Revolut Data Shows Supermarket Spending Rose 18.9%, Year On Year
Checkout Magazine
Ireland's Industry Magazine For The Grocery Retail And FMCG Sectors.
The latest monthly consumer spending report by Revolut has revealed that supermarket spending increased by 18.9% compared to last year. The new data from the global financial super app (which has more than two million customers in Ireland), revealed that the average consumer in Ireland is spending 15% more, year on year, with inflation and relaxed COVID restrictions contributing. The data also revealed that many consumers are looking to cut costs down by shopping at discount stores, which saw an 13.9% increase in the number of customers, and where the average customer spent 6.8% more.
Spar and Eurospar have recently announced plans to add 60 new stores to their combined network by 2025, culminating in a €65 million investment from BWG Foods, along with independent Spar and Eurospar retailers.This expansion will bring the total number of stores across the combined network to 525 nationwide. BWG Foods noted that it has already identified a number of potential greenfield and brownfield sites and will be focusing on the emergence of new communities in the vicinity of Ireland’s major cities, on the back of new housing developments.The new sites will have the potential to create over 1,100 new jobs, the company added.
Campbell Soup Co raised its annual sales forecast on Wednesday after its quarterly results topped Wall Street estimates, powered by higher prices, improved supply and strong demand for packaged meals and snacks.The company's shares rose about 1% pre-market after it also lifted the lower end of its 2023 earnings outlook. While inflation has strained household budgets, Americans are still snacking on Campbell's cookies and salty snacks while a continued preference for cooking at home bolstered demand for its ready-to-eat meals.
The winners of the 30th Irish Food Writers’ Guild Food Awards have been announced. With just eight prestigious awards presented, the biggest winner of the day was Irish cheese, with Ballylisk of Armagh, Gabriel Faherty of Aran Island Goats’ Cheese and brothers, Kevin and Seamus Sheridan of Sheridan’s Cheesemongers all picking up awards at the 2023 Irish Food Writers’ Guild (IFWG) Food Awards. Speaking about this year’s awards, Caroline Hennessy, chair of the IFWG, said, “Since the Food Award’s inception, each winner has been chosen independently and anonymously by IFWG members, recognising the best in Irish food by shining a light on smaller producers who might otherwise slip under the radar.
Musgrave has been named the Large Learning and Development Organisation of the Year at the annual Chartered Institute of Personnel and Development (CIPD) Ireland HR Awards. The food retail, wholesale and foodservice company noted that the award recognises Musgrave as an organisation that has demonstrated strong links between organisational development activity, the achievement of business goals, and the implementation of a series of learning and development strategies to boost skills and improve team performance.
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