SUPERMARKET SWITCH: LIDL SEES SPEND FROM ‘PREMIUM SUPERMARKETS’ JUMP BY £10M YOY
According to recent findings, savvy consumers looking to save money on their groceries are shunning upscale supermarkets in favour of Lidl GB.
Lidl has received a total of £120 million over the last 12 months from households who prefer the discounter to expensive supermarkets. Homes transferred about £11 million from M&S, Waitrose, and Sainsbury’s in January alone, a rise of over £10 million from the previous year.
Lidl’s fruit and vegetable selection, which recently hit a market share high of 10.2% as consumers increasingly resort to the discounter for its superior fresh produce, has contributed to the YoY growth. As Lidl continues to overtrade across the category, customers are especially drawn to the discounter by its fresh meat and poultry, which also reach a new record market share.
“It’s evident that a lot of buyers are now unwilling to pay a premium for their food,” said Ryan McDonnell, CEO of Lidl GB. As 2023 approaches, more people are entering our store and shifting their spending from high-end supermarkets to Lidl. We are aware that clients initially switch to us to save money, but they eventually decide to stay with us once they realise they won’t have to sacrifice quality.
Independent research by The Grocer found that Lidl GB was £10.31 less expensive than Sainsbury’s and £24.82 less expensive than Waitrose on shopping lists from all around the country, including fresh food and branded goods. In the Super 33 monthly price comparison, Lidl GB was also shown to be the least expensive for 21 goods.
The discount retailer revealed plans to invest £4 billion in the British food industry last week, speeding up initial spending plans announced in 2019. At the time, Lidl GB committed to a five-year investment of £15 billion in the British food industry across FY20 – FY25; the amount is now anticipated to reach £17 billion.
Notes to Editors
For more information please contact: firstname.lastname@example.org
About Lidl GB
Since establishing itself in Great Britain in 1994, Lidl GB has experienced continuous growth and today has over 28,000 employees, over 950 stores and 13 distribution centres in England, Scotland and Wales.
As part of the Schwarz retail group, Lidl is one of Europe’s leading organisations in the food retail industry. The supermarket, which has more than 360,000 employees globally, currently operates approximately 12,000 stores and more than 200 warehouses and distribution centres in 31 countries.
The supermarket takes pride in providing its customers with the highest quality products at the lowest possible prices throughout Great Britain, from Kirkwall to the Isle of Wight. Social responsibility and sustainability are at the core of the company’s daily operations, with the company placing a strong emphasis on its responsibility for people, society, and the environment. Lidl GB is passionate about working with British producers and sources two thirds of its products from British suppliers.
The Schwarz Group, which operates worldwide as a retail group, generated a turnover of €133.6 billion in the financial year 2021.
For more information about Lidl GB visit https://corporate.lidl.co.uk/