Supply chain crisis continues! Spain's demand for fast-moving consumer goods rises

According to data from market research company Kantar , Spain's purchases of fast-moving consumer goods surged 13% compared with the same period last year. The report believes that this increase is mainly due to the supply chain crisis caused by the Russian-Ukrainian conflict, rising energy prices, the outbreak of Spanish workers' strikes, and the continued fluctuations in inflation .

Data shows that in just half a month from March 6 to March 20, Spanish household spending increased by an average of 5% year-on-year. With the unprecedented rise in the prices of fast-moving consumer goods , consumer demand for basic consumer goods has increased instead of decreased .

A recent Worldpanel survey showed that Spaniards are very worried about the current political and economic situation , with 44% saying that workers' strikes could affect their daily purchases , and more than 90% saying that the Russian-Ukrainian conflict would have a very negative impact on their future family situation . As a result, consumers are stockpiling food and some basic necessities to prevent supply shortages .

In addition, due to price increases and material supply issues, Spanish consumers are also paying more attention to online shopping promotions. Relevant data shows that the number of online shopping visits by Spanish consumers is increasing sharply, and the number of searches for daily household consumer goods is also rising.

According to Worldpanel data tracking, most of Spain's consumption growth was brought about by foods that are easy to store , such as cooking oil , pasta, rice and milk. At the same time, sales prices in these categories are also rising rapidly, with an average increase of more than two times compared with the same period in 2021. Spending in this category accounted for 48.4% of total consumer spending in Spain, compared with 44% recorded in the same week of 2021. Personal care is also a fast-moving consumer product that consumers are extremely concerned about.

It is worth noting that the Russia-Ukraine conflict has had the greatest impact on Spanish consumers under the age of 35, whose spending on purchasing items has increased by 20% year-on-year, so they are more inclined to buy at low prices through a variety of online channels .

Coincidentally , not long ago, retailers such as Costco, Walmart , Kroger and Target imposed purchase limits on individual categories in the United States, including candy, active dry yeast, household cleaning gloves, printers, tuna, canola oil, canned salmon, plastic wrap, soy milk, macaroni , cheese and pet food .

Due to uncertainties such as the Russia-Ukraine conflict, the development of the epidemic, and inflation, the global supply chain is in a state of volatility. Current consumers tend to stockpile supplies and focus on low-priced fast-moving consumer goods.

Spain

Fast Moving Consumer Goods Demand