Portugal is the sixth largest European country for consumption growth
The Portuguese are buying more consumer goods, and paying more for them too in the second quarter of this year. An increase of 4.2% was noted, above the European average of 3.4%.
Among the 28 countries of the European Union, Portugal is the sixth in terms of fastest growing consumption. The National Consumer Confidence Index is the highest it’s ever been.
The largest growth was in these products: Drinks, frozen foods and toiletries, which grew above average during this period, according to data from Nielsen Growth Report.
“Increasing the confidence level of Portuguese consumers and their attention to well-being, health and leisure are signs of a change that has taken place. The Portuguese are more positive, have more money available, and want to spend it on something that brings them some benefit.”
After a period of some stabilization in volumes and value growth, we are now seeing growth on both sides: this quarter, consumers bought more and also spent more.
“For the rest of the year, we have identified growth opportunities in value-added categories, which will certainly bring more room for value growth, “says Ana Paula Barbosa, Retailer Services Director of Nielsen Portugal, quoted in a press release.
In this quarter, national consumers spent 2.2% more on purchased products (effect of price increase), but also bought more in volume (2%), totalling a growth of 4.2% over the same period last year.
Compared to the average of the 15 countries in Western Europe, consumer goods grew twice as much in value (4.2% vs. 2.1%) and four times more in volume (2% vs 0.5%).