Market research firm Kantar has published its latest supermarket share update, reporting a 2.2% increase in take-home grocery sales.
Take-home sales at the grocers increased by 2.2% over the four weeks to 7th July 2024. Sales of branded products increased by 3.6%, outpacing own-label items at 2.7%.
Grocery price inflation fell to 1.6%, which was its lowest figure since September 2021. Kantar said the drop coincided with the fastest rise in monthly footfall so far in 2024, and consumers made 2% more trips to the supermarket this period than they did one year ago.
Grocery inflation stood at 1.8% for the 12-week period ending 7th July 2024, as Kantar saw prices fall fastest in the butter market, among others.
Fraser McKevitt, head of retail and consumer insight at Kantar, commented: “England’s hopes might have been dashed on Sunday, but there was still some cause for celebration in the grocery industry. Sales of crisps and snacks got a boost, up by 5% compared with the month before.”
Kantar said that amid signs consumer confidence is improving, retailers may turn their attention to the King’s Speech on Wednesday to see what the newly elected Government’s legislative agenda holds for the grocery sector.
McKevitt continued: “The retail landscape looks very different from 2010 when the last Labour Government was in power – and so do our shopping trolleys. As diets have evolved, sales of popcorn, peanut butter and chilled vegetarian products, such as sausages and grills, have more than trebled.”
Retailer performance
Online retailer Ocado was the fastest growing grocer for the fifth month in a row, with sales up by 10.7% over the 12 weeks to 7th July. It holds 1.8% of the market, up 0.1% compared with the same period last year.
Discounter Lidl saw a 7.8% jump in sales to hit a market share of 8.1%. Waitrose gained share for the first time since January 2022, achieving a 0.1% rise to 4.5% as spending at the retailer increased by 3.3%.
Tesco achieved its biggest market share gain since November 2021, taking 27.7% of the market – a 0.7% increase versus the last year. Sainsbury’s boosted sales by 4.7% over the latest 12 weeks, bringing its share to 15.3% up from 14.9%. Morrisons accounts for 8.7% of the market, while Asda holds a 12.7% share. Aldi’s market share now stands at 10%.
Co-op has a 5.7% share, and Iceland maintains its 2.3% portion of the market, nudging up its sales by 4.1%.
