By Russell Redman
Source: Supermarket News
Amid supply chain snags and surging costs, grocery manufacturers and retailers expect price increases to spur dollar sales growth heading into next year, new research from Advantage Sales shows.
Six in 10 manufacturers and seven in 10 retailers think consumer packaged goods (CPG) dollar sales will rise during the holiday buying period, according to Advantage Sales’ “Outlook October 2021” grocery industry report, released yesterday. Of the companies surveyed, 63% of manufacturers and 81% retailers said price hikes will be the top driver of year-over-year dollar sales growth for 2021, the Irvine, Calif.-based CPG sales and marketing firm reported.