Sainsbury’s reported higher than expected profit growth and increased optimism for its Nectar loyalty proposition, which it says is strengthening its retail media offer.
Sainsbury’s new initiative, which replaces its Price Lock promotion, bears an identical name to a similar scheme from Tesco.
Sainsbury’s director of brands, strategy and creative planning Radha Davies says she hopes the expansion will help the business deliver more effective and efficient work as it looks to save £1bn in three years.
The supermarket has recorded strong Q3 performance driven by grocery volume sales increases – which it attributes to investment in value and own-brand ranges.
The supermarket chain’s strategy to “go after both” quality and the cheapest has helped it increase market share by 0.4 percentage points.
Asda teased the inclusion of singer Michael Bublé in its Christmas ad last week, with the full ad launching on TV this evening.
The UK-based supermarket chain has joined the festive celebrations by highlighting its employees, customers and pop singer Rick Astley.
Sainsbury’s has recorded strong retail sales growth in the first half of its financial year, having eaten into the market share of Aldi and Lidl for the first time.
Sainsbury’s saw a return to volume growth in its most recent quarter, with CEO Simon Roberts suggesting its investment in lowering prices has helped to improve value perceptions.
The supermarket says initial take up of its Nectar Prices scheme launched earlier this month, has been “way ahead” of expectations.
Are retail media networks driving changes to loyalty schemes as shopper data becomes essential to supplier relationships?
Sainsbury’s, Boots and Tesco have now all shifted the focus of their loyalty schemes towards offering customers more immediate value, as the cost of living crisis changes buying behaviour.
Supermarkets have reported strong Christmas results despite economic headwinds, but analysts say for the traditional grocers, this good fortune is unlikely to last.
Sainsbury’s focus on value has helped the supermarket fend off competition from the discount supermarkets over Christmas, as traditional grocers battle to maintain market share.
Sainsbury’s, Tesco and Morrisons have all lost market share over the 12 weeks to the end of November, while discounters Aldi and Lidl have made gains, Kantar data reveals.