Fraser McKevitt, head of retail and consumer insight at Kantar, commented: "Football fans drove beer sales up by an average of 13% on the days that the England men’s team played, compared with the same day during the previous week. Sales of crisps and snacks up 5% vs month before. With many matches played on ‘school nights’, though, some Britons chose moderation. Spending on no and low-alcohol beer soared by 38% on matchdays.”
Grocery price inflation down to 1.6% – lowest since September 2021. The drop coincided with the fastest rise in monthly footfall so far in 2024. Consumers supermarket trips up 2% this period vs one year ago.
Meanwhile, as cost of living pressures started to ease for some people, sales of branded products increased by 3.6%, outpacing own-label items, which grew by 2.7%.
After a difficult few years, Kantar noted that retailers will now be turning their attention to the King’s Speech on Wednesday to see what the newly elected government’s legislative agenda holds for the grocery sector.
Looking at the performance of individual retailers, Ocado was the fastest-growing grocer for the fifth month in a row, with sales up by 10.7% over the 12 weeks to 7 July. The online retailer now holds 1.8% of the market, up 0.1 percentage points compared with the same period last year.
Lidl saw a 7.8% jump in sales, bringing its share of the market to 8.1%. Aldi continued to struggle for growth, with its market share slipping to 10% after a 0.3% increase in sales.
Waitrose gained share for the first time since January 2022, achieving a 0.1 percentage point rise to 4.5% as spending at the retailer increased by 3.3%.
Tesco achieved its biggest share gain since November 2021, taking 27.7% of the market – a 0.7 percentage point increase versus last year – after a 4.6% rise in sales. Sainsbury’s saw its sales climb 4.7%, bringing its share to 15.3%.
Meanwhile, it was another difficult period for Asda, with its sales down 5.3% and market share slipping to 12.7%. Morrisons managed a 1% increase in sales, with its share unchanged at 8.7%.
NamNews Implications:
- Despite their efforts/initiatives, Asda continue to lose share to Tesco & Sainsbury’s.
- Given private equity involvement, anticipate cuts at Asda to improve EBITDA.
- Meanwhile, Morrisons is managing to hold share as part of a gradual turnaround.
- The switching back to brands reduces the risk of shoppers becoming loyal to own-label equivalents…
- …but the key question remains: What will Aldi do to restore growth vs Lidl?
#Kantar
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