Strong value sales growth witnessed in 2022 and 2023 was fuelled by rampant inflation in the aftermath of the pandemic. With international and domestic supply chains severely disrupted as demand returned at pace following the removal of movement and travel restrictions, a consequence of this was higher costs for both producers and distributors alike, which were passed on to consumers.
The high rates of inflation that emerged towards the end of the review period have yet to subside in 2023. However, growth has at least stabilised with the official inflation rate holding at 6.
Private label ranges play an essential role in consumers’ purchasing decisions. Over the review period, both Foodstuffs and Woolworths invested significantly in revitalising and refreshing their private label ranges, repositioning them from being more economy-oriented to firmly mid-priced and offering a more dynamic range to appeal to the growing demand for premium at-home meal solutions that developed during the pandemic.
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Meals and Soups
This is the aggregation of ready meals, pizza, food kits, prepared salads, and soup. Includes: These are products that have had recipe 'skills' added to them by the manufacturer, resulting in a high degree of readiness, completion and convenience. Food kits is an exception where typically the extent of preparation is much shorter than other meal products; includes meal kits where consumers are to put together pre-portioned ingredients and cook with the guidance of recipe cards. Ready meals are generally accepted to be complete meals that require few or no extra ingredients. However, in the case of shelf stable ready meals, the term also encompasses meal 'centres’; for food kits, they do require a degree of cooking and preparation. As such, some meals may require cooking (ready-to-cook); others may simply need reheating, prior to serving (ready-to-eat). Excludes: Any products sold unpackaged and/or by weight, including food sold from a retail deli counter.
See All of Our DefinitionsThis report originates from Passport, our Meals and Soups research and analysis database.
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