NIQ South Africa releases FMCG and Tech Durables sales data for Q2 2024
FMCG trade grows 3% year-over-year to R303 billion for the first half of 2024
Technology and Durables market growth stable at 2%
Promotions are the key to growth in a price-sensitive market
NIQ South Africa has released its latest State of the Retail Nation 1 analysis for the first six months of 2024. The data reveals that South African consumers spent R303 Billion on fast-moving consumer goods (FMCG) through traditional and modern trade channels during the first half of the year. This represents 3% year-over-year growth, with the gains primarily driven by price increases. Actual sales volumes decreased across most FMCG categories.
Food and Personal & Health Care were the categories that showed the strongest growth at a time when consumers were under significant strain from ...