Home Business News Tesco is back: Britain's biggest supermarket increases its market share

Tesco is back: Britain's biggest supermarket increases its market share

by LLB Reporter
15th Nov 16 11:10 am

Tesco turnaround taking shape

Britain’s biggest supermarket Tesco is augmenting ints market share, according to new figures.

Tesco’s sales were up 2.2 per cent in the 12 weeks to 6 November, according to Kantar Worldpanel figures. The company’s market share rose to 28.2 per cent, from 27.9 per cent in the same period a year ago.

Kantar analyst Fraser McKevitt said: “Much of Tesco’s growth has come from more affluent shoppers returning to the store, and average spend per trip is up by 2.1 per cent to £20.69.”.

Kantar’s data indicated that these chains were now growing at their slowest rate since 2011. Aldi’s sales were up 10.2 per cent to a 6.1 per cent market share, while Lidl was up by 6.1 per cent to a 4.6 per cent share.

Sainsbury’s recorded a 0.7 per cent sales fall, while Morrisons and Asda continued to struggle, down 2.4 per cent and five per cent respectively.

“We’re likely to see prices starting to creep up again in December, unless retailers choose Christmas to unleash a new round of price cuts,” McKevitt added. “Although it’s tempting to link any potential price increases to Brexit and the devaluation of sterling, it’s worth remembering that deflation has been easing since December last year, well before the referendum.”

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