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Avocado Holiday Retail Recap

This report analyzes the retail sales performance of avocados during the Easter, Cinco de Mayo, and Memorial Day holiday weeks in Q2 2019, including sales trends, regional variations, and average prices.

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Avocado Holiday Retail Recap

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  1. Avocado Holiday Retail Recap Easter, Cinco de Mayo & Memorial Day HOLIDAYS & EVENTS Q2 2019

  2. Definitions • This report looks at retail sales performance for the three holiday and event weeks* listed below: • Easter – week ending 4/21/2019 • Cinco de Mayo – week ending 5/5/2019 • Memorial Day – week ending 5/26/2019 • Category: Avocados • Geographies: • Total U.S. • Regions • Retail POS data source: IRI / FreshLook *IRI data is provided in weekly increments, with each week ending on a Sunday. Weeks shown are the best fit for the holidays in this report. HAB's calculation is based in part on data reported by Information Resources, Inc. through its Freshlook Service for the Avocado category for Multi-Outlet (MULO). The information is believed to be reliable at the time supplied by IRI but is neither all-inclusive nor guaranteed by IRI. Without limiting the generality of the foregoing, specific data points may vary considerably from other information sources.

  3. Easter week ending 4/21/2019 Eggs weren’t the only oval shaped food in Easter shopping baskets in 2019 Nationally, avocado dollar sales increased +11% to $54MM. This gain was largely due to a +15% increase in average selling price

  4. Easter dollar sales top $54MM Holiday Week Sales and Average Price by Year (Dollars and Units in millions) Dollars Units ASP Easter week dollar sales have increased each year for the past four years, up +47% vs. 2016 to $54.0MM. 2019 Easter avocado volume declined -4% vs. 2018, but ASP increased +15% to $1.30/unit Source: IRI/FreshLook week ending 4/21/2019

  5. Easter showed dollar gains in all regions Dollar Sales and % Change • Nationally, Easter sales increased +11% vs. prior year to $54.0MM • California and Southeast posted the highest dollar gains in 2019 at +15% • On average, avocado retailers saw Easter week sales of $567 per store • Per store dollar sales were especially strong in West ($1,143) and California ($1,129) Total U.S. $54.0MM +11% Dollars per Store Selling Total U.S. Avg. = $567 Source: IRI/FreshLook week ending 4/21/2019

  6. Easter volume trends varied across regions Unit Sales and % Change • Nationally, Easter week avocado volume declined -4% to 41.6MM units • Three of eight regions posted volume growth, ranging from a high of +11% in Great Lakes to +1% in Midsouth • On average, avocado retailers saw sales of 436 units per store during Easter week • West led the regions in unit sales per store selling. California, West, and South Central units/store exceeded the national average Total U.S. 41.6MM -4% Units per Store Selling Total U.S. Avg. = 436 Source: IRI/FreshLook week ending 4/21/2019

  7. Nationally, Easter prices increased +15% Total U.S. $1.30 +15% Southeast $1.36 +10% South Central $1.04 +31% Plains $1.25 +6% California $1.43 +16% low high Great Lakes $1.28 +1% West $1.22 +12% Midsouth $1.37 +12% Northeast $1.55 +17% • At the region level, average price changes ranged from an increase of +1% in Great Lakes to +31% in South Central • There was a wide range of prices across the regions, from a low of $1.04/unit in South Central to a high of $1.55/unit in Northeast Source: IRI/FreshLook week ending 4/21/2019

  8. Easter category dollars increased more than +$5.2MM Dollar Growth by Region (in millions) Unit Growth by Region (in millions) • All regions contributed to the Easter week dollar gain of +$5.2MM. California posted the largest gain at +$1.2MM • Three of eight regions grew units, with Great Lakes (+0.4MM) and Southeast (+0.2MM) posting the greatest gains. South Central and Northeast posted the greatest declines (-1.3MM units and -0.8MM units, respectively) Source: IRI/FreshLook week ending 4/21/2019

  9. Shoppers continue to show that Cinco de Mayo and avocados are a winning combination This year, Cinco de Mayo dollar sales reached $64.3MM, up +6% vs. prior year and +58% vs. 2016 Cinco de Mayo week ending 5/05/2019

  10. Cinco de Mayo dollar sales top $64MM Holiday Week Sales and Average Price by Year (Dollars and Units in millions) Units Dollars ASP Cinco de Mayo dollar sales have trended upward for four straight years. 2019 dollar sales increased +58% vs. 2016 Source: IRI/FreshLook week ending 5/05/2019

  11. Cinco de Mayo dollar sales grew in six of eight regions Dollar Sales and % Change • Nationally, Cinco de Mayo sales increased +6% to $64.3MM • Regional dollar gains ranged from +1% in Plains to +17% in Southeast • On average, avocado retailers saw sales of $675 per store for the holiday week • West and California posted per store dollar sales that were above the national average Total U.S. $64.3MM +6% Dollars per Store Selling Total U.S. Avg. = $675 Source: IRI/FreshLook week ending 5/05/2019

  12. Cinco de Mayo volume trends declined Unit Sales and % Change • Nationally, Cinco de Mayo volume declined -22% to 51.9MM units • Volume trends declined in all regions • On average, avocado retailers saw sales of 544 units per store during the holiday week • West, California and South Central posted per store volume sales that were above the national average Total U.S. 51.9MM -22% Units per Store Selling Total U.S. Avg. = 544 Source: IRI/FreshLook week ending 5/05/2019

  13. Nationally, average price increased significantly for Cinco de Mayo Total U.S. $1.24 +36% Southeast $1.34 +40% Plains $1.27 +37% South Central $0.98 +37% Midsouth $1.21 +30% low high Great Lakes $1.26 +41% West $1.19 +28% California $1.32 +52% Northeast $1.45 +28% • Average price for Cinco de Mayo ranged from a low of $0.98/unit in South Central to a high of $1.45/unit in Northeast • Average price increased across all eight regions and ranged from an increase of +28% in West and Northeast to an increased of +52% in California Source: IRI/FreshLook week ending 5/05/2019

  14. Cinco de Mayo posted incremental dollars of +$3.7MM Dollar Growth by Region (in millions) Unit Growth by Region (in millions) • Dollar sales increased by +$3.7MM nationally. Six out of eight regions posted dollar gains • Unit sales were down across all regions, resulting in incremental sales of -14.5MM units Source: IRI/FreshLook week ending 5/05/2019

  15. Memorial Day week ending 5/26/2019 Shoppers celebrated the start of summer with record avocado sales In 2019, Memorial Day avocado dollar sales topped $57MM, up +8% vs. prior year

  16. Memorial Day avocado sales top $57MM Holiday Week Sales and Average Price by Year (Dollars and Units in millions) Dollars Units ASP • Benefiting from higher prices, dollar sales surged in 2019, up +41% vs. 2016 • 2019 volume declined vs. 2018, but was +7% higher than 2016 Source: IRI/FreshLook week ending 5/26/2019

  17. Memorial Day dollar trends were up in all regions Dollar Sales and % Change • Nationally, Memorial Day sales increased +8% vs. prior year to $57.1MM • Each of the eight regions showed dollar growth, led by Southeast at +14% • On average, avocado retailers saw sales of $599 per store during the holiday week • Per store sales were especially strong in West ($1,199) and California ($1,150) Total U.S. $57.1MM +8% Dollars per Store Selling Total U.S. Avg. = $599 Source: IRI/FreshLook week ending 5/26/2019

  18. Memorial Day volume declined in most regions Unit Sales and % Change • Nationally, Memorial Day volume declined -15% to 42.8MM units, with declines in all regions except Southeast • Southeast volume increased +4% • On average, avocado retailers saw sales of 448 units per store during the holiday week • West, California and South Central had per store unit sales above the national average Total U.S. 42.8MM -15% Units per Store Selling Total U.S. Avg. = 448 Source: IRI/FreshLook week ending 5/26/2019

  19. Average prices increased for Memorial Day Total U.S. $1.34 +26% Northeast $1.53 +32% South Central $1.03 +39% Midsouth $1.37 +15% Southeast $1.31 +10% low high Great Lakes $1.41 +19% West $1.27 +22% Plains $1.32 +33% California $1.55 +32% • Nationwide, average price for Memorial Day week increased +26% to $1.34/unit • Average price increased in all regions, with the largest increases in South Central (+39%) and Plains (+33%) Source: IRI/FreshLook week ending 5/26/2019

  20. All regions contributed to Memorial Day incremental dollars Dollar Growth by Region (in millions) Unit Growth by Region (in millions) • All eight regions contributed to Total U.S. dollar growth of +$4.0MM. California posted the highest incremental dollar sales at +$1.1MM • All regions except Southeast declined in volume, resulting in incremental volume sales of -7.3MM units Source: IRI/FreshLook week ending 5/26/2019

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