Sainsburys Loses GBP11m Worth Of Business To Rivals

Sainsbury’s has lost business to its rivals for the first time since the start of the economic recession, according to confidential new data from TNS Worldpanel seen by The Times.
The market researcher’s ‘customer switching’ report found that over £11m of spending went to the retailer’s competitors during the 12 weeks to November.
Around £4m was lost to upmarket grocer Waitrose, which has seen sales rocket since the launch of its value Essentials range in March, and £2m of spending was switched to arch rival Tesco, suggesting its offer of double Clubcard points has helped lure shoppers from Sainsbury’s.
A further £2.5m was taken by discount chain Aldi, which according to The Times shows that Sainsbury’s faces competition from both ends of the supermarket sector.
The findings come a week after the retailer reported growing customer numbers and market share, and a better than expected profit of £342m for the 28 weeks to October 3.
Sainsburys chief executive Justin King also announced ambitious expansion plans to increase space by 15 per cent by March 2011.
A Sainsbury’s spokesperson said: “We continue to grow market share and we are now serving over 18.5 million customers each week, up 800,000 on this time last year. We also have an excellent growth opportunity through our expansion plans.”