By Lynn Petrak
Source: Progressive Grocer
While consumers may not be sticking as close to home as they were over the past few years, they are clinging to their real and digital wallets. That’s a conclusion from new research released by Circana, formerly IRI and The NPD Group.
The latest Circana data shows that discretionary general merchandise sales at U.S. retailers dropped 7% from April 2022 to April 2023. Unit sales also slid 8% during that time frame. The April figures track with Circana’s findings from March, lending credence to the notion that consumers are adjusting behaviors as many prices remain elevated and markets are rattled by bank closures and general economic concerns. The researchers also found that non-edible CPG unit sales declined 5% while food and beverage unit sales decreased 2% last month.
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