Migros customers are filling their shopping baskets less
Published: Tuesday, Mar 26th 2024, 13:21
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Migros customers changed their shopping behavior last year. Although they shopped slightly more frequently, they filled their shopping carts or baskets to a lesser extent, as company boss Mario Irminger explained at the annual media conference in Zurich on Tuesday.
According to Irminger, customer frequency increased by 5.2 percent last year to a total of 369 million purchases. "Whether in supermarkets, discount stores or convenience stores," he said. At the same time, sales in domestic supermarkets grew less strongly at 3.6 percent.
"This reflects changing customer needs. Consumers shop more often, they shop fresher, but they have slightly less in their shopping baskets," said the Migros boss.
Sharp decline in food inflation
According to Irminger, inflation in the food sector was 3.5 percent last year. Over the last 15 years, however, overall inflation has only been around 3 percent. "Overall inflation is therefore driven by the year 2023," he said. We are already seeing a sharp fall in inflation in the current year. "We currently have food price inflation in the range of 1.6 to 1.8 percent," said Irminger.
The fact that households' purchasing power is declining does not mean that the more expensive label products, such as the organic range, are now selling less well, said Irminger. "But the trend is stagnating". Instead, the weaker purchasing power is more likely to be seen in the low-cost range: "Entry-level products are currently experiencing stronger demand," said the Migros boss.
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