Newly released industry figures suggests that the Co-op is UK’s fastest growing non discount retailer. Market researcher Kantar Wordpanel research figures shows that the total sales of the Co-op accented 1.4% in 12 weeks to 31 January, for the first time in five Years. The supermarket’s decision to focus more on convenience has been credited as the major reason behind its better performance. Kantar says that its shoppers went to Co-op at an average of 19 times during the 12 weeks. This compares to a market average of eleven visits.
The figures released suggests that the Co-op is the most Frequently Visited Supermarket in UK. Co-op has revamped many of its old stores and opened around 100 new stores during the period. of its 2,800 total outlets around 2,200 has been classed as convenience stores. Sainsbury performed the best with a 0.6 percent rise in its sales. With this rise, the company’s market share rose 0.1 percentage points to 16.8 percent. Interestingly all the other Supermarkets among the big four lost marketshare. Having said, Tesco showed serious signs of betterment with its best performance since September 2015. Even though the total sales went down 1.6 percent, the share were up by 1.7 percent at 175.4 pence for the supermarket.
Fraser McKevitt, Kantar’s head of retail and consumer insight, said: “Consumers are clearly striving for a healthier start to the year and have turned to fresh foods – particularly fruit and vegetables, which have both grown sales by 5%. Given that they’re still experiencing like-for-like deflation it’s a significant revenue growth for both categories, shared across both traditional and discount retailers. Similar growth has been seen in nuts, fresh poultry and fish.”