CONSUMER | 10-19-2017
Growth was tough to come by at the start of the year, but topline sales did increase during the second quarter. Overall, dollar sales for the year are up 1.4%, with online growth driving the majority of the uptick (0.1% brick and mortar vs 21.1% online). Despite the meager growth, the future looks promising, as Americans are feeling very positive about their general situations: Consumer confidence remains strong at an index of 118, maintaining optimistic levels well above the global average of 104.
Following a tough first three months of 2017, dollar sales increased $6.7 billion (3%), unit sales grew $2.2 billion (3.2%) and deflationary pressures dissipated in the second quarter. Despite the inklings of a rebound, we can see that from an annual trend perspective that we’re not out of the woods yet.
THE E-COMMERCE ELEMENT
While e-commerce represents a sliver of overall dollar sales, it’s growing rapidly and steadily gaining prominence. In fact, online channels have driven 90% of FMCG growth in the past year.
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