June 5, 2020
CONSUMER SPENDING TRACKER FOR MEASURED CHANNELS
COVID-19 Impact
France, Germany, Greece, Italy,
Netherlands, New Zealand, Spain, UK, U.S.
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 2
Executive Summary
• As more countries in Europe and the United States begin to loosen COVID-19 restrictions, consumer spend
patterns remain mostly unchanged – this is reflected in consumer purchases in France, Germany, Greece,
Italy, Netherlands, New Zealand, Spain, UK and the U.S.
• In most geographies, sales remain elevated for edible categories, while demand for nonedible products vary
across countries, e.g., growth for paper products remains high in the U.S., but less so elsewhere, while Beauty
is strong in Netherlands and New Zealand, but declining in other countries.
• E-commerce continues to show strong growth over the last year in the U.S., Italy, France and Spain. After share
shifted more to e-commerce in the initial stages of the pandemic, it has remained at a steady elevated level.
• In the U.S., consumers continue to make larger more pantry stocking trips than a year ago. At the same time,
consumers have relaxed trip frequency slightly, starting to return to small trips vs. prior weeks of the pandemic.
• Loosened restrictions in some areas are having very marginal impact. New Zealand exhibits a softer growth
level of ~10% (vs. 20%) following wider reopening measures. Meanwhile, U.S. states that reopened earlier have
marginally softer trends in non-beverage edible categories than the rest of the U.S.
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 3
Document Contents
• Market Context and Conditions
• Consumer Spending Results by
Category, Market and Channel
• Deep Dive:
– E-Commerce Results in the U.S.,
Italy, France and Spain
– Shopping Behavior in the U.S.
– Impact of Loosening Restrictions
in the U.S. and New Zealand
• Appendix
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 4
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 5
Countries are at Different Points in the Crisis and are Dealing
With Different Levels of Infection During this Analysis Period
Cumulative # of Confirmed Cases as of 6.1.2020
Total Past 24 hrs Deaths
239,801 201 29,045
1,757,522 23,482 103,544
274,766 1,936 38,489
1,154 - 22
46,422 185 5,956
181,815 333 8,511
148,524 88 28,746
233,019 355 33,415
2,917 2 175
Cases Confirmed
Source: World Health Organization
2,000,000
1,000,000
0
3,000,000
May 3
Apr
26
France
Mar
22
Mar
1
Mar
8
Mar
15
Apr
5
Apr
12
Jun 1
Germany
NZ
Apr
19
Greece
10-M
ay
Spain
U.S.M
ar
29
UK
Italy
17-M
ay
24-M
ay
U.S. | Mar 21
"Shelter in Place"
orders for CA, CT, IL,
NJ, & NY
Germany | Mar 15
Borders to
neighboring countries
closed;
all schools closed 2
days before
Italy| Apr 14
Begins to open up small
stores
U.S. | Mar 16Many schools,
restaurants, businesses
close in impacted
areas
UK/NL/NZ | Mar 23
Non-essential
businesses close
Netherlands
France | Mar 13
Ban gatherings
of 100+ people
U.S. | Mar 11
Europe travel ban
Italy | Mar 9
All non-
essential
activities
shut down
Germany | Mar 22
National restrictions
on activities
US| Apr 27
Some States to open up
Restaurants at limited
capacity
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 6
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 7
Markets are Reaching Stable State of ~10% Growth;
Future Shifts will Likely be Driven by Changing Regulations
Week Ending February 9 – May 24, 2020
Value Sales % Change vs. Year Ago
Source: IRI POS Data Ending May 24, 2020
7%-21%
9%
70%
10%
12%13%21%
10%3%
96%
-29%
7%
3/152/23 5/242/9 2/16 3/1 3/223/8 3/29 4/5
50%
5/104/12 4/19 4/26
75%
5/3 5/17-50%
-25%
0%
25%
100%
11%
Netherlands
Germany
UK
U.S.
NZ
Spain
Italy
Greece
France
Stockpiling begins
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 8
Edible Has Stabilized at a Higher Growth Rate
Than Nonedible Due to Replenishment
Nonedible Edible
-1%
-8%-5%
8%5%
9%
14%
-21% -22%
50%
14%
-25%
50%
0%
25%
4 Weeks
Ending
2/23
4 Weeks
Ending
3/22
4 Weeks
Ending
1/26
4 Weeks
Ending
4/19
4 Weeks
Ending
5/17
US
Greece
UK
NZ
Italy
France
Germany
Spain
Netherlands
Pre- COVID-19 Stockpile Replenishment
YTD Chg.vs. YA
17.3%
19.2%
10.4%
13.9%
3.5%
2.7%
5.2%
4.0%
-8.7%
11%9%
14%
20%
13%
20%
16%18%
3%0%
-25%
25%
50%
4 Weeks
Ending
2/23
4 Weeks
Ending
3/22
4 Weeks
Ending
1/26
4 Weeks
Ending
4/19
4 Weeks
Ending
5/17
US
Germany
NZ
Spain
UK
Italy
Netherlands
France
Greece
YTD Chg.vs. YA
13.7%
16.7%
16.8%
13.3%
11.7%
7.3%
9.1%
8.6%
13.3%
Pre- COVID-19 Stockpile Replenishment
Note: YTD Week Ending 1/5/20-5/24/20 unless noted; France YTD WE 1/12/20-5/17/20; Greece YTD WE thru 5/17/20; Germany YTD WE 1/19/20-5/24/20; Spain YTD WE 2/9/20-5/24/20
Source: IRI POS Data Ending May 17, 2020
4 Weeks Ending January 26 – May 17, 2020
Value Sales % Change vs. Year Ago
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 9
Italy France Germany Netherlands NZ UK U.S. Spain Greece
TOTAL STORE 8.4% 6.5% 9.9% 15.6% 17.1% 10.9% 17.4% 9.3% 6.0%
Total
NONEDIBLE-1.0% -8.2% -4.9% 13.6% 7.5% 5.1% 9.5% -22.2% 13.5%
Total EDIBLE 10.7% 9.5% 14.4% 15.9% 19.6% 12.8% 19.9% 17.8% 3.1%
Paper Products 1.2% -3.4% -17.7% 6.3% -12.6% -5.8% 23.4% -0.7% -9.0%
Home Care 17.3% 7.1% -1.1% 12.0% 11.2% 8.4% 21.1% 9.2% 7.1%
OTC Healthcare 217.4% 43.3% -5.9% 0.0% -14.2% -5.1% -4.0% -24.2% 39.4%
Personal Care 0.8% -22.3% -11.9% 32.4% 10.7% 7.1% 8.3% -33.9% 4.0%
Pet Food + Care -0.7% -3.4% 0.9% 0.0% 6.3% -4.8% 1.0% -2.4% 1.2%
Gen Merchandise -26.1% 18.5% 16.0% 22.1% 9.3% 20.8% -27.7% 25.3%
Cosmetics -32.9% -50.7% -1.0% 29.7% 41.2% -8.1% -8.0% -74.1% -5.6%
Beverage 7.9% -1.1% 8.5% 12.4% 13.7% 4.1% 8.5% 6.6% 0.3%
Packaged Food 10.9% 10.6% 13.7% 11.6% 12.9% 17.3% 19.4% 18.5% 0.4%
Alcohol 16.5% 9.7% 10.8% 30.3% 38.6% 29.1% 32.9% 34.3% -0.6%
Baby Food + Care -17.7% -12.1% -18.7% -11.4% -12.0% -14.3% -5.1% -26.6% -14.8%
Dairy 18.7% 13.4% 16.1% 12.1% 17.0% 20.1% 27.8% 14.4% 12.3%
Frozen Foods 33.4% 23.2% 23.5% 30.3% 41.0% 29.2% 37.7% 31.6% 17.1%
Fresh Foods 5.1% 9.2% 26.9% 4.4% 18.8% 4.5% 17.5% 19.5% 19.7%
LEGEND
Edible Segment Trends are Mostly Consistent Across
Countries, While Demand for Nonedible Segment Varies
% Change Most Recent
Quad Week vs. Year Ago,
Based on Local Currency
50%+
20% to 50%
10% to 20%
0% to 5%
-20% to 0%
5% to 10%
<-20%
Note: Exact product categorization varies slightly by country. Source: IRI POS data 4 Weeks Ending May 17, 2020 vs year ago
ED
IBLE
NO
NE
DIB
LE
Addition of COVID-19 related health items,
such as masks increasing OTC growth
in some countries
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 10
OTC Healthcare, Frozen Foods, and Dairy
Remain the Fastest Growing SegmentsItaly
Nonedible Edible
Note: Segments defined to evaluate representative companies. Source: IRI POS data Ending May 17, 2020
1%
17%
-1%
-26%
-33%
0%
-50%
50%
250%
157% 217%55%
157%
OTC Healthcare
Pet Food + Care
Personal Care
Home Care
Paper Products
General Merch.
Cosmetics
8%11%16%
-18%
19%
32%33%
5%0%
-50%
25%
-25%
50%
4 Weeks
Ending
02-23-20
4 Weeks
Ending
01-26-20
4 Weeks
Ending
03-22-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
Frozen Foods
Beverage
Alcohol
Dairy
Packaged Food
Fresh Foods
Baby Food + Care
Stockpile
4 Weeks
Ending
03-22-20
4 Weeks
Ending
01-26-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
Stockpile
4 Week Periods Ending January 26 – May 17, 2020
€ Sales % Change vs. Year AgoItaly Has Codified Additional OTC Health Products Related
to COVID-19, Including Masks and Related Personal
Appliances, Upsizing the Category vs. Previous Releases
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 11
Nonedible Edible
Sales Across Nonedible is Decelerating Other Than
COVID-19 Related Items; Edible Growth Trends Continue
4 Week Periods Ending January 26 – May 17, 2020
€ Sales % Change vs. Year Ago
France
Note: Segments defined to evaluate representative companies. Source: IRI POS Data Ending May 17, 2020
-50% -50%
59%
-3%
7%
43%
-22%
-3%
-51%
-25%
0%
75%
25%
50%
OTC Healthcare
Home Care
Pet Food + Care
Paper Products
Personal Care
Cosmetics
-1%
33%
11%10%
-12%
13%23%
9%
75%
-25%
0%
25%
50%
Frozen Foods
Fresh Foods
Dairy
Beverage
Alcohol
Packaged Food
Baby Food + Care
OTC Growth Driven by
Masks and Hand Sanitizer
4 Weeks
Ending
03-22-20
3 Weeks
Ending
01-26-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
4 Weeks
Ending
02-23-20
3 Weeks
Ending
01-26-20
4 Weeks
Ending
03-22-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
Stockpile Stockpile
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 12
Nonedible Edible
Edible Sales Look to be Stabilizing at Elevated
Levels; Nonedible Remains in Decline
4 Week Periods Ending January 26 – May 17, 2020
€ Sales % Change vs. Year Ago
Note: Segments defined to evaluate representative companies. Source: IRI POS Data Ending May 17, 2020
Germany
79%
-18%
-1%
-6%-12%
1%
19%
-1%
General Merch.
Cosmetics
Pet Food + Care
Home Care
OTC Healthcare
Personal Care
Paper Products
8%
42%
14%11%
-30%
-19%
16%23%27%
Fresh Foods
Dairy
Packaged Food
Frozen Foods
Alcohol
Beverage
Baby Food + Care
4 Weeks
Ending
03-22-20
2 Weeks
Ending
01-26-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
4 Weeks
Ending
02-23-20
2 Weeks
Ending
01-26-20
4 Weeks
Ending
03-22-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
Stockpile Stockpile
75%
-25%
25%
0%
50%
0%
-25%
25%
50%
75%
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 13
Nonedible Edible
Edible Sales Remain Elevated Post Stockpiling, While Most
Nonedible Categories Have Returned to Normal or are Declining
4 Week Periods Ending January 26 – May 17, 2020
£ Sales % Change vs. Year Ago
Note: Segments defined to evaluate representative companies. Source: IRI POS Data Ending May 17, 2020
4 Weeks
Ending
03-22-20
4 Weeks
Ending
01-26-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
01-26-20
4 Weeks
Ending
03-22-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
Stockpile Stockpile
UnitedKingdom
75%
-6%
8%
-5%
7%-5%
9%
-8%
75%
-25%
25%
0%
50%General Merch.
Home Care
OTC Healthcare
Personal Care
Cosmetics
Pet Food + Care
Paper Products
4%
17%
29%
49%
-14%
20%
29%
4%0%
-25%
25%
50%
75%
2%
Alcohol
Frozen Foods
Fresh Foods
Packaged Food
Dairy
Beverage
Baby Food + Care
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 14
Nonedible Edible
Sales Trends Continued Over the Last Few Weeks
Across Segments in Both Edible and Nonedible
4 Week Periods Ending January 26 – May 17, 2020
$ Sales % Change vs. Year Ago
Note: Segments defined to evaluate representative companies; Hair Care has been realigned from cosmetics to personal care. Source: IRI POS Data Ending May 17, 2020
4 Weeks
Ending
03-22-20
4 Weeks
Ending
01-26-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
01-26-20
4 Weeks
Ending
03-22-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
Stockpile Stockpile
UnitedStates
96%
23%21%
-4%
8%1%
21%
-8%
-25%
0%
25%
50%
100%
75%
Pet Food + Care
Paper Products
General Merch.
Home Care
Personal Care
OTC Healthcare
Cosmetics
8%
19%
33%
-5%
28%
44%
38%
17%
100%
50%
-25%
0%
25%
75%
Frozen Foods
Alcohol
Dairy
Fresh Foods
Packaged Food
Beverage
Baby Food + Care
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 15
Grocery Continues to Outpace MULO Since Peak Stockpiling,
While Convenience Sales Slowly Grow Back to Normal
Week Ending February 9 – May 17, 2020
$ Sales % Change vs. Year Ago
13%16%
19%
18% 7% 15%4% 4% 3% 12%
90%
77%
28% 34%31%
18%
36%
27% 27%23%
4% 1%
-6% -5%
5%0%
25%
75%
4/123/15 5/33/22 3/29
100%
4/5 4/19 5/104/26 5/172/9 3/1
50%
2/232/16 3/8
1% 6%
5%
19%
69%64%
-1%2%
19%
5%
23%
-9%
Stockpiling begins
UnitedStates
Source: IRI POS data WE 5/17/20 / Note: MULO includes large format (Grocery, Mass, WM, Club xCostco, Dollar, DeCA); C-Store includes both chains and independent, does not include fuel sales
MULO
Convenience
Grocery
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 16
Nonedible Edible
Topline Private Label Share Increased Post-COVID-19;
Nonedible Was Impacted More, But Slowed in Last Few Weeks
4 Week Periods Ending January 26 – May 17, 2020
PL $ Share & Share Point Change vs. YA
19.1 19.2 19.6 20.1 19.1
0.6 0.71.1
1.5
0.4
-2
0
2
0
20
40
4 Weeks Ending 04-
19-20
4 Weeks Ending 01-
26-20
PL Share
4 Weeks Ending 03-
22-20
Pt Chg vs. YA
4 Weeks Ending 02-
23-20
4 Weeks Ending 05-
17-20
Share Change Share
19.4 18.9 18.9 18.7 18.8
0.3 0.3 0.20.4 0.3
-2
0
2
0
20
40
4 Weeks Ending 03-
22-20
4 Weeks Ending 02-
23-20
4 Weeks Ending 01-
26-20
Pt Chg vs. YAPL Share
4 Weeks Ending 04-
19-20
4 Weeks Ending 05-
17-20
Share Change Share
UnitedStates
Source: IRI POS data Ending May 17, 2020 for MULO (Multi-Outlet excluding Convenience)
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 17
Nonedible Edible
Sales Across Categories Stabilize; Alcohol is Accelerating
4 Week Periods Ending Jan 26 – May 17, 2020
€ Sales % Change vs. Year Ago
Note: Segments defined to evaluate representative companies. Source: IRI POS Data Ending May 17, 2020
Spain
68%
-1%9%
-24%
-34%
-2%
-28%
-74%
-25%
-75%
50%
-50%
0%
25%
75%
4 Weeks
Ending
05-17-20
3 Weeks
Ending
02-23-20
4 Weeks
Ending
03-22-20
4 Weeks
Ending
04-19-20
Home Care
OTC Healthcare
Paper Products
Pet Food + Care
General Merch.
Personal Care
Cosmetics
7%
19%
34%
-27%
14%
32%
19%
-75%
50%
-50%
75%
0%
-25%
25%
3 Weeks
Ending
02-23-20
4 Weeks
Ending
03-22-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
Alcohol
Frozen Foods
Beverage
Fresh Foods
Dairy
Packaged Food
Baby Food + Care
StockpileStockpile
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 18
in U.S., Italy,
France & Spain
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 19
15k
3%
U.S. E-Commerce Sales Has Leveled Out
in the Second 4 Weeks Since COVID-19
Dollar % Change vs. YA, # COVID-19 Cases
0%
39%
16% 19%
33%
73% 75%
32%24%
52%
68% 71%
37%30%
65%
85% 85%
0%
20%
40%
60%
80%
100%
4 Weeks Ending
04-19-20
4 Weeks Ending
01-26-20
4 Weeks Ending
02-23-20
26%
56%
4 Weeks Ending
03-22-20
4 Weeks Ending
05-17-20
695k
1,432k
E-Com %
share of total16.2% 15.7% 14.7% 18.7% 19.4%
UnitedStates
Source: IRI eMarket Insights Model, based on 204 releasable eMarket Insights categories, In Store from Total MULO for same 204 categories. Case count from Worldometer as of May 17, 2020
In Store Online - Edible Only
Online Online - Nonedible Only
# COVID-19 Cases
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 20
Panic Buying in
Brick & Mortar
After Initial Panic Buying in Stores, Consumers Have Shifted, Held
a Significant Share of Post-COVID-19 CPG Spend to E-Commerce
Total E-Commerce Share of Omni-Channel
29.7% 29.6%27.1%
36.1% 36.8%
16.2% 15.7% 14.7%
18.7% 19.4%
7.8% 7.4% 7.0%9.1% 9.2%
4 Weeks Ending 01-26-20 4 Weeks Ending 02-23-20 4 Weeks Ending 03-22-20 4 Weeks Ending 05-17-204 Weeks Ending 04-19-20
UnitedStates
Source: IRI eMarket Insights Model, based on 204 releasable eMarket Insights categories
Nonedible
Total
Edible
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 21
Nonedible Edible
E-Commerce Share Has Increased in Most CPG Areas
Except in Minimally Low Share Areas, Such as Fresh Foods
E-Commerce Share of Omni-Channel
Packaged Food
Baby Food+ Care
Beverage
Frozen Foods
Fresh Foods
Dairy
Cosmetics
Pet Food+ Care
Personal Care
OTC Healthcare
General Merch
Home Care
Paper Products
Source: IRI eMarket Insights Model, based on 204 releasable eMarket Insights categories
40%
53%
37%
43%
25%
31%
12%14%
39%
45%
26%
36%
17%
21%
4 Weeks
Ending
03-22-20
4 Weeks
Ending
05-17-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
01-26-20
12% 13%
8% 10%9% 11%
5% 5%
3%4%
30%
38%
4 Weeks
Ending
01-26-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
05-17-20
4 Weeks
Ending
03-22-20
UnitedStates
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 22
Across CPG, Home Shipment Has Outpaced Growth
of Other Types of E-Commerce in the Last 4 Weeks
Share of CPG E-Commerce Dollar Sales by Fulfillment Type
77.7% 77.8% 77.1% 77.9% 79.4%
15.3% 15.7% 15.8% 15.3% 14.2%
7.0% 6.6% 7.1% 6.9% 6.5%
4 Weeks Ending 05-17-204 Weeks Ending 04-19-204 Weeks Ending 01-26-20 4 Weeks Ending 02-23-20
Delivery
Home Shipment
4 Weeks Ending 03-22-20
Click & Collect
UnitedStates
Source: IRI eMarket Insights, based on 204 releasable eMarket Insights categories and retailers where fulfillment can be determined.
Note: Delivery is delivery to home within a time slot, e.g., Peapod, Instacart, Amazon Fresh. Click & Collect is pick up in store or parking lot. Home Shipment is delivery in box via third party delivery company (UPS, FedEx), e.g., Amazon.com.
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 23
Nonedible Edible
Note: Delivery is delivery to home within a time slot, e.g., Peapod, Instacart, Amazon Fresh. Click & Collect Is pick up in store or parking lot. Home Shipment is delivery in box via third party delivery company (UPS, FedEx), e.g., Amazon.com.
Home Shipment Has Picked Up Slightly
More For Edible in Recent Weeks
Share of CPG E-Commerce Dollar Sales by Fulfillment Type
92.2% 92.6% 91.0% 92.6% 93.2%
5.7% 5.5% 6.5% 5.2%2.1% 1.9% 2.5% 2.3% 2.0%
4 Weeks Ending
04-19-20
4 Weeks Ending
01-26-20
4 Weeks Ending
03-22-20
Click &Collect
4 Weeks Ending
02-23-20
4.8%
4 Weeks Ending
05-17-20
HomeShipment
Delivery
43.3% 42.4% 44.1% 45.4% 46.3%
38.0% 40.0% 38.0% 37.5% 36.6%
18.6% 17.7% 17.8% 17.1% 17.1%
4 Weeks Ending
05-17-20
4 Weeks Ending
04-19-20
4 Weeks Ending
03-22-20
4 Weeks Ending
01-26-20
4 Weeks Ending
02-23-20
HomeShipment
Delivery
UnitedStates
Source: IRI eMarket Insights, based on 204 releasable eMarket Insights categories and retailers where fulfillment can be determined.
Click &Collect
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 24
Italy E-Commerce Growth Has Leveled Out With
Share of Sales Remaining at 2x Earlier Levels
CPG E-Commerce Sales % Change vs. Year Ago
# COVID-19 Cases
4% 11% 18% 17% 19% 17% 14%-15%
13% 11% 19% 10% 9%
292%
180% 180% 174%
74%
232%
376%438%
476%412%
659%
507%553% 546%
263%
132% 149% 152% 148%
-200%
0%
200%
400%
600%
800%
1-Mar
43%
16-Feb 8-Mar
225K
12-Apr23-Feb
30%
249%
15-Mar 22-Mar 29-Mar 5-Apr
486%
19-Apr 26-Apr
160%
3-May 10-May
107%
24-May
0K0K 2K 7K
25K
176K
54K
92K
125K
152K
218K
195K209K
23%
535%
638%
229K
17-MayeCom %
share of total1.1% 1.0% 1.1% 1.2% 1.2% 1.5% 1.8% 1.8% 1.6% 2.1% 2.2% 1.7% 1.9% 2.0% 2.0%
Italy
Source: IRI Panel online, Dates reflect Monday, 17 February through Sunday 24 May, 2020. Worldometer as of 6/2/20.
In-Store
E-Commerce Home Delivery / Shipment
COVID-19 Cases (k)
Click & Collect
Note: 1. eCommerce Includes select eCommerce retailers including Amazon, other local eRetailers and the eCommerce operations of traditional Brick & Mortar retailers Home delivery / shipment: goods delivered at doorstep of purchaser, Click & Collect: purchaser submit order online and collects in store, accounts for 9% of total eCommerce.
2. Category data reflected in the chart is for categories that are sold both in-store and through eCommerce; excluding general merchandising categories
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 25
6%
In France, Ecommerce Has Remained at an Elevated
Share of CPG Sales for the Last Eight Weeks
CPG E-Commerce Sales % Change vs. Year Ago
# COVID-19 Cases
1% 1%
9%
40%
31%
2% 2%11%
-6%
4%
-8%
2% 6%13%
5%14%
62%
75%
65%
77%
96%88%
84%78%
70%
-25
0
25
50
75
100
16-Feb 3-May
122.9k
15-Mar
1.1k
1-Mar 22-Mar8-Mar 19-Apr23-Feb
6%
29-Mar 26-Apr12-Apr 10-May 17-May
67.8k
30%
129.5k
92.8k
53%
0.1k 5.4k14.3k
37.1k
110.7k
137.0k 140.0k
5-Apr
eCom %
share of total6.8% 6.5% 7.4% 8.0% 7.7% 8.5% 10.7% 11.2% 10.5% 10.7% 10.8% 10.8% 10.3% 10.2%
France
Note: eCommerce includes Click & Collect, some Home Delivery providers (Home Delivery = small portion of sales). Excludes Amazon / Source: IRI POS Data WE 5/3/20. Worldometer as of 6/2/20
In-Store
E-Commerce
COVID-19 Cases (k)
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 26
Similarly In Spain, E-Commerce Sales Accelerated
Post COVID-19 Stock Up and Remain at an Elevated Level
CPG Sales % Change vs. Year Ago
# COVID-19 Cases
11%
-2% -5%
79%
9% 11% 18% 10% 3%14% 10% 10%
49%
20%4%
22% 54% 33%51%
76%
215%
101%112%
129%116%
-50
0
50
100
150
200
250
16-Feb
4%
10-May23-Feb
24.9k
1-Mar 8-Mar 15-Mar
191.7k
7%
22-Mar
84%
11%
5-Apr
0.6k
12-Apr29-Mar 19-Apr
69%72.2k
26-Apr 24-May3-May 17-May
230.7k
0.0k
0.0k 0.0k 7.8k
124.7k
161.9k
219.8k 216.6k 223.6k235.3k
Easter
Peak Stock-
Up Week
eCom %
share of total1.9% 1.9% 2.1% 2.2% 1.6% 2.1% 2.5% 3.1% 2.8% 3.2% 2.7% 3.3% 3.5% 3.6% 3.3%
Spain
Note: eCommerce includes Brick & mortar retailers that deliver online orders to customer homes and Amazon / Source: IRI POS Data WE 5/24/20. Worldometer as of 6/2/20
In-Store
E-Commerce
COVID-19 Cases (k)
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 27
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 28
Dollar Sales
% Chg. vs. YA
Trips per Buyer
% chg. vs. YA
Buyers
% chg. vs. YA
Units per Trip
% chg. vs. YA
Price Per Unit
% chg. vs. YA
1%4%
36%
16%
22%
4 WE
01/26/20
4 WE
02/23/20
4 WE
04/19/20
4 WE
03/22/20
4 WE
05/17/20
Actuals ($B)
1%5%
25%
-4%
3%
4 WE
04/19/20
4 WE
01/26/20
4 WE
05/17/20
4 WE
02/23/20
4 WE
03/22/2015.4 15.8 19.2 15.1 15.8
Actuals
Actuals
Actuals (M)
Actuals
124.5 124.9 124.9 125.0 125.0
9.5 9.3 10.2 11.0 10.3$3.42 $3.41 $3.46 $3.50 $3.62
0% 1% 1% 1% 1%
4 WE
05/17/20
4 WE
02/23/20
4 WE
01/26/20
4 WE
04/19/20
4 WE
03/22/20
-3% -3%
6%
15%11%
4 WE
02/23/20
4 WE
01/26/20
4 WE
05/17/20
4 WE
03/22/20
4 WE
04/19/20
2%2% 1%
4%6%
4 WE
04/19/20
4 WE
01/26/20
4 WE
05/17/20
4 WE
02/23/20
4 WE
03/22/20
$62.4 $62.8 $84.4 $72.6 $73.9
Over the Last Four Week Period, Consumers Continue
to Make Larger Trips and Are Relaxing Trip Frequency
Total U.S. All Outlets CPG Consumer Purchasing Dynamics
UnitedStates
Source: IRI National Consumer Panel 4 WE 5/17/20. All Outlets.
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 29
Pantry Stocking Remains Elevated, But Consumers Increased
Smaller Trips Slightly vs. the Prior Four Weeks of the Pandemic
80
(17%)
71
(14%)
76
(15%)75
(16%)
74
(16%)
254
(53%)
4 WE
01/26/20
80
(16%)
266
(54%)
4 WE
02/23/20
76
(15%)
95
(16%)
94
(16%)
98
(16%)
312
(52%)
4 WE
03/22/20
71
(15%)
77
(16%)
232
(49%)
4 WE
04/19/20
Fill In
88
(18%)
87
(17%)
245
(49%)
4 WE
05/17/20
Pantry Stocking
Special Purpose
479
Quick Trip
493
599
472495
89
(19%)
Fill In
3.5
(22%)3.4
(21%)Quick Trip
6.1
(39%)
Special Purpose2.9
(18%)
3.3
(21%)
6.1
(39%)
4.2
(20%)
4 WE
01/26/20
3.2
(20%)
3.1
(17%)
4.3
(20%)2.9
(18%)
4 WE
02/23/20
15.6
8.9
(42%)
3.7
(18%)
4 WE
03/22/20
8.5
(47%)
3.2
(18%)
15.73.3
(18%)
3.5
(19%)
4 WE
04/19/20
8.4
(45%)
21.1
3.3
(18%)
3.4
(18%)
4 WE
05/17/20
Pantry Stocking
18.1 18.5
Stockpile Stockpile
UnitedStates
Source: IRI National Consumer Panel 4 WE 5/17/20. All Outlets.
AVG. WEEKLY TRIP COUNT BY TYPE (M) AVG. WEEKLY DOLLAR SALES ($B) BY TRIP TYPE
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 30
-2% -2% 8% 25% 23%
Edible Continues to Drive Larger Baskets, While
Nonedible Basket Size is Similar to Pre-COVID-19
% Change vs YA
% Change vs YA
2.3 2.33.0
2.4 2.5
4 WE
05/17/20
4 WE
04/19/20
4 WE
01/26/20
4 WE
02/23/20
4 WE
03/22/20
$21.22 $20.36 $21.65 $21.09 $21.43
4 WE
01/26/20
4 WE
02/23/20
4 WE
03/22/20
4 WE
05/17/20
4 WE
04/19/20
3.7 3.6 3.8 3.6 3.5
4 WE
05/17/20
4 WE
04/19/20
4 WE
01/26/20
4 WE
02/23/20
4 WE
03/22/20
3.0 3.13.7
3.0 3.1
4 WE
01/26/20
4 WE
03/22/20
4 WE
02/23/20
4 WE
04/19/20
4 WE
05/17/20
9.2 9.0 9.9 10.8 10.2
4 WE
01/26/20
4 WE
02/23/20
4 WE
05/17/20
4 WE
04/19/20
4 WE
03/22/20
$25.85 $25.55 $28.36$32.11 $31.17
4 WE
04/19/20
4 WE
01/26/20
4 WE
03/22/20
4 WE
02/23/20
4 WE
05/17/20
-4% -3% 7% 17% 14%2% 6% 27% -2% 4%
3% 0% 4% 3% 3%-1% 1% 24% -1% 8% 0% -2% 3% 0% -2%
UnitedStates
Note: Pre Stock-Up 3/1-3/8, Peak Stock-Up 3/15-3/22, Post Stock-Up 3/29-4/19 / Source: IRI National Consumer Panel 4 WE 5/17/20. All Outlets.
AVERAGE WEEKLY
TRIPS PER BUYER
AVERAGE WEEKLY
DOLLARS PER TRIP
AVERAGE WEEKLY
UNITS PER TRIP
NONEDIBLE
EDIBLE
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 31
Packaged Food’s Share of Basket Has
Come Down Since Peak-COVID-19 Levels
Average Basket
2.5 (8%)
2.5 (7%)
1.3 (4%)
2.2
(7%)
3.0 (9%) 7.0 (22%)2.1
(6%)
4 WE 04/19/20
0.8 (3%)
0.7 (2%)
2.5 (8%) 3.0 (9%)4 WE 01/26/20
1.3
(4%)
2.4
(8%)
1.4
(5%)
1.9
(6%)
8.2 (24%)
3.0 (9%) 7.3 (23%)
1.9
(5%)
2.4 (8%) 3.0 (9%)4 WE 02/23/20
2.7
(8%)
2.3
(6%)
2.3
(7%)2.9 (8%)
0.3 (1%)
3.2 (9%)
0.9 (2%)
4 WE 03/22/201.4
(4%)
2.1
(6%)
1.2 (3%)
1.4
(4%)
2.3
(6%)
$36.7
2.1
(6%)
0.3 (1%)
3.5 (9%) 9.2 (24%)2.8
(7%)
1.7
(5%)
0.7 (2%)
3.2 (8%) 3.3 (9%) $37.83.7 (10%)
0.8 (2%)
1.0 (3%)
2.6
(8%)
1.5 (4%) 0.8 (2%)
2.5
(7%)
1.5
(4%)
2.7
(7%)
2.3
(6%)
0.3 (1%)
8.1 (22%)3.0
(8%)
1.4
(4%)
2.9 (8%) 3.2 (9%) 3.6 (10%)
0.9 (3%)
4 WE 05/17/202.2
(6%)
2.0
(7%)
0.4 (1%)
2.3
(7%)
3.5 (10%)
2.5 (8%)
1.4
(4%)
0.4 (1%)
3.1 (9%)
1.6 (4%)
$31.09
$35.74
$34.7
+11%
+9%
-3%
Home Care
Paper Products
OTC Healthcare
Personal Care
Pet Food + Care Baby Food + Care
Alcohol
General Merch.
Cosmetics
Beverage Fresh Foods
Packaged Food Dairy
Frozen Foods
Nonedible Edible
Packaged Foods has
slightly declined over
the past four weeks
Source: IRI National Consumer Panel 4 weeks ending April 19, 2020. All Outlets.
UnitedStates
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 32
in the U.S. and
New Zealand
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 33
13% 28%21%
27%
10%4%
20%27%
96%
-1%
3%15%
5% 5%14% 17%
30%
32%27% 24% 21% 21%
13% 11%
50%
4/263/82/23 4/5
25%
3/1 3/29
0%
2/9 2/16 5/33/15
75%
5/17
100%
3/22 4/12 5/245/104/19
63%
4%4%
19%21%
27%
6%
30%
4%18%
5%
15%
9%
27%
11%
30%
11%19%
35%
3%
70%
3% 4%
6%
In New Zealand, CPG Sales Trends Slow Down
During Second Phase of Loosened Restrictions
Week Ending February 9 – May 24, 2020
$ Sales % Change vs. Year Ago
Stockpiling begins Level 3 RestrictLevel 4 Lockdown
Level 4 Lockdown From March 26
• Strict lockdown
Level 3 Restrict From April 28
• Can reconnect with close family
• Schools & workplaces reopened
but people should stay at home
unless not possible
• Businesses can open but not
interact with customers
Level 2 Reduce From May 14
• Can socialize in groups up to 10
• Businesses can open with safe
distancing practices
• Public venues open
• Safe to send kids to school
Level 2-3 RestrictionsLevel 2 Reduce
New Zealand
Note: Segments defined to evaluate representative companies / Source: IRI POS data Week Ending May 24, 2020
Total CPG
Nonedible
Edible
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 34
Nonedible Edible
-25%
13%
96%
18%
-13%
10%
21%
15%25%
0%
50%
75%
100%
125%
5/3 5/172/23 3/8 3/22 4/5 4/19
150%
175%
200%
7%
Most Edible Segments Decelerated From Previous Periods in New
Zealand, Nonedible Remain Steady With Exception of Cosmetics
Week Ending February 23 – May 17, 2020
$ Sales % Change vs. Year Ago
Stockpiling beginsStockpiling begins Restrictions loosened Restrictions loosened
199%
-9%
28%8%
-15%
6%
15%
5%
2/23
100%
3/8 5/34/19
150%
3/22 4/5 5/17
0%
25%
50%
75%
125%
175%
200%
-25%
5%
5/245/24
New Zealand
Note: Segments defined to evaluate representative companies. Source: IRI POS Data Week Ending May 10, 2020
Paper Products
OTC Healthcare
Home Care
Personal Care
Pet Food + Care
General Merchandise
Cosmetics Fresh Foods
Dairy
Beverage
Baby Food + Care
Frozen Foods
Packaged Food
Alcohol
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 35
Reopening Soon
Purchasing Behavior Tends to Remain Similar Across the U.S.
Even as States Begin to Loosen Restrictions and Open Restaurants UnitedStates
4 WE
1/26/20
4 WE
2/23/20
4 WE
3/22/20
4 WE
4/19/20
4 WE
5/17/20
Total U.S. 1% 3% 30% 11% 16%
Georgia1 -1% 1% 24% 14% 15%
Texas2 2% 3% 30% 10% 13%
Florida3 2% 3% 29% 8% 11%
$ Sales % Change vs. Year Ago
Stockpile
Massachusetts
Minnesota
Montana North Dakota
Idaho
Washington
Arizona
CaliforniaColorado
Nevada
New Mexico
Oregon
Utah
Wyoming
Arkansas
Iowa
Kansas Missouri
Nebraska
Oklahoma
South Dakota
LouisianaTexas
Connecticut
New Hampshire
Rhode Island
Vermont
Alabama
Florida
GeorgiaMississippi
South
Carolina
IllinoisIndiana
Kentucky
North
Carolina
Ohio
Tennessee
Virginia
Wisconsin
West
Virginia
Delaware
District of Columbia
Maryland
New Jersey
New York
Pennsylvania
Maine
Michigan
Alaska
Hawaii
Regional Reopening
Reopening
1. Georgia stay-at-home order was lifted on April 30th 2. Texas stay-at-home order was lifted on April 30th 3. Florida stay-at-home order was lifted on May 4th / Source: IRI, BCG Analysis
Shut Down or Restricted
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 36
Nonedible Edible
In Georgia, Trends Remained Mostly Consistent With Prior
COVID-19 Trends; Edible Didn’t Accelerate as Much as Total U.S.
4 Weeks Ending January 26 – May 17, 2020
$ Sales % Change vs. Year Ago
Note: Segments defined to evaluate representative companies; Hair Care has been realigned from cosmetics to personal care. Source: IRI POS Data Ending May 17, 2020
4 Weeks
Ending
03-22-20
4 Weeks
Ending
01-26-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
01-26-20
4 Weeks
Ending
03-22-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
Stockpiling Stockpiling
UnitedStates
Pet Food + Care
Paper Products
General Merch.
Home Care
Personal Care
OTC Healthcare
Cosmetics
In Total U.S., Paper Products Decelerated
in the Last 4 Weeks, While Other Nonedible
and Most Edible Categories Accelerated Slightly
90%
29%24%
0%
7%0%
22%
-7%
-25%
0%
25%
50%
75%
100%
2%
18%24%28%
43%37%
18%
100%
-25%
75%
50%
0%
25%
Frozen Foods
Dairy
Alcohol
Fresh Foods
Packaged Food
Beverage
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 37
Nonedible Edible
In Texas, Non-Beverage Edible Segments Did Not
Accelerate as Much as Total U.S. in Recent Weeks
4 Weeks Ending January 26 – May 17, 2020
$ Sales % Change vs. Year Ago
Note: Segments defined to evaluate representative companies; Hair Care has been realigned from cosmetics to personal care. Source: IRI POS Data Ending May 17, 2020
4 Weeks
Ending
03-22-20
4 Weeks
Ending
01-26-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
01-26-20
4 Weeks
Ending
03-22-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
Stockpiling Stockpiling
UnitedStates
-25%
0%
25%
50%
75%
100% 100%
-25%
75%
50%
0%
25%
92%
8%14%
-1%
8%1%
21%
-8%
Pet Food + Care
General Merch.
OTC Healthcare
Home Care
Personal Care
Paper Products
Cosmetics
10%12%
33%
24%
47%
29%
17%
Alcohol
Dairy
Frozen Foods
Fresh Foods
Packaged Food
Beverage
In Total U.S., Paper Products Decelerated
in the Last 4 Weeks, While Other Nonedible
and Most Edible Categories Accelerated Slightly
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 38
Nonedible Edible
Florida Also Exhibits Similar Trends
to Other Early Reopening States
4 Weeks Ending January 26 – May 17, 2020
$ Sales % Change vs. Year Ago
Note: Segments defined to evaluate representative companies; Hair Care has been realigned from cosmetics to personal care. Source: IRI POS Data Ending May 17, 2020
4 Weeks
Ending
03-22-20
4 Weeks
Ending
01-26-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
4 Weeks
Ending
02-23-20
4 Weeks
Ending
01-26-20
4 Weeks
Ending
03-22-20
4 Weeks
Ending
04-19-20
4 Weeks
Ending
05-17-20
Stockpiling Stockpiling
UnitedStates
-25%
0%
25%
50%
75%
100% 100%
-25%
75%
50%
0%
25%
83%
24%
15%
-9%
-2%-2%
15%
-17%
Paper Products
Home Care
Personal Care
General Merch.
Pet Food + Care
OTC Healthcare
Cosmetics
4%
15%
22%25%
45%
33%
16% Fresh Foods
Alcohol
Frozen Foods
Beverage
Dairy
Packaged Food
In Total U.S., Paper Products Decelerated
in the Last 4 Weeks, While Other Nonedible
and Most Edible Categories Accelerated Slightly
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 39
appendix
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 40
Data Methodology and Notes
IRI tracks POS data weekly (weeks end on Sundays) and has ~one week of required processing time (E-commerce
has ~2 weeks processing time). U.S. National Consumer Panel data is released monthly. Tracker will be released
every four weeks on Thursday / Friday as data is available; deep dives will be refreshed periodically.
U.S. Data• Represents transaction
POS database (accounts
for 80%+ of FMCG sales)
• Data collected in multi-
outlet + convenience
(MULOC) channels:
Grocery, Drug,
Convenience, Mass,
Walmart, Club, Dollar,
and DECA Stores
• Excludes Costco
Germany DataIncludes hypermarkets,
supermarkets, and
drug stores
Italy DataExcludes open air markets
estimated at 6% of total
FMCG sales
Netherlands DataData collected for
supermarket, including online
UK DataAggregated sales across
major grocery retailers
France DataData collected in
hypermarkets, supermarkets,
discount, convenience
stores and e-shopping
New Zealand Data• Represents grocery channel
• Point of sale data, accounting
for 100% of pre-packaged
grocery sales
SpainIncludes hypermarkets and
supermarkets >100M and
modern drug stores
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 41
Insights and Strategic
Guidance for Better Decisions
IRI’s Online Resources Include Real-Time
Updates and Weekly Reports Which Track
the Impact of the Virus on CPG and Retail
The IRI COVID-19 lmpact
Includes COVID-19 impact analyses, dashboards
and the latest thought leadership on supply chain,
consumer behavior, channel shifts for the U.S.
AND international markets
IRI CPG Economic Indicators Including the
IRI CPG Demand Index™, IRI CPG Supply
Index™ and IRI CPG Inflation Tracker™
Accessible through the insights portal
to track the daily impact of COVID-19.
This includes top selling and out-of-stock
categories across the country and
consumer sentiment on social media
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 42
The Latest COVID-19 Reports and Insights from IRI (click to see full report)
IRI COVID-19 IMPACT ASSESSMENT REPORTS LESSONS FROM THE GREAT RECESSIONTHE CHANGING SHAPE OF THE CPG DEMAND CURVE
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 43
IRI CPG Demand Index™
The IRI CPG Demand Index™ provides a
standard metric for tracking changes in
spending on consumer packaged goods. It
measures weekly changes in consumer
purchases, by dollar sales, against the year-
ago period across departments including fixed
and random weight products, grocery aisles
and retail formats. The IRI CPG Demand
Index™ is available for eight U.S. regions and
all U.S. states.
CLICK HERE FOR MORE!
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 44
The IRI CPG Inflation Tracker™ provides the
well-known price per unit metric for tracking
changes in pricing of consumer packaged
goods. It provides weekly changes in
consumer prices, price per unit against the
year-ago period across departments including
fixed and random weight products, grocery
aisles and retail formats. The IRI CPG
Inflation Tracker™ is available for eight U.S.
regions and all U.S. states.
CLICK HERE FOR MORE!
IRI CPG Inflation Tracker™
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 45
The IRI CPG Supply Index™ provides a
standard metric for tracking changes in
product availability (i.e. in-stock rates) in
stores for consumer packaged goods. It
measures weekly changes in product
availability against the baseline across
departments and retail formats. The IRI
CPG Supply Index™ is available for eight
U.S. regions and all U.S. states.
CLICK HERE FOR MORE!
IRI CPG Supply Index™
© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 46© 2020 Information Resources Inc. (IRI).
Confidential and Proprietary. 46
CONTACT U.S. FOR MORE
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