Consumers these days rely increasingly on supermarkets for their food purchases. While other channels saw their sales dwindle,only supermarkets and particularly discounters –actually posted growth. Notably, last year consumer spending on food declined only marginally (-0.2 percent) compared to total consumer spending (-2.1 percent). Consumers are very cost-conscious and will stay that way in the years to reach. Therefore we carry out not expect total consumer spending to pick up in 2014. These are the conclusions of ABN AMROs 2014 sector update Visie op Food, and which was published today.
Source: abnamro.com