Brexit makes no immediate impact on grocery market
Brexit has had “no immediate impact” on retailer prices or sales volumes the head of retailer and consumer insight at Kantar Worldpanel, Fraser McKevitt, has said following analysis of the latest grocery share figures for the 12 weeks ending 17th July 2016.
Sales of sausages have fallen 6.3% likely due to the poor early summer weather.
The grocery share figures show slow growth for the supermarket sector, with sales up 0.1% compared to last year.
McKevitt commented: “The EU referendum result has had no immediate impact on the prices retailers are charging or the sales volumes consumers are buying over the past 12 weeks. The nation’s average shopping basket is 1.4% cheaper than a year ago, exactly the same level of deflation as reported last month, and it remains to be seen if the Brexit vote will bring about any price rises this year.”
McKevitt also commented on the drop in sales of seasonal meat products, such as sausages, as a result of the poor early summer weather. Sales of sausages fell by 6.3%.
Meanwhile, among the individual retailers, sales at Tesco fell by 0.7%. The retailer achieved its slowest rate of share loss since March 2014, down by 0.2% percentage points to 28.3% of the market.
At Sainsbury’s sales fell by 1.1%, taking market share down by 0.2 percentage points to 16.3%, whilst Asda saw drop its sales by 5.6%, with share declining to 15.5%.
Morrisons sales fell by -1.8% – its best results since January this year. These figures reflect its wave of store disposals in 2015, but its impact should start to lessen in the next few months. While Morrisons’ overall market share fell by 0.2 percentage points to 10.7%, its premium own-label lines showed strong growth of 3.8% – the best premium private-label performance among the big four.
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