Jan 31, 2023Potato retail sales on the rise: Q4 2022 sees nice boost
Potato retail sales increased in dollar sales by 17.2%, but decreased in volume sales by 1.3% from October – December 2022 compared to the same timeframe a year ago. Despite a slight decrease in volume sales, volume sales remain above pre-pandemic levels.
All categories of potatoes increased in dollar sales, with the most significant occurring for frozen potatoes by 33.1%, followed by fresh potato sales at 20% and instant potatoes at 14.5%. Refrigerated potatoes were the only category to increase volume sales (3.3%). The largest decline in volume during the last quarter of 2022 was instant potatoes (-7.6%) and canned potatoes (-4.9%). Volume sales for potatoes were down for all other categories in the store, with an average decline of 1.3%.
Fresh potato dollar sales were up for all types except fingerling and purple. The most significant decrease in volume sales for the last quarter of 2022 were purple, white, and red potatoes, down 34.4%, 10.0%, and 9.3%, respectively.
All pack sizes, except packages greater than 10 lbs., saw an increase in dollars. Volume sales for all pack sizes of 5 lbs. or fewer increased, with the most significant growth in 5-lb. bags (8.3%) and bags fewer than 2 lbs. (3.8%).
On average, consumers spend $2.15/lb. for potatoes at retail, which is less than the prior quarter’s average cost of $2.35/lb. Amidst the price increases, consumers still find potatoes to be an affordable product, as dollar sales have continued to grow, and the volume of potatoes consumers purchase remains above levels in 2019.
– Potatoes USA