UK supermarket Sainsbury’s has achieved “strong sustained grocery momentum” with a second year of volume growth for the 16 weeks to 22nd June 2024.
The retailer’s Q1 Trading Statement highlighted that Sainsbury’s had the “biggest market share gains of any grocer during the quarter” with consistent net switching gains as more customers reportedly chose Sainsbury’s for their main shop.
Volume growth remained strong as inflation slowed, which Sainsbury’s said had occurred despite tough weather comparatives in recent weeks. Its Q1 grocery sales were up 4.8% on the year, while total retail sales were up 2.6%.
Sainsbury’s also reported that there had been “improvement in value perception” ahead of the market, with 98% of big baskets including Nectar Prices or Aldi Price Match products.
The retailer said its Taste the Difference range remained its fastest growing own-brand, with sales growth of 14% as Sainsbury’s “continued to perform ahead of all competitors” in premium own-label volume growth (Worldpanel by Kantar Premium Own-Label Packs Growth – 14 weeks to 9th June 2024).
Simon Roberts, chief executive of Sainsbury’s, said: “We are pleased with our market-beating grocery performance and the early progress we’re making against our Next Level Sainsbury’s plan. We’ve been winning from competitors every month for 15 months, as more and more people are choosing Sainsbury’s for their big weekly shop.
“We are laser focused on delivering the best combination of value and quality in the market and our customers are recognising that with 98% of big baskets including Nectar Prices or Aldi Price Match. Innovation continues to be a top priority and we launched 400 new products this quarter, almost half of which were Taste the Difference, which continues to outperform a strong premium market.
“Our food business is going from strength to strength and I would like to thank all of my colleagues and our suppliers and farmers for the brilliant job they are doing every day to deliver for all our customers.”
