CPG Spend Still Elevated in July
August 21, 2020
In case you had any doubt that consumers are still spending more on groceries this far into the pandemic, as of July 2020, U.S. household consumer packaged goods spending was up 20% compared to July 2019. This is higher than the increase of 17% in June 2020 over the previous year, indicating that as consumers continue to live, work, and cook at home, spending isn’t going back to pre-COVID-19 levels any time soon.
While consumer spending may be gradually creeping down compared to the Extreme Buying period of the pandemic, household grocery spend remains 7% elevated during the Home-Confined Buying phase (March 22 – Present*) compared to the same period one year ago.
What are Americans buying more of this July than they did last? The highest-growing CPG categories during this period were meat (+24%), alcohol (+21%) and frozen foods (+20%); the pandemic clearly isn’t getting in the way of Americans grilling, cracking open a cold one, and enjoying their summers.
Consumers continued to stay close to home as new COVID-19 infections hit highs in many states across the U.S., and this clearly had an impact on their grocery purchase habits. Check back in September to see whether August CPG shopping trends continue on this trajectory.
*Measured through July 31, 2020Contact Us With Questions