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AvoIntel™ Q3 2023: A Rollercoaster Quarter

U.S. Avocado Industry Update
Avocados proved to be predictably unpredictable in calendar Q3 as uncertainty around supply and sizing caused retail prices to spike, albeit briefly. In a matter of weeks, retail price per each climbed nearly 20% from $1.05 in mid-June to $1.24 in mid-July. By the end of September, price had settled back down, averaging $1.06. (1)

The turbulence in the category resulted in slower, 2.5% volume growth in Q3 (vs. same quarter year ago) compared to growth rates of 15.5% in Q2 and 7.8% in Q1. Retail dollars stabilized, down just 5.6% - an improvement from double-digit declines in prior quarters. (1)

AvoIntel™ Category Insight
Executing promotions during times of instability can be difficult, but promotions are proving to be more important than ever as shoppers curb their discretionary spending. Connect with our team of specialists to help you design a custom promotion schedule and merchandising plan.

(1) Circana, Total U.S and regions. – MULO, Q1 = Jan - Mar 2023, Q2 = Apr - June 2023, Q3 = July - Sept 2023 vs. year ago

Source: Circana, Total U.S. — MULO, 13-weeks ending 10/1/2023

Source: Circana, Total U.S. — MULO, 13-weeks ending 10/1/2023

This blog content is for informational purposes only. Any recommendations included herein shall not be construed as a guarantee of future results. We make no representation or warranties, and expressly disclaim any representations or warranties, as to the validity, accuracy, or completeness of the information contained herein.