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Tesco increases market share thanks to fastest sales growth in three years

New figures on the grocery market have brought a second month of good news for Tesco.

FOOD & DRINK

Tesco increases market share thanks to fastest sales growth in three years

New figures on the grocery market have brought a second month of good news for Tesco.

The figures from Kantar Worldpanel covering the 12 weeks ending 6 November, reveal that Tesco grew its sales by 2.2% to take its market share to 28.2%. According to Kantar, this was the fastest rate of growth in three years.

Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, said: “Tesco’s 2.2% growth is a considerable improvement on the numbers it was delivering this time last year, and indeed in 2014.

“Branded sales did see an increase but most of the gains were made through its own-label products, both at the cheaper and more premium ends of the price spectrum. Tesco’s Farm Brands continue to benefit from sales growth in fruit and vegetables, while the premium Tesco Finest range has grown by 6% in the past 12 weeks, notably in crisps, fresh meat and chilled convenience.

“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% to £20.69.”

Sales at Sainsbury’s declined by 0.7% in the period, contributing to a 0.3 percentage point fall in market share to 16.3%.

Asda’s rate of decline slowed slightly to 5%, although increased sales in its premium own-label lines was a bright spot the period. Morrisons also saw a boost in premium own-label thanks to its ‘The Best’ line, although total sales fell by 2.4% in line with the context of a smaller store estate.

At Iceland sales grew by 8.3% and as a result it increased its market share by 0.2 percentage points to 2.1%. McKevitt said much of Iceland’s growth was from its chilled and ambient lines, although there were still notable successes in the freezer aisles such as fish, ready meals and its product tie-ins with Slimming World and Pizza Express.

Aldi grew its sales by 10.2%, with 547,000 more shoppers visiting over the 12 weeks – a bigger increase in visitor numbers than any other retailer. Lidl sales climbed by 6.1%.

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