Analysis of Fresh Fruit and Vegetable Sales at Retail

"April’s strong numbers foreshadowed good news for May and the month delivered beyond all expectations. To start, fruit and vegetables generated dollar, unit and pound growth. But the rate of growth is accelerating each month and more and more commodities are starting to trend in positive territory.

As we enter the summer months, there is lots of opportunities for summer fruits, salads, grilling and seasonal crops. In 2024, we have not only the typical national holidays, but also opportunity to rally around events such as the Olympics and staycations in the light of ongoing financial pressures for consumers."

Joe Watson, VP, Retail, Foodservice & Wholesale for IFPA

What's New

Consumer confidence declined further in light of labor concerns

May provided the first clean year-on-year performance look, with March and April affected by the earlier Easter timing that moved the substantial holiday sales from the second to the first quarter of the year.

Consumer sentiment, that took a big dip in April, declined further in May. The University of Michigan expectations index fell to 68.8 in May 2024, down from 76.0 the prior month. Consumers expressed concern over labor — expecting unemployment rates to rise and income growth to slow. Meanwhile, consumers remain worried over the lingering and cumulative impact of inflation.

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Food-away-from-home (restaurant) prices increased 4.0% year-over-year in May versus 1.0% for food-at-home, according to the Bureau of Labor Statistics.
The first five months of the year show a slowdown in restaurant traffic echoed by 27% of consumers in Circana’s May survey of primary grocery shoppers who say they are eating at restaurants less often. Where 80% of consumers ordered restaurant food in May, only 70% of lower-income households did so versus 87% of upper-income households.
Lower-income households are also more likely to implement money-saving measures when shopping for groceries, at 87% versus 73% of upper-income households. Lower-income households are far more likely to buy less/stick to the budget, switch to store brands and shop at value retailers. All income levels and ages are focused on sales promotions and coupons.