This reverses a decade-long decline and builds up on a positive trend observed in the third quarter of 2024 (up 6.8% in October, 7% in November, and 5.3% in December).
The data is sourced from a study by Kantar, in collaboration with Centromarca – the Portuguese Association of Branded Product Companies.
Manufacturer brands lost 2.7 points of share between the beginning of 2023 and the end of the first half of 2024 and “recovered this loss almost entirely in the last six months of 2024”, Pedro Pimentel, general director of Centromarca, told Jornal Económico.
While manufacturer brands regained ground lost in the first half of 2024, the overall household consumption growth slowed to 1.3% due to reduced remote working and a corresponding 6.3% increase in out-of-home consumption.
At the same time, the rate of growth of private-label brands has significantly decreased. Although they experienced a 15.3% increase in value between 2022 and 2023, this slowed to just 2.8% between 2023 and 2024.
Compared to other Western European countries, Portugal and Spain showed stronger purchasing power recovery but slower overall consumption growth, according to Pimentel.
Consumer Trends
Portuguese families spent the biggest chunk of their budget, comprising around 30%, on consumer goods.
Dining out (drinks and meals) saw an 8% rise in purchase frequency, and snacking increased by 2%. Conversely, purchases for at-home consumption, like beverages and cleaning products, decreased by 4% and 1.8% respectively, likely due to the growing trend of eating out.
Different generations shop at different frequencies. Younger consumers (under 34) averaged eight larger shopping trips per month, prioritising efficiency by buying more in fewer trips.
Conversely, the average for older consumers (above 65 year) was 17 smaller shopping trips per month. The age group between 35-64 aligned with the national average of 13 trips per month.
Portuguese consumers shopped at an average of six different stores in 2024 for their consumer goods, up from five in 2019.
This demonstrates a growing trend of diversifying shopping locations, indicating a willingness to explore various retailers for better prices, wider selections, or greater convenience.
