CHICAGO – (BUSINESS WIRE) – October 21, 2021–
IRIÂ®, a global leader in innovative solutions and services for consumer, retail and media businesses, today released new data on the availability of a basket of five Thanksgiving-related grocery categories in stores nationwide.
âAs the holiday season approaches and pervasive supply chain challenges continue to impact industries across the economy, IRI tracks a basket of items for their availability, demand, price and promoting them for Halloween, Thanksgiving and Christmas, âsaid Dr. Krishnakumar (â KK â) S. Davey, president of IRI Client Engagement. âThe Halloween season is shaping up to be good with double-digit category growth, and we are currently seeing significant out-of-stock rates in several Thanksgiving-related grocery categories. IRI’s real-time data provides critical information for retailers and manufacturers who manage an increasingly complex and volatile supply chain environment, especially before high demand events. By tracking the availability of critical vacation-related products and categories, IRI enables our retail and manufacturer customers to make better decisions about merchandising, promotional activities and other variables to drive their growth and profitability, and deliver the clients.
Key Thanksgiving-related findings for the week ending October 19, 2021 include:
- Five categories related to Thanksgiving have high and worsening out-of-stock rates. Product availability in the whipped toppings, liquid sauces, frozen pies / pastries, chilled pies and bakery pies categories was 5 to 11 percentage points lower this week than the same time last year, and between 1% and 9% less than the last two – average of the month. Of those contested categories, liquid sauce had the lowest stock rates this week, down 11 percentage points from the period last year and 9 percentage points from the average availability of the two. last months.
- Promotional and pricing activity already reflects shortages. Due to the drop in supply, retailers are offering between 1 and 9 percentage points fewer promotions in these five categories compared to last year. On average, prices in these five categories increased by around 3.6% compared to the same period last year, with frozen pie / pastry shells showing the largest price increase of 6% compared to the same period last year. ‘last year.
- Buyers should expect lower promotion levels and an increased need for substitutions. While some of these categories typically see high levels of promotion as the holidays approach, retailers will have less incentive to promote this year given high demand and low inventory rates. Due to availability, lower anticipated promotional levels, and continued inflation, shoppers may need to substitute items in key Thanksgiving categories (for example, substitute fresh desserts with frozen desserts) or try to find their favorite products in other stores.
- Early indications of supply chain risk for other categories related to Thanksgiving. As the Thanksgiving holiday draws near and demand begins to increase, the data points to an availability risk for other Thanksgiving-related items, including cranberries and stuffing.
The IRI CPG demand, supply, price inflation, and promotion indices are calculated from daily point-of-sale and e-commerce transaction data reported from large chain sales transactions.
IRI is a leading provider of fast-growing big data, predictive analytics and forward-looking information that helps CPG, OTC healthcare organizations, retailers, and financial services and media companies to develop their activities. With the largest repository of purchasing, media, social, causal, and loyalty data, all integrated into an on-demand cloud-based technology platform, IRI is driving the personalization revolution, helping guide its customers. over 5,000 clients around the world on their quest to stay relentlessly relevant, capture market share, connect with consumers, collaborate with key constituents and generate market-leading growth. For more information visit www.iriworldwide.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20211021005190/en/
CONTACT: Shelley Hughes
Email: [email protected]
Telephone: +1 312.474.3675
KEYWORD: ILLINOIS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SUPPLY CHAIN ââMANAGEMENT DATA MANAGEMENT RETAIL TECHNOLOGY SUPERMARKET FOOD / BEVERAGE
Copyright Business Wire 2021.
PUB: 10/21/2021 09:05 / DISC: 10/21/2021 09:05
Copyright Business Wire 2021.