The winter remedies market is broken down into four categories cold treatments, cough liquids, cough/throat lozenges and decongestants and was worth £268m last year.
The value of the market has grown 13.2%, which is nearly seven times faster than in the previous 12 months. Growth has been driven by cold treatments and particularly decongestants, which have registered annual value growth rates of 17% and 19.7% respectively.
The reason for such growth is, in part, due to more cases of cold and flu last winter. During this time, 2% more British households bought into this market compared with the previous year, adding almost £20m in sales.
Another reason for the growth has been an increase in consumer spend, with the typical UK household spending £8.99 a year on winter remedies, 90p more than in the previous 12 months. The average price paid per pack has increased from £2.49 to £2.68 in the past year as there has been a trend towards premium brands. Sales of branded products, which account for 84.4% of the market, have grown 13.3% in value year-on-year, whereas own-label has grown by a more modest 12.6%. The 10 most expensive brands of winter remedy have grown faster than the market as a whole. Another factor adding to value growth has been a drop in promotional activity compared with last year.
The high street remains the preferred location for buying winter remedies, with Boots continuing to hold on to almost a quarter share of the entire market. Despite growing slightly behind the total market, it remains three percentage points ahead of closest rival Tesco.
Focus On Winter Remedies
The value of the market has grown 13.2%, which is nearly seven times faster than in the previous 12 months. Growth has been driven by cold treatments and particularly decongestants, which have registered annual value growth rates of 17% and 19.7% respectively.
The reason for such growth is, in part, due to more cases of cold and flu last winter. During this time, 2% more British households bought into this market compared with the previous year, adding almost £20m in sales.
Another reason for the growth has been an increase in consumer spend, with the typical UK household spending £8.99 a year on winter remedies, 90p more than in the previous 12 months. The average price paid per pack has increased from £2.49 to £2.68 in the past year as there has been a trend towards premium brands. Sales of branded products, which account for 84.4% of the market, have grown 13.3% in value year-on-year, whereas own-label has grown by a more modest 12.6%. The 10 most expensive brands of winter remedy have grown faster than the market as a whole. Another factor adding to value growth has been a drop in promotional activity compared with last year.
The high street remains the preferred location for buying winter remedies, with Boots continuing to hold on to almost a quarter share of the entire market. Despite growing slightly behind the total market, it remains three percentage points ahead of closest rival Tesco.
Focus On Winter Remedies
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