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Tesco and Sainsbury’s continued to gain market share as shoppers turned to discounts amid concerns over rising prices.
Spending at Tesco PLC (LSE:TSCO) rose 4.3% in the 12 weeks to 19 April, lifting its market share to 28.1%. J Sainsbury PLC (LSE:SBRY) increased sales 4.5%, taking its share to 15.5%.
Marks and Spencer Group PLC (LSE:MKS) outperformed both on grocery sales, with growth of 7.3% versus last year, according to the latest Worldpanel grocery market share data from Numerator.
British households were increasingly on the hunt for deals, with spending on promoted items rising 7.8% year on year. By contrast, spending on full-price goods fell 0.2%.
Promotions now account for 31.3% of grocery spending, with most driven by price cuts rather than multi-buy deals.
Grocery inflation eased to 3.8%, the lowest level in 12 months. Overall take-home grocery sales grew 0.9% over the four weeks to 19 April.
Despite the easing inflation, shoppers remain cautious, with concerns over the Middle East conflict weighing on sentiment. Fraser McKevitt at Worldpanel said households were already “feeling the squeeze” and responding by seeking out special offers.
Lidl was the fastest growing retailer, with sales up 8.8% and market share reaching a record 8.4%, equalling that of Morrisons, where growth was only 1.1%.
Asda’s share stood at 11.6% as its sales fell 2.4%. Aldi’s growth was 1.2%, with market share at 10.6%.
More premium-focused retailers outpaced the overall market, McKevitt noted. Sales at online-only specialist Ocado, which stocks food from M&S, increased by 11.3%, taking share to 2.2%, up 0.2 percentage points on last year.
Market share for Waitrose held at 4.6%, as sales rose 3.8%, with spend per trip growing faster than at any other grocer.
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