Related Companies

• Tesco
• Morrison (Wm) Supermarkets
• Sainsbury (J)

Related Indices

• FTSE All-Share
• FTSEurofirst 300
• FTSE 350
• FTSE 100

Related Sectors

• Food & Drug Retailers

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By John Harrington

Date: Wednesday 15 Oct 2008

LONDON (ShareCast) - German discount retailers continue to gain market share in the UK as the credit crunch forces consumers to watch the pennies.

Figures from market research group TNS Worldpanel indicate that Aldi’s market share reached its highest ever level, rising from 2.6% to 3% in the 12 weeks to 5 October, as the German-owned deep discounter saw sales surge by 22.1%.

Lidl, also German-owned, also had a good quarter, with sales up 9.85%, while frozen food specialist Iceland saw sales advance 11.8%.

The increasing popularity of cut-price supermarkets appears to be at the expense of Tesco and Sainsbury, with the former seeing its market share dipping 0.4 percentage points to 31.4%, while Sainsbury’s share has fallen 0.1% to 15.7%.

Tesco’s sales growth slowed to 5.5% during a period when TNS Worldpanel’s figure indicate food inflation rose 9.3%, up from 9% in the previous quarter.

Wm. Morrison’s and Asda, which traditionally have sold themselves as low cost retailers, fared reasonably well in the period with the former seeing sales growth of 9.6% and the latter growth of 9%.

Both supermarket chains saw their market shares gain by 30 basis points, with Morrison's share rising from 10.9% to 11.2% and WalMart-owned Asda's share improving from 16.8% to 17.1%.

Waitrose, owned by the John Lewis Partnership, and widely seen as operating at the top end of the market, saw its share diminish from 3.9% to 3.8%.

• News Channel