Weak confidence around personal finances and a squeeze on disposable income will hold back growth in food retail sales to around 5 percent in 2023, according to market researcher NielsenIQ. | Reuters
NielsenIQ said UK grocery sales rose 10.9 percent in the four weeks to Dec. 31 year-on-year, masking a drop in volumes when accounting for inflation.
It said supermarkets benefited from very cold weather in early December and also from continued rail disruption due to labor strikes which held back spend in the hospitality channels helping food retailers to gain “share of calories consumed” from the out-of-home channels. Echoing data from rival market researcher Kantar published last week, NielsenIQ said discounters Aldi UK and Lidl GB were the best performers with sales growth of 19.3 percent and 15.7 percent respectively over the 12 weeks to Dec. 31.
Of Britain’s traditional major supermarket groups, No. 2 player Sainsbury’s was the best performer with sales up 8.5 percent over the 12 weeks, followed by market leader Tesco with an 8 percent sales increase and No. 3 Asda with sales up 7.9 percent. Morrisons was the laggard with sales falling 1.1 percent.Tesco, Sainsbury’s and M&S are all due to update on Christmas trading this week.
NielsenIQ said that while online sales rose 2.8 percent in December, its share of the grocery market fell to 10.4 percent, versus 11.2 percent a year ago.
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