promotions to create utmost relevance and impulse conversion.