Panic buying? It’s so last year
THE boom in spending at supermarkets is beginning to slow, according to data from market research group Kantar.
Britons are spending £4.2billion more at supermarkets than they were before the pandemic. Grocery sales are still 15.6 per cent higher than they were before Covid-19.
But figures showed signs of slowing – and sales even going into reverse.
Kantar said that sales over the 12-week period ending March 21 saw growth slow to 7.4 per cent, while the last four weeks have seen grocery spending fall 3 per cent compared to the same period last year.
Fraser McKevitt, head of retail and consumer insight, said the fall was surprising despite tough comparisons with the start of the coronavirus outbreak and the “extraordinary spending” that accompanied it.
He added: “While grocery growth has slowed against 2020, sales are still much higher than the same 12 weeks in 2019.
“As severe restrictions on dining out continue, the average household spent an extra £134 on take-home groceries compared with this period two years ago.”
Kantar’s data also indicate that the boom in online grocery sales is stabilising.
Although online grocery spending is 89 per cent higher than it was this time last year, its share of the market has dropped back from 15.4 per cent in February to 14.5 per cent.
Mr McKevitt said that the largely vaccinated over-65s are growing in confidence, reflected by the growing numbers who are visiting stores again.
Kantar said that trips to stores by shoppers over the age of 65 grew by 6.8 per cent.
“We’re seeing growing confidence among older shoppers in particular, with 143,000 fewer over-65s making digital orders in March,” said McKevitt.
“Now largely vaccinated, this age group increased its trips to bricks-andmortar outlets by 6.8 per cent – more than double the national rate.”
Kantar found that Tesco, Morrisons, Asda, Iceland and Ocado grew their market share, while Sainsbury’s and Co-op were flat.
Waitrose,Aldi and Lidl lost ground.