Unilever lays out 'action plan' as consumers downgrade

Unilever’s (ULVR) volumes fell by 0.6 per cent in its third quarter as consumers continue to plump for cheaper own-brand alternatives in Europe. 

Markets on the continent are most exposed to the nutrition and ice cream categories, which as management pointed out “remain inflationary and are more impacted by consumer downtrading”. This led to a 10.7 per cent volume drop in Europe. The Americas and Asia Pacific divisions both saw volumes rise around 2 per cent.