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Analysis

Consumer products M&A update: Q1 2024

The Producer Price Index for food and beverage retailers increased from 269.6 to 270.9 from January 2024 to March 2024.

Consumer products and retail trends

  • Food and beverage
    The Consumer Price Index (CPI) US city average for food and beverages has steadily risen since July 2020, increasing 2.2% between February 2023 and February 2024.1
  • Health and personal care
    In Q1 2024, skincare and makeup products were the most frequently purchased subsectors among Amazon’s top 25 personal care products, highlighting consumer focus on the segment.2
  • Multi-unit and consumer services
    Online ordering continues to pose a strong source of growth for retailers as US online grocery sales are expected to exceed $187 billion in 2024 according to Deloitte.3

 

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References

1. FRED Economic Data, Consumer Price Index for All Urban Consumers: Food and Beverages in U.S. City Average, accessed April 29, 2024.
2. Beauty Matter, “Amazon Q1 2024: Top 25 beauty and personal care products,” April 21, 2024.
3. Rakesh Duggal, Justin Guimond, and Andrew Dinin, “How grocers can thrive amid industry changes,” Deloitte, accessed April 26, 2024.

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