Marks and Spencer Group PLC (LSE:MKS) was named the UK’s favourite supermarket by a leading consumer group for the first time in its history, while rising prices improved the prospects of cheaper alternatives.
A survey by research group and Which? ranked M&S top of the leaderboard, with consumers turning to M&S to spend excess income on luxury items through the height of the Covid pandemic, with customers hailing the presentation of its stores and high-quality products.
But M&S was lower ranked for value for money, a factor likely to become increasingly relevant as UK consumer inflation hit 5.5% in January, with cheaper alternative Aldi ranked just below M&S for popularity.
“Shoppers have chosen M&S as their favourite supermarket for a great in-store shopping experience and quality products,” Harry Rose, magazine editor at Which? told reporters.
“But with the cost of living continuing to rise, many people are looking for quality at the cheapest possible price, and this is reflected by a strong showing in our research for some of the least expensive supermarkets.”
The UK’s four big supermarkets – Tesco PLC (LSE:TSCO), J Sainsbury PLC (LSE:SBRY), Asda and Wm Morrison Supermarkets PLC (LSE:MRW) – were all ranked in the bottom half of the table, with low-cost competitors like Iceland and Aldi sitting in the top half.
Meanwhile, Co-op was ranked last with surveyed customers calling it "expensive", "always crowded" and with "long queues at checkout".
“Which?'s survey s results are based on a sample of just over 200 people but each week more than 15 million shoppers overwhelmingly vote with their feet and visit our community stores,” a Co-op spokesman told the Grocery Gazette