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The Markets
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Retail

Waitrose scores fastest monthly growth since 2021

Waitrose saw its fastest rate of growth in March since September 2021, after cutting own-brand prices a month earlier

Waitrose achieved its fastest rate of growth since September 2021 in March, scoring a 2.1% rise in sales after cutting prices a month earlier.

Total till roll at the supermarket chain owned by John Lewis Partnership topped £1.43bn in the 12 weeks to March 19, a rise from the £1.40bn recorded a year earlier, according to Kantar data.

Its sales growth had sat at 2.2% in September 2021, but fell to -1.9% in October last year as higher living costs deterred shoppers.

Waitrose committed £100mln to cut prices of its own branded goods from February in response to cost-of-living squeezes - a strong move given that own-labelled goods sales rose 15.8% across the sector in March.

It slashed the prices of 300 basic goods by an average of 14%, looking to target shifting consumer habits, which have seen people take to cherry-picking groceries.

Despite this, people kept "space in their baskets for the brands they know and love," Kantar said, reporting branded goods made up 52% of sales during the month, growing 7.2% - the fastest rate seen since February 2021.

Waitrose's market share did shrink marginally though, from 4.8% to 4.5%, as discounters Aldi and Lidl made leeway in the supermarket space.

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