Lidl has reported its strongest Christmas period in Britain, with sales up 7 percent year-on-year in the four weeks to December 24, surpassing the £1 billion mark for the first time.
Two million extra shoppers visited the stores over the festive period, lured by cheap champagne and an ‘affordable’ range of party food, boosting sales by almost a third.
The German grocer revealed a 25 per cent increase in champagne sales, the equivalent of 11 million glasses poured, while British turkeys remained favourites, selling at a rate of one per second. Customers also snapped up 16 million pigs in blankets, 8 million stuffing balls and 2 million gallons of gravy.
Ryan McDonnell, CEO of Lidl GB, said the retailer’s mix of “unbeatable quality and value” had attracted more customers than ever, adding that the company would “build on our momentum” through continued store openings and competitive pricing .
Lidl’s market share has continued to rise as the rising cost of living drives consumers to seek value. Industry analysts at Kantar recently named Lidl as the country’s fastest-growing brick-and-mortar grocer, closing in on Morrisons’ position as Britain’s fifth largest supermarket.
Although growth is slower than the 12 percent increase in the same period a year ago – when food and drink inflation was more apparent – Lidl’s performance stands out as many consumers have curtailed supermarket spending to focus on smaller indulgences such as beauty products. and entertainment products.
The supermarket sector will come under further scrutiny in the coming week when Sainsbury’s and Marks & Spencer reveal their festive figures. Meanwhile, the British Retail Consortium has warned of a possible “spending squeeze” in January, with consumer confidence taking a hit towards the end of the year.