M&S named fastest growing grocer in 2022 so far

Marks & Spencer has been named the fastest-growing grocer over the last 12 weeks according to new data from NielsenIQ.

According to figures, the grocer grew 12.2% as shoppers returned to retail parks, the high street and travel outlets. Market share also increased to 3.6%, the highest since Q4 in 2017.

However, retailers warned that shopper habits are set to change as inflation grows and supermarkets are impacted by global food supply disruption.

Around 19% of UK shoppers are classed as ‘strugglers’ having experienced job or income loss due to Covid 19.

Moreover, Global crop yields are expected to drop by 50% due to fertiliser shortages driven by the war in Ukraine.

READ MORE: M&S Food grows market share in 2022

Soaring costs of metals will see price hikes in canned goods in the UK, according to the London Metal Exchange (LME).

“Although we are seeing a stabilisation of shopper spend, inflation at supermarkets has increased since the start of the year to +2.7%, the highest we’ve seen since September 2013,” NielsenIQ’s UK head of retailer and business insight Mike Watkins said.

“The pandemic may soon be behind us, but new threats are on the horizon. Global food supply disruption and soaring energy and fuel costs, are set to impact shopper baskets and have the potential to slow down any growth in supermarket volumes.”

“Retailers and their suppliers must be prepared for the uncertainty that lies ahead and ensure they are taking every step possible to support shoppers in balancing budgets over the next few months.”

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