Analysis of Fresh Fruit and Vegetable Sales at Retail

"A switch in holiday timing, especially in the light of our report cut-off date always wreaks havoc on shopping patterns and certainly our sales trendlines,” said Joe Watson, IFPA’s VP of Retail, Foodservice and Wholesale.

December 2024

What's New

Consumer Optimism Rises

The University of Michigan Consumer Sentiment Index soared 14% in December 2024, reaching its highest rating since July. The university attributed the sharp increase to consumers believing inflation will slow further and the economy will improve in the near term. The Index rose across the population, including all ages, income levels, education and regions of the country. Sentiment is now just shy of the midpoint between the pre-pandemic reading and the historic low reached in June 2022.

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With more than two-thirds of the U.S. economy fueled by consumer spending, this rising optimism tends to translate into greater spending. This was certainly reflected during post-Thanksgiving through the end-of-year shopping patterns. The Circana survey of primary shoppers found that 54% got restaurant takeout in December and 51% dined at restaurants — among the highest shares in years. At retail, total and food and beverage dollar sales gained 2.1% in December, though unit sales were flat. The fresh perimeter increased sales by 3.5% with units up 0.4% over December last year. It is important to note that December sales reporting went through 12/31/2023 last year and 12/29/2024 this year, which may move some of the New Year’s meal dollars into the January 2025 report.
2024 ended up being a strong year for grocery retailers, with total food and beverage sales of $922 billion. Sales rose 3.0% in dollars and 1.3% in units. Everyday demand was strong due to purchasing restaurant food less often while cooking more in an effort to save money. Holidays and special occasions remained a time when consumers splurged a bit more prompting new records for many of the big national holidays.