FMCG retail grows 86 percent in eight months

ISTANBUL

Fast-moving consumer goods (FMCG) retail, excluding tobacco and alcohol, in Türkiye grew by 86 percent in the first eight months of 2023, a report by NielsenIQ has shown.

Türkiye stands out strongly from other countries with its positive volume performance in the world and European FMCG markets, which are experiencing volumetric decline, commented Didem Şekerel Erdoğan, general manager of NielsenIQ Türkiye.

“Personal care, home care and food categories - confectionery and beverages, in particular- are driving the FMCG growth in Türkiye with their strong volume and value performance,” she said.

Food grew 87 percent year-on-year, while the increase in total beverages was 93 percent in the January-August period, according to NielsenIQ’s report.

Grocery exhibited an annual increase of 83 percent in the first eight months of 2023 from a year ago, and personal care rose by 88 percent. The year-on-year increase in home care was 91 percent.

E-commerce recorded value growth of 131 percent in the January-August period, according to Serkan Sükan, NielsenIQ Türkiye retail services director.

“E-commerce performance is particularly high in the personal Care, home care, food and beverage groups,” he said.

In the same period of 2022, FMGC online sales grew 85 percent on an annual basis.

Economic conditions prompt consumers to take precautions to manage household incomes, Erdoğan said, adding that the top three actions taken by consumers for managing their financial situation are cutting back on discretionary expenses, sticking to a budget and seeking the lowest prices.