Data released today by IRI
, the provider of big data and predictive analytics for FMCG manufacturers and retailers, shows that the recent courgette shortage has seriously impacted sales of the vegetable in January. The figures from IRI Retail Advantage* show a steep decline throughout the month, with sales down 58% for the week ending 28 January 2017 – compared to the same week last year.
This is the biggest drop to date and impacted UK retailers to the tune of £715,000 in one week alone. During the previous week (w/e 21 January 2017) IRI saw a similar 51% fall in value sales, worth £655,000.
Overall in January, retailers lost a total of £2+ million in sales for courgettes, due to a shortage of stocks resulting from floods, snow and storms in southern Spain, where many of the UK’s vegetables are sourced during the winter.
Martin Wood, Head of Strategic Insight, Retail at IRI, comments: “We know there have been production problems in southern Europe and it’s starting to impact sales quite dramatically at the leading grocery multiples. It remains to be seen if this downward trend continues. In the meantime, retailers are having to react quickly to the shortage and look to alternative suppliers to plug the gaps and keep customers happy.”
*All figures quoted are from IRI Retail Advantage (Top 9 retailers: Tesco, Sainsbury’s, Asda, Morrisons, Waitrose, Co-Op Food, M&S Food, Iceland and Ocado)
Additional IRI data is available upon request.
IRI is a leading provider of big data, predictive analytics and forward-looking insights that help FMCG, OTC health care, retailers and media companies to grow. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand cloud-based technology platform, IRI guides over 5,000 clients globally in their quests to remain relentlessly relevant, capture market share, connect with consumers and deliver growth. www.IRIworldwide.com
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