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Grocery market growing at slowest rate for 11 years: new figures

New figures have revealed a slowdown in grocery market growth to 1.7% - the lowest level for at least 11 years.

GENERAL MERCHANDISE

Grocery market growing at slowest rate for 11 years: new figures

New figures have revealed a slowdown in grocery market growth to 1.7% - the lowest level for at least 11 years.

The latest supermarket share figures from Kantar Worldpanel covering the 12 weeks ending 25 May 2014 show that despite the market slowdown, Lidl achieved a record share of 3.6% in the period with its highest ever year-on-year growth of 22.7%. Similarly, Aldi gained 35.9% and retained its record 4.7% share reached last period.

Tesco, Sainsbury’s and Morrisons all lost market share since the same period last year while Asda was the only big supermarket to increase its share with year-on-year growth of 2.4%. Meanwhile Waitrose maintained its 5.1% market share.

Edward Garner, director at Kantar Worldpanel, said: “At Waitrose, managing director Mark Price’s tactic of being “everything that the discounters aren’t” seems to have paid off for the retailer. By differentiating its offer, Waitrose has maintained its all-time record share of 5.1% secured last period. Meanwhile, Asda surpassed its rivals with a market-beating growth of 2.4%, lifting market share to 17.1%, compared with 17% a year ago.”

Among the smaller retailers, Iceland’s growth rate dropped back to average market levels with its share remaining at 2%, while Farmfoods mirrored the likes of Aldi and Lidl, growing sales by 27.1%.

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