Tesco Bucks Market Decline; Grocery Inflation On The Rise

Latest figures from Kantar show take home grocery sales fell by 1.9% over the 12 weeks to 31 October, although they are still 7.3% higher than pre-pandemic levels in 2019.

NamNews Implications:

• “Already, (worried?) households visit an average of 3.3 supermarkets per month in order to find the best value for money.”
• Customers are also getting ahead on shopping for the big day itself.
• i.e. Frozen poultry sales are 27% higher year-on-year…
• With their sales rising by 0.3% over the 12 weeks, Tesco was the only retailer to achieve YoY growth!
• But note Lidl’s 12.5% increase on 2019….
• …and Ocado + 36.7% on 2019.

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