Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Chocolate Cravings and Bargain Hunts Drive Down UK Food Inflation for 14th Consecutive Month

by April 23, 2024
April 23, 2024
Chocolate Cravings and Bargain Hunts Drive Down UK Food Inflation for 14th Consecutive Month

Britons’ love affair with chocolate and penchant for seeking out discounts have played pivotal roles in driving down grocery price inflation for the fourteenth consecutive month, according to new figures from Kantar.

The latest data reveals a notable shift in consumer spending habits, with a “significant” increase in discount purchases accounting for 29.3% of supermarket sales – the highest level outside of the festive season since June 2021.

Fraser McKevitt, head of retail and consumer insight at Worldpanel by Kantar, noted the steady rise in promotions over the past 11 months as retailers respond to consumers’ desire for value. Deals have translated into substantial savings for shoppers, with an estimated £1.3 billion saved in the latest four-week period, equating to nearly £46 per household.

The emphasis on promotions, coupled with price decreases in categories such as toilet tissue, butter, and milk, has contributed to a reduction in the rate of grocery inflation at the checkout.

Easter festivities further bolstered supermarket sales, driven by increased demand for chocolate eggs. Kantar reports a surge in chocolate confectionery consumption, with 93 million more instances recorded in the year to June 2023 compared to the preceding decade.

Additionally, fruit has gained traction as a popular snack choice among Britons, with 314 million more fruit pieces consumed between meals in 2023 than in 2013.

Amidst fierce competition among supermarkets, loyalty cards and price-matching schemes have become integral tools for retaining customers. Online retailer Ocado, in partnership with Marks and Spencer, stands out as the fastest-growing grocer, with sales surging by 12.5% in the 12 weeks to 14 April, outpacing the total online market growth of 6.8%.

Tesco and Sainsbury’s, Britain’s largest grocers, have bolstered their market shares, each gaining 0.4 percentage points. Lidl achieved a record 8.0% share, fueled by sales growth of 9.1%, while fellow discounter Aldi reclaimed a 10.0% market share, reflecting a 2.8% sales increase. The competitive landscape underscores the ongoing battle for consumer attention and loyalty in the UK’s grocery sector.

Read more:
Chocolate Cravings and Bargain Hunts Drive Down UK Food Inflation for 14th Consecutive Month

0
FacebookTwitterGoogle +Pinterest
previous post
Georgian opposition parties urge mass protests against ‘Russian’ bill
next post
Regional Tech Start-ups Thrive on Barclays Eagle Labs Accelerator Scheme

You may also like

The Most Common Mistakes Teams Make When Pitching...

December 10, 2024

eBay announces small business grants to boost income...

December 8, 2022

Dyson to open £100m technology centre in Bristol

May 3, 2023

Santander UK partners with Unibeez to help UK...

April 19, 2023

Small business leaders demonstrate their desire to help...

October 23, 2023

Why You Can’t Afford to Ignore Hyperpersonalisation in...

April 1, 2025

Why Durable Workwear Matters in Demanding Industries

September 20, 2024

Growing a Faceless Video Channel on Instagram: How...

August 12, 2024

UK Government Quietly Pauses Natwest Retail Bidding Process

April 1, 2024

Rishi Sunak returns to alma mater with new...

January 22, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Zenger at 290: The Jury’s Duty to Say No to Government Oppression

      August 4, 2025
    • What Is SameAgeDates? A Closer Look at Presence‑Driven Dating

      August 4, 2025
    • Cryptocurrency Trading: Five Strategies to Strengthen Your Position as a Reputable Broker

      August 4, 2025
    • UAE’s World’s Safest Country Ranking Creates ‘Safety Premium’ in Real Estate Market

      August 4, 2025
    • GOP memo preps House Republicans to tout Trump’s ‘big, beautiful bill’ as Dems go on offense

      August 4, 2025
    • Cornyn takes swing at James, Schiff with new LETITIA Act targeting ‘crooked politicians’

      August 4, 2025

    Categories

    • Business (8,661)
    • Investing (2,171)
    • Politics (16,296)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved