The French store flour and oil in mass
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Frightened by the continuous rise in prices and the risk of shortages, consumers are flocking to these two basic products, whose sales have soared by 57 and 55% last week.
We observed them during the Covid crisis in 2020, they are back today: precautionary purchases of basic products in supermarkets are resuming. Frightened by the continuous rise in prices and the risk of shortages, the French rushed last week (April 4-11) on basic products. According to LSA1, flour sales jumped 57.4% compared to the same period of 2021 while oil sales soared 55%. In other words: consumers are stockpiling in droves.
“Since the start of the conflict in Ukraine (end of February), oil volumes have increased by +33% compared to 2021 and +4% higher than in 2020 (storage period and the start of the 1st confinement during which French people had spent time cooking and baking): enough to abuse the supply chains”, said LSA.
A transcript of tensions over purchases
What create stock shortages and encourage distributors to restrict the number of products purchased per customer. According to NielsenIQ, oils, flour and pasta have seen “their numbers of rupture incidents in mass distribution”, excluding discounters Lidl or Aldi, “increase more or less significantly”, respectively by 37% for oils, 26% for flour and 21% for pasta between the end of February and the end of March.
“The current context is creating uncertainty within French households”, which have successively suffered “unprecedented period of coronavirus, unprecedented global recovery, tensions over raw materials, inflation and conflict in the heart of Europe”, summarizes NielsenIQ. “We thus read a transcript of these tensions on in-store purchases”.
1. The consumer magazine in France