Golden effect? Grocery market rallies
Retail analysts are heralding a bounce in the grocery market, as price inflation for the 12 weeks to 5 August was found to be the lowest in 18 months.
Kantar Worldpanel’s latest grocery share figures shows growth of 3.9%, up from 2.1% only a month ago. Statistics showed all four big retailers performing strongly, led by Asda at 6.2% and Sainsbury’s on 4.6%. Although still trailing slightly, Tesco’s recent loss of market share seems to be slowing and it finished on 30.9%, compared to 31% in the same period last year.
Aldi’s impressive growth continued, increasing market share by 26% to 2.9% of the overall grocery market, with Lidl also showing double-digit growth of 11.8%. At the other end of the market, Waitrose’s growth came back strongly at 7.4%, following a dip in the rate of growth over the previous three months.
Kantar Worldpanel’s retail analyst Fraser McKevitt said: “It’s too early to attribute improved grocery sales to the Olympics, however the increased market growth rate coincides with the opening week of London 2012 and the better weather in July.
“Shoppers might not yet notice it at the tills, but they are starting to benefit from lower grocery inflation, with prices now rising at 3.2%* – the slowest rate for 18 months and a sign that things are starting to look up. Despite this, consumers are still seeking economy products and retailers are reflecting this demand in their store offerings. The lowest-priced own-label lines, such as Tesco Everyday Value, are growing at 13% while premium own-label sales are falling by 4% year-on-year.”
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