M&S has surpassed Waitrose to become Middle England’s preferred grocer for the first time outside the festive season. The change in consumer preference was observed over the last month, as M&S recorded significant sales growth.
- New market data shows M&S exceeded Waitrose in sales and market share during a non-holiday period.
- M&S achieved a 4.03% share of the grocery market, climbing from 3.76% the previous year.
- Waitrose’s market share decreased to 3.91%, down from last year’s 4.02%.
- Analysts highlight M&S’s increased sales are attributed to its competitive prices and innovative product lines.
For the first time outside of the festive period, M&S has overtaken Waitrose as the favourite grocer for Middle England, according to recently accessed market data. The new data, unveiled by The Telegraph, indicates that M&S experienced unprecedented sales growth over the past month, outperforming all other supermarket rivals.
According to Kantar, M&S’s share of the grocery market expanded to 4.03% for the four weeks ending 3 November, in contrast to 3.76% the previous year. During this same time frame, Waitrose’s market share felt a decline, sliding from 4.02% to 3.91%.
M&S also led in sales growth among supermarkets with a year-on-year increase of 11%, surpassing other notable grocers such as Lidl with 6.9%, Sainsbury’s at 6.3%, and Tesco at 5.8%. Waitrose, on the other hand, saw a more modest growth of 1%, only performing better than Asda and the Co-op.
Industry analysts view the latest Kantar data as a definitive indicator of M&S’s energetic momentum. Recent financial reports show a surge in half-year profits driven by robust clothing and food sales, marking four consecutive years of market share gains for M&S.
Critical drivers behind M&S’s grocery sector growth included strategic pricing and dynamic product innovation, specifically in produce, meat, and dairy sectors, leading to what the company claims to be the ‘strongest value perception in over a decade.’ Profit before tax grew by over 17% for this period, reaching approximately £407.8 million.
The shift in market dynamics underscores M&S’s strategic success in capturing increased consumer interest and market presence.
