End to recessionary buying behaviour in sight
The supermarkets could soon see an end to recessionary buying behaviour, according to TNS Worldpanel.
Its most recent grocery market share figures show that premium ranges such as Tesco Finest are in growth, while the discounters including Aldi, Lidl and Netto, show no year-on-year share growth for the 12 weeks to 29 November.
The trend is in contrast to the same period last year during which Aldi recorded 25% growth.
Edward Garner, communications director at TNS Worldpanel, says: “The market is seeing several signs that indicate that an end to the recessionary buying behaviour that has characterised the last year is imminent.”
Asda, Sainsbury’s and Morrisons all added market share during the period while Tesco’s share remains flat.
Morrisons achieved record market share of 12.1% growing at twice the market average.
Today, Tesco posted a sales increase of 5.7% in third quarter results with like for like sales up 2.8% as the supermarket gears up for Christmas.
The supermarket also cut prices on more than 200 products in its Finest range in a bid to compete with upmarket rivals.
