Inflation in the price of groceries in Ireland continues to soar and has hit a new record of 16.4%, with shoppers spending an average of €113.56 more in February than they did during the same period last year, according to Kantar.

Sales of value own-label products have risen 35.8% or €19m as consumers seek to save money where they can, but the average price per pack increased 13.4% last month.

Own-label sales overall rose 11.9% compared to 6.1% for brands, while own-labels' value share has risen from 42.6% in 2021 to 45% now.

Shoppers have also decided to buy less while shopping more frequently, with sales volumes per trip falling 10.9% while shopping frequency has increased 7%.

Dunnes Stores (23.6%) retained its status as the biggest supermarket in terms of market share while seeing annual sales growth of 12.3%, with Tesco in second on 22.9%, with growth of 11.7%.

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SuperValu was third on 20.8%, and its 2.9% sales growth was the strongest recorded by the retailer since April 2021. Lidl claimed a 12.6% share ahead of Aldi (11.7%), with sales at the budget retailers rising 10.9% and 8.8%.

In the 12 weeks to 19 February, take-home grocery sales increased 8.5% in value terms, adding €168.7m to the value of the grocery market.

“This growth in sales is largely down to grocery price inflation hitting 16.4%, a new record high. This time last year it was 2.4% so a significant 14% increase within 12 months," said Emer Healy, senior retail analyst at Kantar.

"In a year of rising costs and sky-high inflation, Irish consumers are looking for ways to manage their household budgets. This has led to the Irish grocery market becoming more competitive than ever, with shoppers looking for the best deals among the retailers.”

Shortages saw consumers spend an additional €2.3m on vegetables year-on-year despite sales volumes falling 9.5%. Volumes of cucumbers and tomatoes fell 17.2% and 8.9%, respectively.

Consumers also spent an additional €1.2m on wine, €1.5m on chilled deserts and €3.8m on chilled ready meals as greater numbers spent Valentine's Day at home.

Spend on gifting chocolate also rose by €326,000, but shoppers have decided against stocking up on Easter eggs too early, with sales down 29% year-on-year.

Meanwhile, sales of flour, eggs, butter and chocolate spread up 11.9%, 29.6%, 19.5% and 55.5%, respectively, for Shrove Tuesday.

Online sales remained strong over the last 12 weeks, up 5.2% year-on-year with shoppers spending an additional €8m online. An influx of new shoppers boosted online sales by €7.1m, with nearly 18% of Irish households purchasing online.

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