Shoppers are seeking the highest amount of discounts and promotions since June 2021, as items on offer are making up almost a third (29.3%) of sales across all grocers in Kantar’s latest data, in the four weeks to 14 April 2024.
Fraser McKevitt, head of retail and consumer insight at Worldpanel by Kantar, said: “We’ve been monitoring steady annual growth in promotions over the past 11 months as retailers respond to consumers’ desire for value. Deals helped shoppers save a massive £1.3 billion in the latest four weeks, almost £46 per household. This emphasis on offers, coupled with falling prices in some categories like toilet tissues, butter and milk, has helped to bring the rate of grocery inflation down for shoppers at the till.”
In comparison to major retailers, symbols and independents are seeing a very slight increase of sales year on year (+0.1%) , while Co-op has suffered a -0.1% drop in sales over the same period.
Grocery price inflation hits two-year low
Grocery price inflation is reported to have fallen to 3.2% over the four weeks to 14 April, a strong indication inflation is dropping as it falls for the fourteenth month in a row – but prices are still increasing, just at a lesser rate. Meanwhile, overall take-home grocery sales up 3.3% this month
Spending on confectionary topped £100m for the first time ever in the seven days up to and including Easter Sunday.
McKevitt said: “Higher prices have played a role in reaching that record spend figure, but the number of chocolate eggs sold in the seven days to Easter was also 3% higher this spring than last, with 37% of consumers buying one in that week. Hot cross buns were even more popular, enjoyed by 45% of Britons.”
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