In the latest market analysis, Tesco has marked a significant milestone, achieving its largest market share since 2017.
- Kantar’s recent data shows Tesco’s market share rose to 28%, driven by significant sales growth.
- Sainsbury’s also saw a rise in sales and market share, while Asda’s share declined notably.
- Ocado continued its impressive growth trajectory, maintaining its status as the fastest-growing grocery retailer.
- Price competition remains fierce among supermarkets, with price reductions in some categories like toilet rolls and pet food.
Tesco’s market share has reached 28%, its highest since 2017, buoyed by a 10% increase in profits and a 4% sales rise. This data, released by Kantar, highlights Tesco’s successful strategy in capturing a larger portion of the supermarket segment.
Sainsbury’s experienced a 5.1% sales increase, enhancing its market share by 0.4 percentage points, reaching 15.2% for the 12 weeks ending 29 September.
Asda faced challenges with market share declining to 12.6%, a notable drop from 13.7% the previous year. This continues a trend of decreasing market dominance for Asda.
Ocado maintained its position as the fastest-growing supermarket for the eighth consecutive month, with a remarkable 10% rise in sales, bringing its market share to 1.8%.
Grocery price inflation slightly increased to 2% in the four weeks leading to 29 September, yet Kantar noted a decrease in prices in specific sectors. For instance, toilet and kitchen roll prices have decreased by 6% year-on-year, and pet food costs have seen reductions of 4% and 3% for dog and cat food respectively.
Additionally, upcoming events like Halloween are expected to boost sales for supermarkets as consumers prepare earlier this year. Sales of pumpkins have nearly doubled from last September, reaching just under £1 million in the last four weeks, and sugar confectionery sales increased by 9%.
Tesco’s strategic advancements affirm its strengthened market position amidst a competitive retail environment.
