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Gloucestershire Business News

Sales at UK supermarkets fall to lowest level since January

Total sales across UK supermarkets plummeted 7.2% in the four weeks ending 12th August, according to market researcher NIQ.

The figures marked the lowest supermarket sales level since January.

The company attributed the drop to lower inflation and unseasonable weather over the summer, Retail Gazette reported..

Shoppers visited stores fewer times (-0.5%) over the last four weeks compared to the same period last year.

Retailers also increased their spend on promotional activity to 23%, up from 22.5% the previous month, on all fast-moving consumer goods to encourage shoppers to spend more.

In-store sales maintained stronger growth of 7.9% over online sales (3.8%) during the past four weeks.

Meanwhile, NIQ found Tesco saw a rise in sales (9.7%) and gained market share over the latest 12 weeks.

An NIQ spokesman said that despite lower inflation, most consumers remained pessimistic about their financial situation in the coming three months, with 60% anticipating they would be severely or moderately impacted by rising living costs.

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