Tesco loses market share as shoppers go bargain hunting
Tuesday 11 March 2014
Tesco's high-street dominance continues to be eroded, with the latest data showing that the retailer’s market share has slipped to a 10-year low as shoppers desert it for discounters Aldi and Lidl.
The retail stranglehold of the UK’s biggest supermarket was loosened still further to a share of 28.7 per cent in the 12 weeks to March 2, from 29.6 per cent a year earlier, according to Kantar Worldpanel.
That is its lowest level since 2004 and the start of its rapid expansion under Sir Terry Leahy.
By comparison, Aldi and Lidl continue to grow strongly, with the former hitting record year-on-year growth of 33.5 per cent taking a 4.3 per cent market share.
Morrisons is also struggling, with sales falling 3.2 per cent — worse than any of its rivals – and adding to the pressure on chief executive Dalton Philips, who will unveil a heavy decline in profits later this week.
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