Consumer goods: in 2023 Italians spent 187 billion

Italian consumers spent 187 billion euros in 2023 on the purchase of fast-moving consumer goods (FMCG) and technological and durable goods (T&D). He notices it NielsenIq, according to which growth compared to the previous twelve months was in the order of 5.2%. This performance, which hides a sharp increase in prices and a drop in volumes, was favored above all by the excellent performance of long consumption, which reached the record figure of 134 billion euros (+7.9%), the result of a double-digit increase in prices and a reduction in volumes of 1.7%. The categories that showed the best sales performance were food industrywith an increase of 8.9% and a turnover of 82 billion euros, and the fresco, with an increase of 8.2%. Also home and personal care products recorded solid growth, with an increase of 7%.

By analyzing the quarterly data contained in the Consumption barometer Of NielsenIqemerges as the effect ofinflation, with an average value of 11.3% in 2023, was more pronounced in the first six months of the year. This helped push sales, which grew 9.2% in the first quarter and 9.8% in April, May and June, respectively. Inflation subsequently stabilized, with more moderate sales growth of 7.8% in the third quarter. In the months of October, November and December, the effect of inflation attenuated further, reaching the lowest point of value growth of 5.1%.

“During 2023 we not only recorded record levels for consumer goods turnover but also important changes in the purchasing behavior of Italians – Romolo De Camillis, retailer director of NielsenIq Italy – Galloping inflation has forced many families to continuously review the products purchased, reducing waste and cutting products that are too expensive and no longer considered necessary. On the other hand, the shopping cart analysis confirms a greater propensity of families to purchase products related to well-being and health”.

If mass consumption went very well, the same cannot be said for i technological and durable goods, which closed 2023 with a slight decline in turnover to 53 billion euros. The sector ofhome improvement, which includes home improvement and furnishing products, began 2023 with solid growth (5.3%), however slowed starting in the second quarter (1.6%). Despite this, it closed the year with a decline of 0.2% compared to 2022. The sector did even worse technical consumer goods (Tcg)which includes consumer electronics, telephony, IT, office products, photography and other technological goods, which suffered a 5.4% decline compared to the previous year.

However, some subcategories, such as home appliances, have grown even in such a difficult context and, despite the challenges, the sector recorded positive growth in 2023 and closed the year at 6 billion euros, (3.2%). The demand for household appliances has increased as it is driven by new technologies and a greater interest in sustainability also linked to energy saving.

“The strong growth in inflation and the continuous increase in central bank interest rates characterized the whole of 2023, generating consumer uncertainty and greater attention to containing expenses – the words of Ivano Garavaglia, head of retail at GfK – The negative outcome of these factors, together with the reduction of incentives and tax deductions for the purchase of certain products, generated an immediate effect on many categories of durable goods which the consumer was willing to give up or postpone the purchase of purchase in the future.”