New data reveals that frozen pizza sales have plummeted by over a quarter (27%), with shoppers buying 2.3 million fewer than a year ago.
It comes as prices have surged by over 35% in the past twelve months, adding an average 77p to each pizza, according to analysis by retail data firm Reapp.
The biggest fall in sales came in the South Midlands, with a 35% plunge year-on-year. Sales in London slid by just under a third (29%).
Across the UK, the North West is responsible for the most frozen pizza sales in 2023, with 800,000 units sold to date.
Reapp Commercial Director James Lamplugh commented: “Inflation is continuing to hit shoppers hard. Until prices start to regulate across key categories in our weekly shop, it is no surprise to see sales drop as shoppers seek to make savings wherever they can.”
NAM Implications:
- It’s called supply & demand, folks!
- And all products that exceed the price limits…
- …will experience a reversal in demand, reflecting consumer perception of value for money.
- (how about adding a spot of shrinkflation to really test the strength of your appeal?)
