Take-home grocery sales rose by 4.6% over the four weeks to 17 March, with an early Easter boosting sales of seasonal treats in the first three months of 2024 by £88m compared with the same period last year, new data reveals.
The data from Kanar shows that consumers have been stocking up on classic seasonal treats, with a quarter of people picking up four or more items when buying chocolate eggs, this rises to 29% for shoppers aged over 65. Volume sales of hot cross buns are also up by 15% versus last year.
Fraser McKevitt, Head of Retail and Consumer Insight, Worldpanel Division, UK, said: “Spring brought good news for consumers as grocery price inflation eased to 4.5% over the four weeks to 17 March, the lowest level since February 2022. Grocery inflation has come down significantly since hitting an eye-watering peak of 17% in March 2023. However, despite this continued slowdown, many British households are still feeling the squeeze, with 23% identifying themselves as struggling financially – the same proportion as reported in November last year.
“Shoppers remain on the hunt for value and among those feeling most pressured, 78% are actively buying cheaper groceries, while 68% are using promotions to help manage budgets. Retailers appear to be responding in kind, with the emphasis on discounts and price match schemes continuing this period.”
The data shows £605m more was spent on deals this month than in March last year, while nearly one third of baskets across Tesco, Sainsbury’s and Asda collectively contained at least one price matched product.
Premium own-label lines have been a big beneficiary of consumers trading down, growing by 16.1% this month – the quickest rate in nearly three years. However, sales of branded goods pushed just ahead of own label overall, increasing sales by 6.1% and 4.7%, respectively in the latest four weeks.
