Food Retail to See Volume Growth After Two Years of Decline, Discount Chains Thrive
- Food and health and beauty to be top-performing retail categories in 2024
- RTT predicts food retail volume growth after two years of decline
- Discounters Aldi and Lidl to continue strong performance
- Growth in pharmacy and health and beauty sales due to ‘lipstick effect’
- Circular retail expected to see more success in 2024
- Home improvement and furniture retail face challenges
According to KPMG/RetailNext Retail Think Tank (RTT), food and health & beauty retail categories are set to outperform in 2024. Food retail volume growth is expected after two years of decline, driven by discounters Aldi and Lidl’s market share increase. The ‘lipstick effect’ boosted pharmacy and health & beauty sales by 5.6% last year. Circular retail is predicted to gain momentum in 2024 due to the pre-loved movement. Home improvement and furniture retail face challenges as consumers prioritize value.
Factuality Level: 8
Factuality Justification: The article provides accurate information from multiple sources and experts, discusses various predictions for different retail categories, and presents a balanced view of the market trends.
Noise Level: 6
Noise Justification: The article provides some relevant information about the expected performance of different retail categories in 2024 based on expert predictions, but it also includes some repetitive statements and unnecessary details about specific sales figures for certain companies (Lidl, Aldi) that do not add much value to the overall analysis.
Financial Relevance: Yes
Financial Markets Impacted: The article discusses the predictions for various retail categories’ performance in 2024, which can impact the stocks of related companies such as supermarkets (Lidl, Aldi), pharmacy and health & beauty stores, and fashion brands. It also mentions the growth of circular retail models like resale markets.
Financial Rating Justification: The article discusses predictions about the performance of various retail categories in 2024 and their potential impact on specific companies’ stocks, making it financially relevant.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the article.
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