Business

Wednesday 25 April 2018

Lidl record as British shoppers squeezed

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Paul Sandle

UK supermarket sales increased by 3.6pc in the 12 weeks to September 10, largely driven by higher inflation, according to the latest industry data.

With shoppers feeling the squeeze, discounter Lidl grew its market share the fastest among big supermarkets.

An increase of 19.2pc took its share to a record high of 5.3pc, Kantar Worldpanel said, while growth at rival Aldi was 15.6pc, resulting in a share of 6.9pc.

Of the 'Big Four' supermarkets, market leader Tesco came out on top, with sales up 2.7pc, although its share was squeezed by 0.3 percentage points to 27.8pc.

Sainsbury's sales were up 2.1pc, Asda rose 1.5pc and Morrisons was up 2.3pc, Kantar said.

Food inflation was 3.2pc, compared with 3.3pc in the previous period.

UK households are paying the price of weaker sterling, which hits spending power in a country that imports the bulk of its food. Having steadied in recent weeks the pound slipped on Tuesday.

The pound was 0.4pc lower at 88.84 pence per euro. (Reuters)

Irish Independent

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