UK Grocery Market Grows At 10 Year Low

Competitive price wars among the U.K.’s biggest supermarkets have driven down the cost of food, pushing the overall growth of the grocery market to a 10-year record low.

Deflation in staple items such as bread, milk and vegetables also contributed to the fall in growth, which came in at just 0.8 percent for the 12 weeks ending 17 August this year, according to data from Kantar Worldpanel.

Once again it was the budget and luxury grocers that delivered growth ahead of the market, while the mid-range stores remained under pressure.

Aldi posted the strongest growth in terms of market share, claiming 4.8 percent compared to 3.7 percent over the same period last year. Asda and Waitrose also managed slight gains.

Tesco, still the U.K.’s dominant retailer with almost 29 percent market share saw its share fall from over 30 percent, when compared with figures from 2013.

via CNBC

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