Culture

 

British Queen celebrates

 

According to industry data released by market researcher NIQ, online supermarket Ocado, discount giant Lidl, and upscale food retailer Marks & Spencer emerged as the UK's top-performing

grocers in the last quarter.

The figures, representing the 12 weeks leading up to April 20, showed impressive sales growth for Ocado, with a 12.0% increase year-on-year, followed closely by Lidl with a 9.5% rise and M&S with a 9.3% surge. Additionally, all three retailers witnessed a slight expansion in their market share during this period.

While market leaders Tesco experienced a 5.8% sales growth and Sainsbury's saw a 6.6% increase, Asda, holding the third position, faced a decline in sales by 0.9%. Discounter Aldi observed a slowed sales growth at 1.3%, while Morrisons reported a 4.4% growth rate.

NIQ's data for the four weeks leading to April 20 revealed a slowdown in total till sales growth across UK supermarkets, which reached 3.4%. Factors contributing to this deceleration included a decrease in inflation, an earlier Easter season, and a decline in general merchandise sales.

The report also noted a continuing slowdown in food inflation, marking a twelfth consecutive month of deceleration to 3.4% from 3.7%. Notably, certain products such as butter, fish, and fruits experienced price reductions during this period.

Moreover, NIQ highlighted an increase in spending on promotions, rising to 25.3% in the four-week period, up from 24% in the previous month. Mike Watkins, NIQ’s UK head of retailer and business insight, commented on shoppers' continued pursuit of the best deals while noting uncertainties surrounding spending on fashion, technology, and home goods. He suggested that increased disposable income might lead to a resurgence in spending on holidays and leisure activities. Photo by Jivee Blau, Wikimedia commons.