The major supermarkets are moving away from ‘here today, gone tomorrow’ promotions and towards everyday low prices, according to Kantar Worldpanel.
Tesco, Morrisons and Asda have all announced price cuts this month, as new figures from Kantar show the British grocery market is growing at its lowest level for at least 11 years.
The market grew at just 1.9% for the 12 weeks ending 27 April, due to intensifying price competition among the supermarkets and a resulting drop in price inflation, Kantar’s latest grocery share figures show.
Edward Garner, director at Kantar Worldpanel, said: “There are clear signs that the major supermarkets are reviewing their strategies in the face of competition. We’re now seeing the big four moving away from ‘here today, gone tomorrow’ promotions and toward everyday low prices.”
He said the proportion of sales on promotion currently stood at 45% among the big four - by contrast, the figure at Aldi is just 3%.
Waitrose, Aldi and Lidl all achieved new record shares during the period, with 5.1%, 4.7% and 3.5% respectively. Aldi achieved record sales growth of 36.1%.
Among the big four, Asda has proved the most resilient, maintaining its 17.3% market share and achieving year-on-year sales growth of 2.0%.