Survey of 100 manufacturers: Overall, a decrease of 11 points; 50% reported a reduction, especially for supermarkets.

There is a sense of relief in the face of price hikes by various consumer goods manufacturers. According to a survey conducted by Nikkei MJ between October and November on the price trends of key products and brands of food and daily necessities manufacturers, 51% of companies indicated an intention to raise prices in the next year, marking an 11-point decrease from the previous survey. While price increases are being passed on, sales volumes are decreasing. In terms of sales volumes by distribution channels, 50% of companies reported a decrease in sales to supermarkets.

The survey on next year’s pricing intentions revealed a significant drop, with 51% of companies considering price increases, down over 24 points since the initial March-April survey. Specifically, 22% planned increases, a 14-point decrease. Conversely, companies with no intention to change prices rose to 22%, and those considering reductions increased to 5%. In the past three months, 42% of companies raised prices, while 59% maintained prices. The food industry, having implemented price hikes over the past two years, showed a decline to 48% in the intention to raise prices for the next year. Consumer resistance to hikes is evident, with 56% reporting decreased sales for products with price increases since 2021. Kikkoman’s President, Shozo Nakano, expressed concerns about decreased quantity and sales not meeting expectations despite intermittent price hikes in April and August.