IGD published on 31 August 2022 an article summarising three key, current challenges for the food and consumer goods industry.
These issues include rising food price inflation of 12.7%, which has resulted in consumers cutting back their spending on food. Supply chain disruption is continuing, due to a number of factors, resulting in shortages of some food and groceries.
IGD research has shown that availability issues impacting the lowest-cost items are likely to lead to more meals being skipped. Labour shortages and low productivity, the product of EU Exit and COVID, are also being reported by food and consumer goods businesses. There are widespread shortages of people and difficulty recruiting for certain roles and overall productivity growth has remained persistently slow.