Tesco, Sainsbury's, Asda, Morrisons shoppers who make 'four trips per week' warned
Supermarket shoppers will notice their bank balance is lower this month - as food inflation continues to rise. Warnings ahead of Christmas from retail analysts show October marked the "biggest" sales month for supermarkets in the UK so far despite food price hikes.
Supermarket prices were 2.3% higher than the same time last year, a slight increase on September's 2% rise, but still within "typical levels", say analysts at Kantar. Despite rising prices, take-home sales across supermarkets grew by 2.3% in the four weeks leading up to November 3, totalling £11.6billion.
Fraser McKevitt, head of retail and consumer insight at Kantar, said: "October 2024 was the busiest month for the supermarkets since March 2020, when people were preparing for the first national lockdown." He added: "Trip numbers have been going up gradually for some time, but this steady march hasn't reached pre-Covid levels of shopping frequency just yet. The average for each household is slightly over four trips per week.
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"What's interesting this month is the number of households who are already stocking up the cupboards for the big day in December. Some people think Christmas ads hit our screens too soon but it's clearly important for retailers to set out their stalls early."
Tesco enjoyed a 4.6% sales boost, raising its market share to 27.9 per cent. Sainsbury’s also saw a 4.4% increase in spending, taking its market share to 15.5%. Asda ’s sales dropped by 5.5% year-over-year, holding a 12.5% market share.
Morrisons posted a 2.4% sales rise. Inflation is the increase in the price of something over time. For example, if a bottle of milk costs £1 but is £1.05 a year later, then annual milk inflation is 5%. The prices of hundreds of everyday items, including food and fuel, are tracked by the Office for National Statistics (ONS).