Aldi has taken £170m of sales from major supermarkets including Tesco, Sainsbury’s, Asda and Morrisons in the past three months as it continues to increase its market share across the UK.
According to the latest figures from Swiss investment banking company Credit Suisse, which were compiled by research firm with Kantar, major supermarkets have been playing ‘catch-up’ to Aldi while customers flock to them for low prices.
The study found that the former Big 4 supermarkets – Tesco, Sainsbury’s, Asda and Morrisons – have lost £170 million worth of sales to the German discounter since the start of the summer.
Tesco reportedly accounted for more than a third of the £170 million loss, according to figures leaked to The Grocer. However, the supermarket giant has been trying to remain competitive with its Aldi Price Match Campaign, which analysts have said is performing well against its other peers despite the setbacks.
While supermarkets are battling with rising costs and inflation as the cost-of-living crisis continues to bite, Aldi overtook Morrisons to become Britain’s fourth biggest retailer last month.
The research also said there was evidence of a small shift in spending to Aldi from rival German operator Lidl, which similarly offers low prices and discounts.
“The discounters seem likely to go through a period of strong growth in the looming consumer squeeze,” Barclays analyst James Anstead said in a report last week.
He added that cost pressures in the grocery sector may remain “higher for longer” and could weigh on profit this year and next.
The news comes as discounters Aldi and Lidl are having new store opening plans interrupted due to planning objections by rival supermarkets.
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You can stop using ‘discounters’, it makes your reporting sound so dated.