Tuesday 23 January 2018

High food prices mean families have less to spend, new figures

Thomas Molloy

Thomas Molloy

Shoppers with children are coming under intense pressure with families spending less on their weekly shops and switching to value stores, new figures show.

The latest supermarket share figures from Kantar Worldpanel in Ireland show cash strapped families and switching to discounters Aldi and Lidl whose combined market share is expected to hit 15pc by December.

Food prices are rising around the world as the cost of basic food stuffs jumps.

"Although inflation is stabilising, price increases are nearly double the rate they were this time last year,” said Mark Thomson, director at Kantar Worldpanel.

“Consumers are responding by cutting back with families spending, on average over this year, €67 less than they did in 2012.  As a result, we have seen the overall market decline by 0.2pc."

Aldi, Lidl and SuperValu are the only retailers to increase market share, growing to 7pc, 7.4pc and 19.pc respectively, Kantor’s figures show.

Tesco's share of 27.6pc is in line with its 2011 performance, but a drop from the 28.8pc recorded in 2012.  Dunnes' share now stands at 21.5pc, down from 22.2pc last year and Superquinn has held share at 5.4pc.

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