Shares in J Sainsbury PLC (LSE:SBRY) held firm against the weak market as industry data showed its biggest increase in shopper numbers in more than a decade as it steps up a price battle with Aldi and Lidl.
Britain’s second-biggest supermarket increased its share of the grocery market to 15.6% at the end of November from 15.2% at the end of October, according to new figures from market research group Kantar.
It was Sainsbury’s largest market share gain since March 2013.
It comes just weeks after the supermarket claimed it was regaining momentum in the battle against discount retailers after scaling up its Aldi Price Match scheme.
Around 400 products are now included in the initiative, which first launched in 2021.
Sainsbury’s chief executive Simon Roberts said the company was winning shoppers from all its supermarket rivals including Aldi and Lidl, adding: “We’re the only supermarket that can say that and it’s happening now because we are at our most competitive ever.”
Kantar’s Fraser McKevitt said Sainsbury’s growth was boosted by higher demand for its own-brand products.
“Sales of its popular ‘Taste the Difference’ range were up by a whopping 23% year on year.," he pointed out.
Tesco PLC (LSE:TSCO) also gained market share for the fifth consecutive month, rising to 27.5% from 27.4% at the end of October.
At the same time, Aldi’s market share slipped to 9.6% from 9.7% over the same period.
Lidl’s market share, however, ticked higher to 7.8% from 7.6%, although it is thought to be stealing share from rivals including Morrisons and Asda.
Shares in Sainsbury rose 0.3% and Tesco advanced 0.6%, bucking the weak market.