Sales Growth At British Supermarkets Falls
Sales growth at British supermarket chains has slowed to its lowest pace in nearly three years, largely as a result of a sharp drop in food price inflation according to the results of a new survey.
The study conducted by market research firm Kantar Worldpanel suggests that aggregate sales across all British supermarkets grew by 3.6 per cent year on year during the quarter ending March 21st, the slowest growth rate since August 2007.
Kantar Worldpanel says the reason for the slowdown was due to lower food price inflation which fell to 1.8 per cent compared with 9.1 per cent in the same time period during the previous year.
” While lower inflation has had a dampening effect on retailer growth, it also “brings benefits to consumers. The latest figures suggest that shoppers are taking advantage of slower grocery price increases by trading up to more expensive lines such as Tesco Finest,” Kantar Worldpanel ‘s Fraser McKevitt said.
According to the results of the survey, Morrison’s was the strongest performer amongst the Big Four grocery retailers, with sales increasing by 7.8 per cent year on year during the quarter ending March 21st.
Next was Sainsbury’s with sales rising by 4.6 per cent, followed by Tesco (4.1 per cent) and Asda (2.7 per cent).
Please Note - All Prices Quoted Are Correct at Time of Posting
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