Supermarket prices rising at fastest rate in 4 years
Supermarket prices have risen by 3.2 per cent, the fastest rate in four years, according to new figures by Kantar Worldpanel. The research is based on the 12 weeks to 4th November 2017.
“Volume sales have increased by less than 1 per cent, meaning its price rises keeping supermarket performance buoyant,” said Fraser McKevitt, head of retail and consumer insight, Kantar Worldpanel. “Like-for-like grocery inflation now stands at 3.4 per cent – its highest level since November 2013.
“With the average shop currently costing £18.26, consumers are now paying an extra 62 pence each time and over the course of a year it could add £143.70 to a typical family’s grocery bill.”
The research also found that Lidl is Britain’s fastest growing supermarket for the fifth consecutive period, with sales up 15.1 per cent. The grocer’s market share has grown 0.5 percentage points to 5.1 per cent.
Sales at Aldi increased by 13.1 per cent, advancing the retailer’s market share to 6.7 per cent.
Sainsbury’s is the fastest growing of the ‘big 4’ supermarkets. Sainsbury’s grew sales by 2.6 per cent, attracting an additional 364,000 shoppers to become the fastest growing among the big four for the first time since April 2016.
Tesco saw sales growth of 2.3 per cent as its market share dipped to 28.0 per cent, down 0.2 percentage points on last year.
Morrisons saw sales increase by 2.1 per cent, accompanied by a marginal fall in share – from 10.5 per cent last year to 10.4 per cent during the latest quarter.
Asda’s overall sales grew by 1.5 per cent year on year.
Sales at Iceland increased by 1.1 per cent, with share falling slightly to 2.0 per cent – down from 2.1 per cent last year.
Waitrose held market share steady year on year at 5.3 per cent, seeing sales growth across the board: from convenience stores, larger supermarkets and online.
Ocado increased sales by 6.8 per cent, growing ahead of the overall online grocery market.