Pantry loading from start of coronavirus pandemic to affect data a year later
Nicotine volume was down 2.8% year-over-year for the two weeks ending on March 27, according to a report from Goldman Sachs Managing Director Bonnie Herzog. The negative volumes are expected to continue, the New York-based investment firm said.
“We expect volumes to turn more negative once we start to lap some of the more pronounced effects of COVID (i.e., pantry-loading) from last year,” Herzog said.
Here’s a breakdown of what’s happening in tobacco segments in the United States (growth is for the two weeks ending on March 27 compared to the prior year unless otherwise stated):
- Cigarettes: While all channel cigarette dollar sales were up 2.7%, volume sales were down 4.3%. Several cigarette makers have recently increased priced packs. Richmond, Va.-based Altria increased its cigarette prices 14 cents per pack in
Hannah Prokop – CSP Daily News – 2021-04-07.
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