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Italian spending improves, in particular in furniture and DIY

Italian spending on fast-moving consumer goods (FMCG) and technology and durable products (T&D) grew by 3.8% in the third quarter of 2024 compared to the same period last year.

Sales of fast-moving consumer goods in Italy surged past 32 billion euros between July and September, marking a 2.9% increase compared to the same period last year. This growth indicates a strong recovery in the sector, also in terms of volume.


Photo: Dreamstime.

Romolo De Camillis, Retailer Director at NIQ Italy, comments, 'In the third quarter of the year, the FMCG sector recorded a revenue growth of 2.9% across all retail channels. This is a very positive figure, exceeding expectations, and is characterised by a recovery in volumes and a gradual easing of inflationary pressures. The improvement in FMCG sales indicators should be analysed within a macroeconomic context that continues to show signs of weakness. This growth can be attributed to Italian consumers favouring domestic consumption over out-of-home consumption, as well as the positive effects of government actions supporting the spending capacity of families in need.'

In particular, the Home Improvement sector – which includes furniture and DIY – recorded nearly €7 billion in revenue in the third quarter, with an 11.1% increase compared to Q3 2023. Noteworthy is the performance of household appliances, which, thanks to a 6.4% increase, reached €1.7 billion.

Ivano Garavaglia, CS Retail Lead & RV Sales Deputy at NIQ Italy comments: 'After many challenging quarters, durable goods have experienced a growth of +5.8%. This very robust performance was driven by the Home Improvement sector, particularly furniture sales. The entire sector, including kitchens and appliances, is still benefiting from the final months of government incentives for replacements. The growth of these sectors has propelled the entire durable goods sector into a decidedly positive territory not seen since early 2023.'

More information:
NIQ
www.nielseniq.com

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