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UK grocery price inflation resumed its slowdown, while Ocado delivered its quickest rate of growth since May 2021, figures on Tuesday showed. Supermarket prices were 1.7% higher than a year ago in the four weeks that ended September 1, slowing from 1.8% growth in August, according to retail sector analysts Kantar. As price inflation eased, sales picked up. Take-home sales at the grocers rose by 3.0% over the 12 weeks to September 1 to £33.59 billion from £32.62 billion one year ago. Ocado was the fastest growing grocer for the seventh consecutive month, delivering its quickest rate of growth since May 2021 with sales up by 13% to £607 million from £537 million. This put it ahead of the total online market, which expanded by 4.4%. The online-only retailer’s market share increased by 0.2 percentage point, to 1.8% from 1.6% a year prior. Ocado Retail is a joint venture between Ocado Group PLC and Marks & Spencer Group PLC. Britain’s largest retailer Tesco PLC now takes 27.8% of sales, an increase of 0.6 percentage points from 27.2% last year and its highest market share since January 2022. Sales rose 5.3% to £9.33 billion from £8.86 billion a year ago. J Sainsbury PLC’s market share nudged up to 15.2% from 14.8% a year ago while sales increased by 5.7% to £5.10 billion from £4.82 billion. Lidl’s sales were 9.1% higher than a year ago at £2.70 billion from £2.47 billion, with footfall in August boosted through digital vouchers for bakery items. It now accounts for 8.0% of the grocery market, rising from 7.6% a year ago, having won share every month since April 2021./ Spending through fellow discounter Aldi’s tills rose by 1.3% to £3.33 billion from £3.28 billion, although its market share slipped to 9.9% from 10.1% a year ago. Sales at Waitrose increased by 4.0% to £1.55 billion from £1.49 billion, while its share of UK grocery spending was unchanged at 4.6%. Frozen-food specialist Iceland grew by 4.4% to £782 million from £749 million, keeping its market share level at 2.3%. Convenience retailer Co-Op now takes 5.9% of sales compared with 6.1% a year ago. Asda’s market share fell to 12.6% from 13.8% and Morrison’s has 8.5% of the market, little changed from 8.6% last year. Shares in J Sainsbury were flat at 299.80 pence in London on Tuesday. Tesco fell 0.9% to 365.50p, Ocado rose 1.0% to 340.38p and Marks & Spencer rose 0.5% to 354.40p. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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