Advertisements
Advertisements
World

Tesco outperforms rivals in key Christmas period as Omicron fears boost grocery spending – business live | Business

Good morning, and welcome to our rolling protection of the world financial system, the monetary markets, the eurozone and business.

Grocery store large Tesco has outperformed its rivals over the essential Christmas period, as the omicron variant led folks to keep away from hospitality venues and eat extra at dwelling.

The UK’s largest grocer grew its market share to 27.9% over the 12 weeks to Boxing Day, a rise of 0.6%, in accordance with information simply launched by market researchers Kantar Worldpanel.

On-line grocer Ocado additionally had a superb Christmas – it was the one retailer to develop gross sales versus final yr, whereas each main grocer elevated gross sales in contrast with pre-pandemic ranges of 2019.

Advertisements

Aldi, Lidl and Waitrose additionally grew their market shares by 0.3%, 0.2% and 0.1% respectively.

{Photograph}: Kantar

General, take-home grocery gross sales dropped by 3% in the final 12 weeks in comparison with 2020, when lockdowns compelled folks to eat at dwelling extra. However spending remains to be greater than pre-pandemic, with gross sales 8% stronger than in 2019. And in December, folks spent almost as a lot in the supermarkets as a yr in the past.

Advertisements

That highlights how the droop in indoor eating, the cancellation of Christmas events, and the transfer to dwelling working has led to extra consuming at dwelling.

Spending at groceries shot up in December, Kantar studies, as Omicron fears deterred folks from consuming out.

Individuals seized the possibility to take pleasure in Christmas with family and friends after final yr’s muted festivities, and grocery gross sales hit £11.7bn over the month of December.

This lofty spend determine is down simply 0.2% on document 2020 gross sales, when a number of areas confronted restrictions, and the info counsel that whereas there weren’t formal guidelines in place throughout the UK this yr, many individuals celebrated at dwelling once more as a result of Omicron variant of Covid-19.

Advertisements

Tesco’s grocery gross sales in the 12 weeks to December 26 fell by 0.9% in comparison with 2020, whereas rivals Sainsbury’s Asda and Morrisons noticed their gross sales fall by 4.4%, 3.9% and 6.5% respectively.

Additionally arising

Later right this moment we uncover how eurozone firms fared final month, as the omicron wave hit Europe.

European inventory markets have opened decrease, with the FTSE 100 dipping by 18 factors after rallying by 120 factors to contemporary 22-month highs yesterday.

The agenda

  • 9am GMT: Eurozone companies PMI for December
  • 1.30pm GMT: US non-public sector payroll report from ADP
  • 3.30pm GMT: EIA weekly oil stock figures

Show More
Advertisements

Related Articles

Leave a Reply

Your email address will not be published.