Pictured above: Sales performance insights – 52 weeks to 22 Feb vs one year ago
Solid growth, but losing momentum vs fruit
In the latest 52 weeks to February 22nd, bananas registered positive retail sales growth when compared to the same time one year ago (dollar sales +4.4% and kilogram sales +1.8%). Despite this, banana sales lagged broader fruit market growth, signaling a relative loss of competitiveness and a need to re-ignite category momentum.
Inflation is driving banana growth
Increased prices have been the main driver of value growth for bananas this year, with price per kilogram rising by +4.9% compared to year ago. However, shoppers are also putting slightly more bananas in their baskets, with volume per trip increasing by +0.5% to an average 752g per shop – proof that when shoppers do buy bananas, they’re still happy to bunch up!
Banana demand has softened
Bananas face a challenge in consumption levels, with fewer households buying them and doing so less often compared to one year ago, while fresh fruit purchase frequency levels are growing. A focus on repeat purchasing for bananas will be critical to delivering sustainable, long-term growth.
Opportunities lie outside Major Supermarkets
Banana volume is dependent on the Major Supermarkets; however, Non-Majors and Greengrocers are outpacing Majors in volume (kilogram) growth this year, highlighting opportunities to expand in these channels.
Families highly engaged
Asian communities and families are leading the charge in banana sales within non-major channels, recording the strongest growth and gaining market share. Cultural ties to traditional dishes and the rise of healthy eating and smoothie bowl trends across social media have propelled bananas into the spotlight for these groups.