NIQ Retail Spend Barometer

French consumers spent €238.6 billion on FMCG and Tech&Durables products in 2023

  • French spending amounted to €238.6 billion, an increase of +6.0% in 2023 (€238.6 billion compared to €225.2 billion in 2022).
  • Sales for FMCG products are increasing the most significantly (+8.8% between 2022 and 2023).
  • French consumers are slightly reducing their spending on Tech & Durables (T&D) products (-1.0% between 2023 and 2022: €63.9 billion in 2023 vs. €64.6 billion in 2022).

French consumers’ spending on FMCG and T&D products reached €238.6 billion in 2023. Revenues increased by +6% compared to €225.2 in 2022. Due to the high level of inflation, sales of FMCG products are increasing the most significantly (+8.8% between 2023 and 2022). On the contrary, French consumers lowered their purchases for non-essential goods, so spending on non-food products reduced slightly (-1.0% between 2023 and 2022 – €63.9 billion in 2023 vs. €64.6 billion in 2022).

Inflation boosts FMCG sales

According to the barometer, spending on food (groceries and beverages) showed the largest increase (+9.4%). The peak in spending occured in the first quarter of 2023 (up +11.7% year-on-year) and fell to 6.4% in the last quarter. Expenses in home & personal care products followed with an increase of +7.6% and finally those for fresh products (+7%). Obviously, the unprecedented annual inflation rate of +12.2%, with a monthly peak of +13.6% in April 2023, contributes significantly to these increases.

“2023 did not mean the same for all French consumers, with 22% still limiting spending on food and other daily essentials. Consumers are arbitrating and trying to limit waste. They became vigilant when shopping, looking for opportunities to save money at all means. To manage their budget more efficiently, they tend to divide purchases into smaller carts while increasing frequency of their visits in points of sale or even changing from their usual store. Spending constraints are expected to be a significant factor influencing the market in 2024 and beyond.”

Daniel Ducrocq, Retail Lead for Western Europe, NielsenIQ