Italian Spending on Consumer Goods and Technology Soars

Italian households increased their spending on Fast-Moving Consumer Goods (FMCG) and Technology & Durable Goods (T&D) by 3.8% in the third quarter of 2024 compared to the same period the previous year.

Notably, the Home Improvement sector, encompassing furniture and DIY, experienced significant growth, with revenues reaching nearly €7 billion in the third quarter, marking an 11.1% increase compared to Q3 2023. Appliances also performed well, recording a 6.4% growth and generating €1.7 billion in revenue.

Products for personal hygiene (+7.5% vs Q3 2023), baby care (+4.6%), and home care (+3.7%) also saw growth, indicating a volume increase, contrary to consumer technology, which experienced a slight decline compared to the previous year (-0.2%). The NIQ Consumer Barometer – The NIQ Retail Spend Barometer – combines data from NielsenIQ (NIQ) and GfK to measure the turnover of fast-moving consumer goods, technology, and durable goods purchased in stores in Italy.

The NIQ Consumer Barometer thus offers a comprehensive overview of spending in the FMCG sector (food, perishable goods, home and personal care) and the T&D sector (consumer technology goods, appliances, DIY, home furnishings, and automotive) in Italy. This unique study, based on real sales data, analyzes large amounts of cross-sectional data across both categories and channels. The Consumer Barometer is published quarterly to provide a concrete and comprehensive perspective on household spending priorities.

Fast-Moving Consumer Goods (FMCG) Sector Sees Resurgence in Q3 2024

The Italian FMCG sector experienced a rebound in the third quarter of 2024, surpassing €32 billion in revenue from July to September. This represents a 2.9% increase compared to the same period in the previous year, indicating a recovery both in terms of sales volume and value.

Fresh food remained the largest segment, generating over €11 billion in revenue (up 2.8% year-on-year), followed by ambient food (packaged goods) with €6 billion (up 2.7%) and dairy products with nearly €4 billion (up 1.6%). Notably, the personal care (+7.5%), homecare (+3.7%), snacking (+5.6%), and baby care (4.6%) segments experienced the most significant growth, reaching approximately €2 billion, €1.6 billion, €1 billion, and €241 million, respectively.

Romolo de Camillis, Retailer Director of NIQ Italy, commented: “In the third quarter, the FMCG sector recorded a 2.9% increase in revenue across all retail channels. This is a very positive result, exceeding expectations, and is characterized by a recovery in volumes and a gradual easing of inflationary pressures. The improvement in FMCG sales should be analyzed within a macroeconomic context that continues to show signs of weakness. It can be attributed to Italian consumers prioritizing home consumption over out-of-home spending, as well as the positive effects of government measures to support household purchasing power.”

Q3 2024: Tech & Durable Goods Market Shows Strong Growth

In Italy, the Technology & Durable Goods (T&D) market experienced a significant turnaround in the third quarter of 2024, posting a robust 5.8% increase in revenue, reaching €13.6 billion.

Notably, the Home Improvement sector, encompassing furniture and DIY, saw a remarkable 11.1% growth in the third quarter, generating nearly €7 billion in revenue. Appliances also performed exceptionally well, with a 6.4% increase, reaching €1.7 billion.

Ivano Garavaglia, CS Retail Lead & RV Sales Deputy at NIQ Italy, commented, “After several challenging quarters, durable goods have shown a 5.8% growth. This strong performance was driven by the Home Improvement sector, particularly furniture sales. The entire sector, including kitchens and appliances, is benefiting from the ongoing government incentives for replacements. This growth has propelled the entire durable goods sector into a significantly positive territory not seen since early 2023.”

Enzo Frasio, CEO of NIQ and GfK, stated, “The recently concluded quarter has been positive for both fast-moving consumer goods and technology & durable goods. Consistent and timely tracking of consumer habits enables sector improvement and allows for future forecasting. The synergy between NIQ and GfK provides a real-time snapshot of a constantly evolving sector at both a national and global level.”

For more information, please visit: https://nielseniq.com/global/it/landing-page/retail-spend-barometer-italy/

Notes The Consumer Barometer (The NIQ Retail Spend Barometer) examines consumer spending on Fast-Moving Consumer Goods (FMCG) and Technology & Durable Goods (T&D) in Italy. The Barometer is based on data from real sales monitoring and measures changes in consumer purchasing trends. FMCG categories considered include food, perishable goods, and home and personal care items, while T&D categories encompass consumer technology, appliances, and DIY products. Data is sourced from the continuous tracking of retail outlets by NielsenIQ and GfK, which together monitor sales of over 350,000 retail partners worldwide.