Tesco, the UK’s largest retailer, has increased its share of the grocery market for the first time in almost two years, according to latest figures from market researchers TNS Worldpanel.
Total sales at the chain rose 4.7 per cent in the 12 weeks to November 1, ahead of the market average of 4.4 per cent, as the supermarket giant benefited from its Clubcard double points promotion.
This pushed Tesco’s market share to 30.7 per cent, slightly ahead of the 30.6 per cent recorded a year earlier and the first time the retailer has shown growth in market share since the end of 2007.
But despite the small market share growth, the TNS data revealed that Tesco continued to lag behind its major rivals.
Sales at Morrisons rose by 8.5 per cent year-on-year over the 12 weeks to November, while Asda and Sainsburys experienced growth of 6.6 per cent and 5.6 per cent respectively.
Takings at upmarket chain Waitrose surged by an impressive 12.3 per cent over the same period – its best performance for four years – lifting its market share from 3.7 per cent to 4 per cent.
