Customers saved GBP58 in the last year supermarket of price wars

British households have been said to have saved an average £58 over the last year, according to figures that have been reported giving the lay of the land for the supermarket sector in the run up to October
The cut prices that have been seen across the big four stores, as they have been competing with each other, and with the German discounters, to try and attract customers and regain market share.
However, Sainsburys was the only one out of the big four (constituting Sainsburys, Tesco, Morrisons, and Asda) to have seen sales growth. In the 12 weeks leading up to 11 October, the year on year sales of Sainsburys grow by 1.1 per cent.
Tesco saw a fall of 1.7 per cent, Morrisons sales fell by 1 per cent, and Asda, who suffered the biggest dip, dropped by 3 per cent.
The Walmart owned chain also saw a significant loss of the market share, dropping down to 16.6 per cent from 17.3 per cent.
On the other hand, Waitrose, who, despite aiming for audiences able (and willing) to pay out premium prices, saw a 2.1 per cent rise in sales. However, these figures come just as the boss Mark Price has stepped down from his position.
“Consumers have now enjoyed more than 12 months of continually falling prices and are currently pocketing these benefits rather than splashing out on substantially more grocery items, with overall volume growth of just 2 per cent,” according to Fraser McKevitt, head of retail and consumer insight of Kantar Worldpanel.