GROWTH REPORTER
Europe Market Dynamics
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
INTRODUCTION

Compares overall market dynamics (value and unit growth) in the Fast Moving Consumer Goods
sector across Europe.

Is based on the sales tracking Nielsen performs in every European market.

Covers sales in grocery, hypermarket, supermarket, discount and convenience channels

Is based on the widest possible basket of product categories that are continuously tracked by
Nielsen in each of these countries and channels


Reports on the 1st Quarter of 2017
Week 01, 2017 till week 13, 2017
2
ECONOMIC GROWTH IS IMPROVING AND
SALES OF CONSUMER GOOD REMAIN STABLE
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Context

Economic Growth (GDP) in Europe in Q1 increased to +1.9% (source: Eurostat 28 countries ) which is an improvement on both Q4
and Q1 2016.

The improving economic picture is expected to continue even allowing for the political uncertainty with elections still to come in the
largest economies of UK, France, Germany and Italy.
Trend

With Q1 distorted by a later Easter, Nominal growths were +0.2% and Volume Growth -0.7%.

However Unit Value Growth remained stable at +0.9% indicating that there is little `inflationary` pressure in Consumer Packaged
Goods in the first 3 months of 2017.

The `big 5` Western European countries continue to have the lowest growth and the best momentum is still in Eastern Europe,
Portugal and Spain.
3
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
DRIVERS OF UNIT VALUE GROWTH

Price Increases: typically when there is an upward pressure on the cost of goods (e.g commodity prices, global harvests,
regional weather, price of crude oil, currency depreciation).

Less Promotions: 23% of sales are sold on promotion in Europe *. There is still an upwards direction for branded promotions in a
number of countries e.g France, Spain, Portugal, Netherlands.

Channel Switch: to move expensive retailers or formats. In Europe however, most sales momentum continues to the lower priced
Discounter channels.

Trading Up: to more expensive brands or to premium private label. Private label value share also continues to grow in Italy.

Trading Down: to more smaller and more expensive packs. Products can also be `re engineered` with less volume (content) but
sold at the same price (called `shrinkflation) to avoid shelf price increases . This is a Q1 trend in the UK following currency
depreciation in 2016.
* Strategic Planner 9 countries, FY 2016
4
REGIONAL SUMMARY – EUROPE
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
3,8%
3,6%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
3,1%
2,6%
1,8%
2,4%
2,2%
1,3%
1,3%
1,1%
0,7%
1,0%
0,4%
1,7%
2,3%
Nominal Value Growth
2,0%
1,7%
1,6%
3,0%
2,4%
1,7%
1,6%
1,7%
1,5%
1,9%
0,3%
0,7%
1,7%
1,3%
2,1%
1,3%
1,5%
0,8%
0,7%
0,8%
-0,6%
1,8%
1,1%
0,8%
0,7%
0,8%
0,1%
0,3%
0,9%
0,8%
0,9%
0,2%
-0,7%
2014
2015
2016
Q1 14
Q2 14
Q3 14
Q4 14
Q1 15
Q2 15
Q3 15
Q4 15
Q1 16
Q2 16
Q3 16
Q4 16
Q1 17
Europe - Austria, Belgium , Czech Rep., Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Slovakia, Spain, Sweden, Switzerland,
Turkey, UK.
5
Q1 2017 GROWTH RATES PER COUNTRY (VERSUS Q1 2016)
Fast Moving Consumer Goods market dynamics
Volume growth
Unit value
Nominal Value Growth
11,6%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
5,7%
1,0%
2,8%
-6,7%
-4,5%
-4,3%
-1,5%
0,1%
-1,6%
-1,5%
-0,3%
-0,9%
-1,2%
-0,8%
0,0%
-0,8%
-0,4%
1,9%
-2,3%
1,7%
-0,2%
-1,9%
0,0%
0,9%
-0,9%
0,1%
2,2%
-2,1%
0,7%
0,2%
-0,5%
0,5%
2,9%
-2,4%
1,2%
2,1%
-0,9%
1,3%
0,8%
0,5%
1,6%
1,2%
0,3%
2,2%
0,0%
2,2%
2,3%
2,8%
1,7%
3,4%
4,4%
3,9%
1,2%
5,9%
2,7%
-0,9%
3,2%
-1,0%
-1,6%
-0,6%
-7,3%
-6,0%
6
Q1 2017 GROWTH RATES PER COUNTRY (VERSUS Q1 2016)
Finland
Nominal Growth
Norway
Russia
Sweden
Estonia
Latvia
Lithuania
Denmark
Ireland
Netherlands
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Great Britain
France
Portugal
Switzerland
Spain
Poland
Germany
Belgium
Belarus
Czech
Republic
Austria
Slovakia
Hungary
Ukraine
Moldova
Romania
Slovenia
Croatia Bosnia- Serbia
HerzeBulgaria
govina MonteItaly
Macenegro
donia
Albania
Greece
Turkey
Growth Rate above Europe Average
Growth Rate between “Zero” and Europe Average
Growth Rate below “Zero”
7
Q1 2017 GROWTH RATES PER COUNTRY (VERSUS Q1 2016)
Unit Value Growth
Finland
Norway
Russia
Sweden
Estonia
Latvia
Lithuania
Denmark
Ireland
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Great Britain
Netherlands
Belgium
France
Portugal
Spain
Switzerland
Belarus
Poland
Germany
Czech
Republic
Austria
Slovakia
Ukraine
Moldova
Hungary
Romania
Slovenia
Croatia Bosnia- Serbia
HerzeBulgaria
govina MonteItaly
Macenegro
donia
Greece
Albania
Turkey
Growth Rate above Europe Average
Growth Rate between “Zero” and Europe Average
Growth Rate below “Zero”
8
Q1 2017 GROWTH RATES PER COUNTRY (VERSUS Q1 2016)
Volume Growth
Finland
Norway
Russia
Sweden
Estonia
Latvia
Lithuania
Denmark
Ireland
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Great Britain
Netherlands
Belgium
France
Portugal
Spain
Switzerland
Belarus
Poland
Germany
Ukraine
Czech
Republic
Austria
Slovakia
Moldova
Hungary
Romania
Slovenia
Croatia BosniaHerze- Serbia
Bulgaria
govina MonteItaly
Macenegro
donia
Greece
Albania
Turkey
Growth Rate above Europe Average
Growth Rate between “Zero” and Europe Average
Growth Rate below “Zero”
9
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
MAJOR COUNTRIES
10
FRANCE
Highlights
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Context

On this 1st quarter, all FMCG departments sales are declining - with the exception of weather-sensitive categories & departments like
beverages and ice-creams, due to heat and sunny weather this quarter.

After several years the French market remains impacted by the price war (deflation on national brands) and promotional focus,
enabling shoppers to find very good deals and savings.

At the same time, consumers confirm their taste for innovations and quality products - making a kind of good balance between cheap,
value offers on one hand, and premium items on the other one.

Dynamic channels like ecommerce and convenience keep growing while hypermarkets and supermarkets are suffering.
Trend

Calendar effect of Easter lowering the trend in Q1, as Easter happened in Q1 in 2016, but took place in Q2 in 2017.

Nominal sales are negative for the first time for years now (-0.8%), with volumes remaining stable this quarter and thus not
compensating the drop in value change.

2016 had in France the less dynamic trend for years, which is now turning to a decrease in sales in 2017.
11
FRANCE
Fast Moving Consumer Goods market dynamics
Volume change
2,2%
0,2%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
1,1%
1,0%
0,6%
0,9%
1,9%
0,2%
1,3%
0,6%
0,1%
1,7%
1,1%
2,0%
0,8%
Nominal growth
2,2%
1,6%
1,3%
0,2%
Unit value change
1,7%
0,6%
0,6%
0,0%
1,5%
1,0%
1,4%
1,1%
0,3%
0,8%
0,7%
0,4%
0,8%
0,5%
0,2%
0,3%
0,7%
0,9%
-0,2%
-0,7%
0,8%
0,4%
0,4%
0,0%
-0,8%
-0,8%
2014
2015
2016
Q2 14
Q3 14
Q4 14
Q1 15
Q2 15
Q3 15
Q4 15
Q1 16
Q2 16
Q3 16
Q4 16
Q1 17
Click & Drive channel included from 2013 data (2014 trends) and Convenience Stores included from 2014 data (2015 trends);
12
GERMANY
Highlights
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Context

The German economy continues to develop positively. Q4 2016 ends with an economic growth of +1,7%. In 2016 the year-round
growth is 1.9%.

This positive growth is mainly affected by the positive job expectations and the positive prospects of the international economic cycle.

Apart from this, the expansive monetary policies of the EZB is pushing the economic growth.

In 2017 the upturn is likely to continue. Four working days less lead to a weakened increase in GDP to an estimated growth of + 1.4%.
Without this special effect, experts estimate, the German economy will expand at almost the same rate as in 2016.
Trend

The FMCG market can not quite take the positive momentum of 2016 at the beginning of 2017 and is decreasing by -1.7% versus Q1
2016 . Although there was a sharp price increase again, the volume sold remained below the previous year's level (-3,1 % versus Q1
2016).

In particular the weaker sales development of the hypermarkets over 2.500 m2 and the supermarkets up to 1.000 m2 curb the market –
also in the hypermarkets the promotion pressure has been decreased.

An average price increase of 16 % makes fats and oils one of the strongest growth category (+ 8,9% versus Q1 2016).
13
GERMANY
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
3,5%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
2,1%
1,5%
1,3%
1,6%
-0,1%
0,8%
2,8%
0,4%
1,5%
1,3%
2,0%
0,4%
1,2%
-0,8%
1,0%
0,2%
-0,8%
2,4%
0,4%
0,9%
2,5%
1,5%
1,7%
-0,2%
1,4%
1,5%
1,7%
1,1%
-0,2%
1,2%
-0,3%
-1,5%
0,9%
0,3%
-0,6%
0,8%
1,1%
-0,3%
1,5%
0,3%
-1,2%
2,8%
-1,5%
-4,3%
2014
2015
2016
Q2 14
Q3 14
Q4 14
Q1 15
Q2 15
Q3 15
Q4 15
Q1 16
Q2 16
Q3 16
Q4 16
Q1 17
14
ITALY
Highlights
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Context

YTD trend is affected by the calendar effect of Easter which contained sales ev. in comparison with a year ago.

Prices dynamics have been driven by an inflation that turned back to growth (+1,4%) after closing 2016 with a flat evolution (0,01%).

Growing prices highlighted consumers research for saving, increasing the gap between Prices and basket value evolution. In fact
volumes that grown in 2016 (2.09%), started to decreased in 2017, weakening also the mix evolution (-0,6%)
Trend

In the last quarter Nominal sales growth has been influenced by the growth in prices.

Q1 2017: Nominal Sales growth (0.17%) and Volume growth (-0.51%) so Unit change (0.68%)
15
ITALY
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
2,0%
1,9%
1,8%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
1,5%
0,5%
1,0%
-0,5%
1,1%
0,8%
1,5%
-0,6%
1,8%
1,9%
-0,1%
0,0%
2014
2015
2016
Q2 14
1,6%
1,4%
0,3%
1,2%
2,1%
1,4%
1,1%
-0,6%
-0,2%
-0,7%
Nominal growth
-0,6%
-0,9%
-0,2%
-1,2%
-1,2%
Q3 14
Q4 14
Q1 15
0,4%
0,6%
-0,2%
Q2 15
0,9%
0,3%
0,4%
-0,3%
0,1%
-0,9%
Q3 15
Q4 15
Q1 16
2,1%
Q2 16
-1,0%
-0,5%
Q3 16
Q4 16
0,7%
0,2%
-0,5%
Q1 17
16
UK
Highlights
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Context

The later Easter had an impact on growths but the recovery of sales at the top4 Supermarkets (67% of Total Till sales) continues, but
at a slow pace.

Promotional spend continues to fall and hit a11 year low of 26% of sales.

Incremental growth is coming from additional spend in Confectionery, Beverages e.g spend for Events and in Fresh Foods, which is
driven by a `little and often` shopping trend.

Structural change is underway in the UK. The shift in sales away from big stores towards online and to small stores continues.

Discounters also capturing more of the regular, weekly shop with a new market share high of 13%.
Trend

Inflation returned to the Economy (+2.8%) but an intense price war has held back CPG inflation.

A seasonally affected -1.5% fall in nominal sales and a -3.1% decline in volumes.

The consumer mind-set will inevitably move towards uncertainty as `Brexit `gains momentum but there has not yet been any dramatic
change in CPG shopping behaviour in Q1.
17
UK
Fast Moving Consumer Goods market dynamics
Volume change
2,2%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
1,3%
-0,6%
-1,9%
-0,3%
-0,2%
-0,5%
-0,3%
0,0%
-0,3%
2015
2016
-1,1%
Q1 14
Nominal growth
1,2%
2,3%
0,7%
0,2%
-0,5%
-0,3%
0,5%
-0,7%
-0,2%
-0,4%
-0,4%
-0,8%
0,2%
-0,3%
-0,5%
-0,6%
0,1%
-0,5%
Q2 14
Q3 14
0,7%
0,5%
0,1%
0,4%
-0,5%
-1,1%
-0,5%
-2,5%
-1,8%
-1,6%
-3,8%
2014
Unit value change
-0,2%
-0,7%
0,7%
0,0%
-1,5%
-1,6%
Q4 14
Q1 15
Q2 15
Q3 15
Q4 15
Q1 16
Q2 16
0,1%
-1,6%
Q3 16
Q4 16
Q1 17
18
SPAIN
Highlights
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Context

Spanish economy continues showing a solid performance: GDP 3 % growth in Q1 is similar to last 2016 quarter

Unemployment rate is still high (above 18 %) although nearly 2 points less than last year

Population is no longer contributing to FMCG growth, as in last decade

Supported by new stores opening, large supermarkets and proximity stores are the fastest growing channels
Trend

Q1 2017 was also a positive period for FMCG market in Spain (+2.2 %), basically supported by volume sales performance

Food prices are flat vs last year, well below General Price Index
19
SPAIN
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
3,6%
2,4%
0,9%
0,7%
1,4%
1,6%
3,1%
0,3%
2015
1,2%
2,8%
0,9%
0,3%
-0,6%
2016
Q2 14
2,1%
0,7%
-1,4%
Q3 14
1,0%
-0,1%
-1,1%
Q4 14
0,9%
0,7%
0,2%
Q1 15
0,9%
1,1%
2,7%
1,4%
2,0%
-0,7%
2014
3,0%
1,9%
1,3%
0,1%
3,1%
0,8%
2,2%
3,6%
2,1%
0,4%
3,5%
3,9%
1,7%
2,2%
0,0%
2,2%
-0,3%
Q2 15
Q3 15
Q4 15
Q1 16
Q2 16
Q3 16
Q4 16
Q1 17
20
PORTUGAL
Highlights
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Context

With the increase of the consumer confidence and the economic stabilization, there is also an increase in the demand for premium
products related to beauty, convenience, health or small indulgences.

In the last years, the price promotions have gained special importance in the Portuguese retail, achieving more than 40% of sales in
value and leading to deflation.

In this period, this deflation scenario shows signs of recovery with a price effect of 1.2pp.

Some categories (like dairy, groceries, commodities, frozen products, etc.) that in the last year were in a “price war”, have now
stabilized their prices.
Trend

Nominal Sales increased by 1.6% in the first quarter of 2017. In this period, Sales in volume grew by 0.3%, so Portugal presents a
positive price effect of 1.2pp, the highest since 2012.

One of the reasons of the sales in volume slower increase is that the Easter period of the last year is considered in this first quarter
unlike the Easter of 2017. This is a relevant period for Portuguese consumption.
21
PORTUGAL
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
4,0%
0,6%
3,2%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
2,5%
1,4%
1,8%
-0,5%
-0,3%
2,5%
0,5%
3,6%
1,8%
2,6%
-0,1%
1,1%
0,0%
-1,0%
-0,6%
-1,1%
0,5%
-0,1%
0,5%
-1,5%
-0,9%
1,3%
1,7%
-0,4%
3,1%
-0,6%
-1,4%
-0,4%
2,3%
0,9%
-1,3%
2,7%
3,4%
1,6%
1,2%
0,3%
1,2%
-1,8%
-0,9%
0,3%
Q1 16
Q2 16
-1,8%
-2,4%
2014
2015
2016
Q2 14
Q3 14
Q4 14
Q1 15
Q2 15
Q3 15
Q4 15
Q3 16
Q4 16
Q1 17
22
NETHERLANDS
Highlights
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Context

In 2016 inflation varied mostly between 0-1%, but is now increasing to 1.5% in Q1

The unemployment rate is decreasing: 6% in 2016, dropping to 5.4% end of Q1

Consumer expenditures are up 2.4% (average of January and February), which is more than in 2016 (+1.3%)
Trend

Volume growth is limited in recent years in the Netherlands

In Q1 Nominal growth is pulled down by Volume growth

Volume growth is largely effected by Easter period which was considered in this first quarter of 2016 unlike the Easter of 2017.
23
NETHERLANDS
Fast Moving Consumer Goods market dynamics
Volume change
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
1,2%
1,5%
0,6%
-0,9%
2014
1,2%
0,0%
1,3%
1,8%
1,2%
1,8%
0,6%
-0,5%
1,7%
-0,5%
-1,2%
2015
2016
Q2 14
Q3 14
1,4%
2,1%
Unit value change
Nominal growth
1,7%
2,0%
-0,2%
0,7%
0,8%
-0,1%
0,9%
0,9%
0,0%
1,1%
0,2%
Q1 15
Q2 15
0,7%
Q3 15
Q4 15
0,9%
1,9%
1,3%
-0,6%
-0,6%
Q4 14
1,5%
1,4%
Q1 16
1,0%
2,0%
1,9%
-0,3%
-1,0%
-1,0%
Q2 16
Q3 16
1,7%
-0,2%
-1,9%
Q4 16
Q1 17
24
AUSTRIA
Highlights
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Context

The Easter season peak took place earlier last year and shifts to Q2 in 2017 instead of Q1 in 2016.

Organic products and premiumization are also accelerating total sales growth and contribute significantly throughout various
categories.

Another influencing factor is the insolvency of the retailer Zielpunkt in the end of 2015 – approximately half of all former Zielpunkt
stores were reopened by other market players in course of last fall, leading to an additional contribution to the nominal value sales
increase in Q1/2017.

Consumer sentiment is still showing positive momentum due to improved job prospects and on-going positive impact of last year’s tax
reform.
Trend

The nominal sales value increased substantially – an influential factor was that March weather had an all-time high leading to earlier
spring/outdoor season activation.

Nominal sales increased by +2,8% in Q1/2017 above all due to a growth in volume of +1,7% which is strongly impacted by the
performance of the discounters in Austria.
25
AUSTRIA
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
5,8%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
2,0%
3,4%
2,1%
1,7%
0,8%
1,3%
-0,9%
1,8%
1,2%
0,6%
2,5%
2,7%
2,0%
2,5%
-0,2%
-1,0%
-3,5%
2014
2015
2016
Q2 14
Q3 14
2,3%
-0,3%
Q4 14
2,8%
2,5%
0,2%
Q1 15
2,9%
2,1%
2,5%
3,8%
1,8%
2,7%
1,1%
1,3%
1,4%
Q4 15
Q1 16
-0,4%
Q2 15
Q3 15
3,8%
1,2%
** Data has been restated from Q1 2015
Only Grocery retail from Q1 14-Q4 15, for all other periods Grocery and Drug retail
2,8%
1,0%
0,8%
-0,1%
-0,9%
0,7%
1,3%
-0,6%
2,6%
Q2 16
Q3 16
Q4 16
1,7%
Q1 17
26
BELGIUM
Highlights
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Context

Economy continues with stable performance: The GDP increased by +1.2% in volume over 2016

The employment situation is also getting better : Unemployment rate was of 7.9% in 2016 (versus 8.6% in 2015)

Price dynamics have been driven by an inflation : The inflation was of 1.97% in 2016 (versus 0.6% in 2015)
Trend

In Q1, Volume growth rate is improved and reflects optimism for future

Easter sales shift (it was reflected in Q1’16, while in 2017 will be in Q2) also have an impact on volume growth
27
BELGIUM
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
5,7%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
2,0%
2,4%
1,2%
1,2%
2014
1,2%
1,2%
0,0%
2015
2,6%
1,1%
3,7%
0,8%
1,4%
-0,6%
-1,6%
2016
Q2 14
Q3 14
1,7%
0,3%
0,4%
0,2%
-0,2%
Q4 14
1,4%
Q1 15
0,3%
0,4%
-0,1%
Q2 15
1,7%
1,5%
1,5%
2,3%
0,2%
-0,8%
Q3 15
Q4 15
3,4%
1,7%
2,9%
0,0%
-1,7%
Q1 16
1,5%
2,3%
-0,8%
1,7%
0,6%
-1,1%
Q3 16
Q4 16
0,0%
-0,9%
-2,9%
Q2 16
0,9%
Q1 17
28
POLAND
Highlights
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Context

From macroeconomic point of view overall market situation in Poland is optimistic. At the end of the year (Q4’16) GDP has been higher
than year ago.

The situation in the labour market in Q1’17 is also better than a year ago hitting the lowest level of unemployment rate.

Increasing inflation has been observed in the past months – now it is 2,0% – which is more positive sign for trade sector than for
consumers.

Reffering to FMCG Growth Reporter in Q1’17 Sales value change has been driven by increased level of average price, while volume
sales impacted it negatively.
Trend

In Q1’17 Nominal growth of FMCG sales value is on a similar level comparing to Q1’16 (+0,5%).

Volume sales growth has been observed since 2013. However in Q1’17 volume sales change was lower than year ago. The situation
may be caused by the Easter sales shift (in 2016 it was reflected in Q1’16, while in 2017 will be in the second quarter).

The prices of consumer goods were higher than in Q1’16. The highest change of average price change was observed in Dairy industry,
due to increase and stabilisation of milk price throughout last year.
29
POLAND
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
6,2%
0,5%
4,4%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
1,2%
1,4%
2,4%
1,2%
1,0%
2,6%
0,2%
-0,2%
3,2%
1,7%
2,2%
2015
2016
Q1 14
3,2%
0,2%
2,6%
3,1%
2,7%
1,3%
-0,1%
1,5%
-0,2%
-0,1%
Q2 15
Q3 15
0,0%
1,2%
4,1%
4,2%
3,4%
0,1%
5,7%
3,5%
3,3%
2,2%
0,7%
2,2%
1,5%
0,7%
2,9%
2,9%
Q2 14
Q3 14
Q4 14
Q1 15
0,5%
-2,4%
-1,2%
-1,0%
-2,7%
2014
4,0%
3,6%
5,1%
Q4 15
Q1 16
Q2 16
Q3 16
Q4 16
Q1 17
** Data has been restated since Q2 2015 with Discounters Premium Read (Biedronka scanning included)
Data for FY 2014, 2015 and to Q1’15 (incl.) based on the previous market definition
30
NORWAY
Highlights
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Context

Economic momentum is building gradually and GDP has grown by 1.8% annually in Jan 2017

A rapid deceleration in inflation after it surged in late 2016, combined with declining unemployment, is giving households some respite.

In FMCG, calendar effect of Easter lowering the trend in Q1, as Easter happened in Q1 in 2016, but took place in Q2 in 2017.
Trend

In Q1/17, volume sales dropped to -0.91%, first time since Q1/15

Even though the value sales remains stable from Q4 at 2.1%, drop in volume sales results in a nominal growth of 1.2%, which is the
lowest measured in the Norwegian market the last three years.
31
NORWAY
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
6,0%
1,8%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
4,3%
1,5%
3,0%
1,3%
2,8%
1,7%
4,3%
1,7%
2,6%
2,6%
2,5%
2015
2016
2,2%
3,2%
-0,1%
0,9%
2014
3,1%
0,5%
4,2%
1,7%
3,0%
Q2 14
Q3 14
Q4 14
Q1 15
3,6%
3,5%
2,3%
2,1%
1,0%
1,2%
1,4%
3,3%
0,8%
Q3 15
Q4 15
2,1%
2,0%
2,5%
1,4%
1,3%
Q2 15
3,5%
Q1 16
Q2 16
2,0%
2,1%
2,0%
0,0%
-0,1%
Q3 16
Q4 16
1,2%
2,1%
-0,9%
Q1 17
32
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
OTHER COUNTRIES
33
CZECH REPUBLIC
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
4,4%
3,2%
0,3%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
2,7%
2,9%
1,8%
0,4%
1,5%
-0,2%
2,3%
3,2%
2,4%
1,4%
2,9%
3,0%
1,2%
-0,7%
-1,5%
2014
3,7%
0,7%
2015
2016
Q2 14
Q3 14
2,6%
2,2%
2,1%
1,0%
0,9%
1,2%
1,3%
2,9%
-0,2%
Q4 14
Q1 15
Q2 15
1,7%
2,8%
Q3 15
0,4%
0,0%
-0,5%
-1,1%
Q4 15
Q1 16
2,0%
3,4%
2,3%
1,7%
2,3%
3,1%
-0,6%
3,2%
-0,9%
-1,5%
Q2 16
Q3 16
Q4 16
Q1 17
** Data has been restated from Q1 2015
34
DENMARK
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
1,8%
0,2%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
1,0%
0,0%
1,0%
1,7%
0,8%
0,1%
0,7%
1,5%
0,3%
1,2%
0,2%
0,9%
0,1%
1,0%
0,4%
0,3%
-0,4%
-0,1%
0,4%
0,0%
Nominal growth
1,2%
1,7%
1,5%
0,5%
0,7%
0,1%
-0,2%
0,0%
0,6%
-0,2%
1,0%
0,3%
0,1%
-0,7%
-0,4%
0,0%
-0,4%
0,6%
0,2%
-0,4%
-0,9%
-0,3%
-1,2%
2014
2015
2016
Q2 14
Q3 14
Q4 14
Q1 15
Q2 15
Q3 15
Q4 15
Q1 16
Q2 16
Q3 16
Q4 16
Q1 17
35
FINLAND
Fast Moving Consumer Goods market dynamics
Volume change
0,1%
-1,6%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
-1,5%
0,0%
-2,0%
-2,0%
-1,9%
0,4%
0,3%
0,1%
0,2%
0,7%
-2,8%
-2,2%
-3,9%
-2,5%
Unit value change
-1,8%
-0,7%
-0,1%
-1,8%
-1,8%
-2,5%
-0,7%
Nominal growth
0,8%
-0,3%
-1,1%
-2,2%
-2,7%
-2,3%
-1,4%
-2,3%
-3,4%
-3,2%
-4,4%
-4,1%
-2,1%
-0,7%
-3,9%
-1,6%
-5,5%
-6,0%
-6,6%
2014
2015
2016
Q1 14
Q2 14
Q3 14
Q4 14
Q1 15
Q2 15
-4,5%
-2,3%
-2,9%
-3,2%
0,9%
0,3%
Q3 15
Q4 15
Q1 16
Q2 16
Q3 16
Q4 16
Q1 17
** Data has been restated from 2012
36
GREECE
Fast Moving Consumer Goods market dynamics
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Unit value change
-0,7%
-0,7%
-1,4%
0,1%
-0,9%
-0,8%
3,1%
0,0%
-0,7%
0,7%
-0,2%
-0,6%
0,4%
-9,8%
-3,1%
-0,8%
-3,9%
Volume change
-0,5%
-1,7%
-2,2%
1,0%
2,5%
-1,5%
-2,3%
0,9%
-1,4%
Nominal growth
3,4%
0,8%
-2,6%
5,4%
4,5%
-12,2%
-6,7%
-6,8%
-15,3%
2,5%
-0,3%
-0,6%
-8,7%
-2,6%
-2,9%
-6,7%
-6,2%
-7,3%
-10,7%
2014
2015
2016
Q2 14
Q3 14
Q4 14
Q1 15
Q2 15
Q3 15
Q4 15
Q1 16
Q2 16
Q3 16
Q4 16
Q1 17
37
HUNGARY
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
8,3%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
6,7%
5,1%
1,7%
2,6%
4,1%
3,4%
2,2%
2,8%
3,9%
7,9%
1,8%
1,7%
6,4%
4,4%
1,9%
4,2%
2,5%
1,7%
5,8%
5,0%
4,9%
6,6%
3,2%
Nominal growth
2,8%
2,7%
6,1%
2,2%
1,7%
-1,1%
2014
2015
2016
4,5%
4,1%
1,6%
3,2%
-1,6%
Q2 14
Q3 14
Q4 14
Q1 15
Q2 15
Q3 15
Q4 15
Q1 16
3,3%
3,4%
2,4%
4,9%
-0,6%
4,1%
0,4%
4,4%
-1,0%
-2,5%
Q2 16
Q3 16
Q4 16
Q1 17
38
IRELAND
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
4,0%
2,0%
0,3%
1,2%
0,6%
1,7%
0,5%
2,3%
0,9%
1,4%
1,7%
2,3%
0,8%
-0,6%
-1,4%
1,1%
0,6%
2015
2016
Q2 14
Q3 14
1,8%
-0,5%
-2,3%
-1,7%
-4,0%
2014
2,4%
0,0%
Q4 14
Q1 15
0,7%
0,3%
0,4%
Q2 15
4,6%
2,2%
1,1%
1,1%
2,4%
2,6%
1,3%
1,3%
-0,6%
Q3 15
Q4 15
1,5%
1,2%
0,3%
2,1%
0,6%
1,5%
2,2%
0,1%
-2,1%
Q1 16
Q2 16
Q3 16
Q4 16
Q1 17
39
NORWAY
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
6,0%
1,8%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
4,3%
1,5%
3,0%
1,3%
2,8%
1,7%
4,3%
1,7%
2,6%
2,6%
2,5%
2015
2016
2,2%
3,2%
-0,1%
0,9%
2014
3,1%
0,5%
4,2%
1,7%
3,0%
Q2 14
Q3 14
Q4 14
Q1 15
3,6%
3,5%
2,3%
2,1%
1,0%
1,2%
1,4%
3,3%
0,8%
Q3 15
Q4 15
2,1%
2,0%
2,5%
1,4%
1,3%
Q2 15
3,5%
Q1 16
Q2 16
2,0%
2,1%
2,0%
0,0%
-0,1%
Q3 16
Q4 16
1,2%
2,1%
-0,9%
Q1 17
40
SLOVAKIA
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
4,8%
0,6%
4,5%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
0,8%
2,7%
0,2%
2,5%
2,8%
0,6%
2,3%
2015
3,5%
3,6%
3,5%
3,1%
2,7%
3,4%
2016
3,6%
3,7%
-0,7%
2014
Nominal growth
Q2 14
3,5%
1,0%
0,3%
0,7%
-0,1%
0,0%
Q3 14
Q4 14
Q1 15
2,0%
0,2%
1,8%
Q2 15
1,1%
0,4%
0,7%
Q3 15
Q4 15
3,2%
0,1%
1,4%
4,5%
3,9%
4,2%
3,9%
0,9%
1,1%
3,0%
-0,8%
-0,2%
-0,9%
Q1 16
Q2 16
Q3 16
Q4 16
2,5%
Q1 17
41
SWEDEN
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
4,9%
4,2%
3,9%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
2,5%
1,9%
0,8%
1,1%
2014
2,6%
1,8%
3,3%
0,2%
3,1%
2,5%
0,6%
1,9%
1,4%
0,8%
2015
2016
1,8%
1,2%
2,4%
Q3 14
Q4 14
2,7%
Q1 15
Q2 15
2,6%
2,8%
1,9%
1,2%
2,0%
0,4%
1,0%
Q3 15
3,2%
2,3%
2,3%
2,6%
0,1%
1,4%
-0,2%
Q2 14
3,8%
1,6%
1,5%
0,2%
0,6%
1,0%
1,3%
1,9%
-0,4%
-2,3%
Q4 15
Q1 16
Q2 16
Q3 16
Q4 16
Q1 17
42
SWITZERLAND
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
1,7%
0,3%
1,2%
1,0%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
1,1%
0,1%
-0,3%
0,3%
-0,1%
0,4%
0,4%
0,7%
-0,3%
0,5%
0,9%
0,5%
0,1%
0,4%
-0,3%
-1,3%
-1,0%
-0,4%
-1,3%
0,8%
0,1%
-1,5%
-1,1%
2016
Q2 14
Q3 14
Q4 14
Q1 15
1,4%
0,3%
-1,5%
-0,7%
-1,2%
Q1 16
Q2 16
0,8%
0,3%
-0,7%
-0,4%
-0,9%
-1,6%
-2,3%
-2,4%
2015
-0,7%
-1,6%
-1,3%
2014
1,3%
Q2 15
Q3 15
Q4 15
Q3 16
Q4 16
Q1 17
43
TURKEY
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
16,9%
13,6%
13,5%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
12,3%
8,2%
9,1%
8,1%
2014
2015
12,4%
11,6%
9,5%
9,7%
9,0%
6,4%
2,9%
13,1%
9,0%
9,4%
5,4%
14,7%
13,7%
9,5%
2016
Q2 14
Q3 14
Q4 14
Q1 15
8,5%
3,6%
2,7%
Q2 15
8,1%
8,8%
5,7%
4,7%
9,2%
5,0%
4,7%
8,9%
9,5%
7,9%
5,4%
9,7%
6,8%
5,7%
2,9%
0,3%
1,2%
2,1%
Q3 15
Q4 15
Q1 16
Q2 16
Due to exclusion of Alcohol and Tobacco, history is updated from Q3 13
From 2017; Turkey began to include "ŞOK" (one of three major hard discounters in Turkey) in FMCG Track data.
2,4%
4,1%
Q3 16
Q4 16
5,9%
Q1 17
44
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
EXTENDED EUROPE
Based on Bimonthly reporting cycles
Categories covered in food and drug channels
Bosnia
Bulgaria
Croatia
Estonia
Israel
Latvia
Lithuania
Macedonia
Romania Russia
Serbia Slovenia
Ukraine
BOSNIA-HERZEGOVINA
Fast Moving Consumer Goods market dynamics
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Volume change
-0,5%
-1,4%
-1,9%
1,6%
-1,3%
-2,9%
-1,3%
0,1%
-1,1%
2,5%
3,0%
-0,5%
0,1%
-2,5%
-2,4%
-4,5%
-0,2%
-4,7%
Unit value change
3,3%
4,0%
-0,7%
Nominal growth
4,3%
7,8%
3,0%
1,2%
-1,8%
-8,4%
-4,0%
1,0%
-2,6%
-1,5%
-3,5%
-1,4%
0,0%
-1,4%
-0,8%
-1,5%
-2,2%
0,3%
-0,9%
1,1%
-2,6%
-6,6%
-1,7%
-10,1%
2014
2015
2016
Dec-Apr Apr-Aug Aug-Dec Dec-Apr Apr-Aug Aug-Dec Dec-Apr Apr-Aug Aug-Dec Dec-Apr Apr-Aug Aug-Dec
13
13
13
14
14
14
15
15
15
16
16
16
46
BULGARIA
Fast Moving Consumer Goods market dynamics
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Volume change
1,1%
0,3%
0,9%
2,0%
2,4%
-0,5%
2,7%
2,0%
0,1%
1,6%
1,1%
0,7%
-1,6%
-0,9%
1,0%
-5,5%
-4,5%
2014
2015
Unit value change
2016
1,5%
0,8%
0,3%
0,5%
0,4%
0,1%
0,3%
2,0%
Nominal growth
2,9%
3,8%
-0,9%
3,1%
2,0%
2,8%
-0,8%
1,1%
1,1%
-0,1%
1,5%
1,6%
2,5%
1,3%
1,1%
2,5%
1,4%
1,1%
-6,2%
-4,7%
Dec-Apr Apr- Aug Aug-Dec Dec-Apr Apr- Aug Aug-Dec Dec-Apr Apr-Aug Aug-Dec Dec-Apr Apr-Aug Aug-Dec
13
13
13
14
14
14
15
15
15
16
16
16
47
CROATIA
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
3,3%
0,1%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
2,1%
2,3%
-1,7%
-0,2%
1,1%
2,3%
-1,2%
2,3%
2,9%
1,7%
1,2%
0,0%
-1,2%
-0,1%
0,1%
-0,1%
1,8%
0,8%
-1,2%
-1,6%
-2,4%
-0,4%
-3,5%
-3,1%
-1,1%
0,5%
1,8%
3,2%
4,3%
1,7%
0,6%
1,7%
-2,6%
-1,1%
1,1%
0,2%
0,9%
-2,8%
-3,9%
-4,4%
-3,9%
-2,4%
-5,5%
2014
2015
2016
Dec-Apr Apr -Aug Aug-Dec Dec-Apr Apr -Aug Aug-Dec Dec-Apr Apr -Aug Aug-Dec Dec-Apr Apr -Aug Aug-Dec
13
13
13
14
14
14
15
15
15
16
16
16
48
ESTONIA
Fast Moving Consumer Goods market dynamics
Volume change
5,7%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
4,8%
3,2%
2,8%
2,0%
2014
1,2%
0,5%
0,7%
2015
1,8%
2,7%
2,5%
2,8%
1,9%
0,4%
-1,0%
2016
Q2 14
Nominal growth
5,3%
2,3%
2,4%
Unit value change
Q3 14
Q4 14
2,0%
1,9%
1,0%
1,1%
1,2%
0,7%
Q1 15
Q2 15
2,8%
4,3%
2,2%
0,3%
0,2%
0,1%
Q3 15
0,7%
0,6%
0,1%
0,9%
1,3%
2,4%
0,8%
-1,5%
Q4 15
Q1 16
Q2 16
5,8%
2,5%
1,2%
3,6%
-1,5%
-3,3%
-2,4%
Q3 16
Q4 16
Q1 17
49
ISRAEL
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
4,4%
2,4%
1,8%
0,6%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
3,0%
-1,0%
0,4%
-1,1%
-0,7%
0,4%
1,4%
-1,0%
0,3%
-0,7%
-0,4%
-1,6%
-2,6%
-0,5%
-2,0%
-2,5%
-1,9%
0,1%
-2,8%
-2,5%
0,5%
-1,1%
-0,6%
4,9%
0,5%
-1,7%
-1,2%
-0,5%
1,2%
1,8%
-0,5%
0,6%
-3,4%
-2,8%
-2,0%
-3,8%
0,7%
1,5%
-0,8%
-4,5%
-5,7%
2014
2015
2016
Q2 14
Q3 14
Q4 14
Q1 15
Q2 15
Q3 15
Q4 15
Q1 16
Q2 16
Q3 16
Q4 16
Q1 17
50
KAZAKHSTAN
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
24,3%
22,1%
20,0%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
13,2%
15,2%
14,1%
8,9%
6,2%
-1,3%
-7,4%
2014
2015
1,0%
2016
15,2%
13,2%
1,3%
0,9%
ON-ND
2014
17,2%
14,1%
13,9%
DJ-JF
2015
21,8%
8,9%
11,9%
8,2%
10,4%
-2,2%
4,9%
-4,8%
-9,7%
FM-MA AM-MJ
2015
2015
3,1%
-13,5%
-10,4%
JJ-JA
2015
2,3%
5,3%
1,8%
7,5%
-1,7%
-7,0%
-5,8%
AS-SO ON-ND
2015
2015
DJ-JF
2016
-11,8%
17,8%
15,8%
4,2%
-3,0%
15,3%
14,7%
7,0%
4,1%
0,6%
-9,5%
FM-MA AM-MJ
2016
2016
JJ-JA
2016
AS-SO ON-ND
2016
2016
51
LATVIA
Fast Moving Consumer Goods market dynamics
Volume change
4,1%
3,4%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
3,1%
2,0%
2,0%
1,0%
1,5%
1,1%
2,0%
0,0%
2,9%
2015
2016
4,1%
3,0%
1,9%
1,8%
1,2%
Q1 14
Q3 14
1,9%
3,4%
1,1%
0,9%
0,3%
0,4%
Q2 14
Nominal growth
3,7%
2,9%
-0,5%
2014
Unit value change
Q4 14
-0,4%
Q1 15
0,5%
1,1%
-0,6%
Q2 15
1,3%
0,2%
0,0%
0,2%
0,2%
1,0%
0,9%
0,1%
Q4 15
Q1 16
2,2%
2,7%
2,3%
3,1%
1,8%
0,2%
-0,1%
-0,4%
Q2 16
Q3 16
Q4 16
-1,1%
Q3 15
5,2%
-1,1%
Q1 17
52
LITHUANIA
Fast Moving Consumer Goods market dynamics
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Volume change
3,9%
2,1%
1,8%
3,2%
1,4%
1,7%
-0,4%
2,8%
-0,5%
-3,4%
2,4%
0,8%
3,9%
2,2%
1,7%
Unit value change
Nominal growth
2,4%
5,4%
4,4%
1,7%
2,6%
0,9%
1,9%
-1,0%
1,0%
1,9%
-0,9%
1,8%
1,4%
1,7%
1,9%
0,4%
-0,2%
5,3%
2,8%
-0,2%
-3,0%
3,5%
-7,3%
-3,8%
2014
2015
2016
Q2 14
Q3 14
Q4 14
Q1 15
Q2 15
Q3 15
Q4 15
Q1 16
Q2 16
Q3 16
Historical data has been changed as there is a change in Total Country selection from 2014 onwards
3,0%
5,5%
-6,1%
-3,1%
-3,4%
-8,9%
Q4 16
Q1 17
53
MONTENEGRO
Fast Moving Consumer Goods market dynamics
Volume change
1,6%
0,4%
-5,9%
-5,5%
0,9%
2,2%
-3,1%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
-20,5%
2,4%
-5,6%
-3,2%
3,3%
3,6%
0,9%
-16,5%
-30,6%
2016
1,5%
-13,9%
-14,3%
-12,5%
Nominal growth
1,2%
-11,1%
-9,9%
0,3%
-6,1%
-5,8%
-0,3%
-0,4%
-0,7%
-0,1%
2,7%
2,9%
5,7%
2,3%
3,4%
-3,5%
0,7%
4,3%
-34,4%
-30,8%
2015
2,5%
-16,8%
-19,9%
-18,8%
2014
Unit value change
-29,7%
Dec-Apr Apr-Aug Aug-Dec Dec-Apr Apr-Aug Aug-Dec Dec-Apr Apr-Aug Aug-Dec Dec-Apr Apr-Aug Aug-Dec
13
13
13
14
14
14
15
15
15
16
16
16
54
ROMANIA
Fast Moving Consumer Goods market dynamics
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
Volume change
Unit value change
Nominal growth
8,4%
5,6%
8,1%
-0,3%
-0,8%
0,5%
2014
-2,5%
2015
10,8%
-2,4%
2016
1,5%
0,4%
-1,1%
-1,3%
-0,4%
-1,7%
1,6%
-1,2%
0,4%
4,2%
0,6%
3,6%
6,2%
8,9%
6,3%
12,2%
14,2%
7,5%
8,5%
10,9%
9,0%
0,1%
8,9%
-2,4%
-2,8%
-5,8%
-6,6%
Dec-Apr 14 Apr-Aug 14 Aug-Dec 14 Dec-Apr 15 Apr-Aug 15 Aug-Dec 15 Dec-Apr 16 Apr-Aug 16 Aug-Dec 16
Reworked data with all the major RMS categories included
except for: Cigarettes, Make-up & Incontinence, reduction of VAT from 24% to 9% for food categories. New chains integration.
55
RUSSIA
Fast Moving Consumer Goods market dynamics
Volume change
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
13,0%
8,7%
15,0%
10,3%
-1,6%
2014
-2,0%
2015
12,5%
12,0%
11,3%
Unit value change
12,5%
12,4%
Nominal growth
14,1%
9,1%
6,9%
12,1%
15,0%
14,7%
14,…
13,8%
14,0%
9,5%
6,1%
11,8%
8,3%
8,4%
-1,4%
1,1%
2016
0,4%
-3,1%
-3,5%
-1,9%
-1,5%
0,1%
-2,7%
7,2%
-1,2%
6,7%
7,0%
7,7%
7,6%
-0,9%
-0,7%
3,2%
6,9%
2,6%
6,8%
-3,8%
-4,3%
DJ/JF '15 FM/MA AM/MJ JJ/JA '15 AS/SO ON/ND DJ/JF '16 FM/MA AM/MJ JJ/JA '16 AS/SO ON/ND DJ/JF `17
'15
'15
'15
'15
'16
'16
'16
`16
56
SERBIA
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
15,7%
17,4%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
3,7%
2,7%
-5,4%
-2,7%
1,3%
0,9%
0,5%
-0,3%
4,0%
6,2%
14,0%
-1,7%
-7,8%
6,0%
4,3%
-4,1%
-10,2%
-10,6%
-6,3%
2,3%
-1,7%
-4,0%
-1,4%
1,4%
0,0%
1,4%
-0,4%
-1,7%
0,4%
-0,4%
0,9%
3,9%
1,7%
2,3%
4,4%
4,6%
-0,1%
4,2%
3,7%
0,6%
2,4%
-1,2%
3,6%
57
SLOVENIA
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Nominal growth
2,0%
3,1%
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
1,5%
0,7%
-1,6%
-0,8%
-0,5%
-2,1%
0,8%
-2,5%
-1,4%
-0,5%
0,1%
-2,6%
-2,0%
-3,2%
-0,6%
-2,7%
-4,6%
-1,1%
-4,3%
2014
2015
2016
0,6%
-4,5%
-1,0%
-1,0%
-1,2%
-0,9%
-2,0%
-1,4%
-2,4%
-1,0%
-0,7%
-1,8%
2,0%
2,5%
-0,5%
0,7%
-0,9%
0,0%
0,3%
-2,5%
-1,6%
-4,2%
-2,5%
-3,9%
Dec-Apr Apr-Aug Aug-Dec Dec-Apr Apr-Aug Aug-Dec Dec-Apr Apr-Aug Aug-Dec Dec-Apr Apr-Aug Aug-Dec
13
13
13
14
14
14
15
15
15
16
16
16
58
UKRAINE
Fast Moving Consumer Goods market dynamics
Volume change
Unit value change
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
28,7%
36,0%
11,3%
11,2%
0,1%
2014
27,8%
15,1%
16,1%
-1,0%
-7,3%
2015
Nominal growth
2016
21,6%
3,3%
18,3%
13,9%
3,1%
10,8%
16,9%
11,8%
8,0%
3,8%
7,0%
4,1%
2,9%
9,9%
18,5%
10,5%
-0,6%
-1,7%
29,2%
31,5%
26,9%
41,1%
36,8%
21,3%
27,7%
-1,5%
-9,6%
-9,9%
-6,4%
13,0%
11,4%
1,6%
11,6%
9,0%
2,6%
Dec-Apr Apr-Aug Aug-Dec Dec-Apr Apr-Aug Aug-Dec Dec-Apr Apr-Aug Aug-Dec Dec-Apr Apr-Aug Aug-Dec
13
13
13
14
14
14
15
15
15
16
16
16
59
APPENDIX
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
APPENDIX: GLOSSARY
•
Nominal value growth:
•
Copyright © 2017 The Nielsen Company. Confidential and proprietary.
•
Unit value growth (≈ ‘price’ change):
•
Percentage change in the average retail price per unit in the total basket of reported product categories
•
The unit of volume in the basket varies by category (e.g. litres, kilograms, tonnes, etc)
•
The change in average price per unit may result from:
•
•
Percentage change in value sales (expenditures) as measured by the total basket of reported product categories
•
Price changes of individual products
•
Change in the mix of purchased products; more or less expensive products, more or less promotions, etc.
•
Channel switching; more or less purchases in discount stores, or hypermarkets, or convenience outlets, etc.
•
Product or channel mix changes may be induced by price change or may just be the result of market dynamics.
The unit value growth reflects how consumers experience ‘cost of living’ in their actual grocery shopping behavior.
Volume growth:
•
Percentage change in purchased volume (quantity) of products
61
Copyright © 2017 The Nielsen Company. Confidential and proprietary.