Value sales in the the FMCG market in Poland totalled PLN 73.4 billion (€17 billion) in the second quarter, which is an increase of 5.2% compared to the same period last year, according to the latest NIQ Retail Spend Barometer.
The research indicates that a 'significant decrease' in inflation in Poland improved perceptions of the country’s economic situation and the personal finances of consumers.
'Consumer Optimism'
“The second quarter has been positive for FMCG goods, but the slowdown in inflation has tempered the rapid growth seen in recent quarters," commented Dobrochna Lejnert, customer success leader for retail, Poland, at NIQ.
"Despite this, Polish consumer optimism remains strong, as reflected in the 2.5% increase in average FMCG sales volume."
The Polish FMCG market showed a 5.2% increase in sales in the second quarter compared to the same period in 2023.
However, NIQ said this growth is stabilising when compared to the dynamics of the previous year, largely due to a significant drop in inflation.
VAT Rate
The consumer intelligence company said it is worth noting that a key factor influencing sales data for the second quarter was the reinstatement of the 5% VAT rate on select food products as of April 1, 2024, after a temporary 0% rate that began in February 2022.
The change in sales value reflects both price increases (+2.8%) and a rise in sales volume (+2.5%).
Ice Cream Sales
The frozen food sector saw the largest growth, with sales increasing 19%, led by ice cream, which accounts for nearly 70% of frozen food sales.
Ice cream sales surged by 24% in the second quarter, NIQ said this was driven by both rising prices and a 15% increase in sales volume due to favourable weather conditions during the quarter.
