M&S is set to surpass Waitrose’s market share after winning back middle-class shoppers, according to data from industry group Nielsen.
Its figures revealed that M&S now has a 3.8% market share, equal to rival upmarket grocer Waitrose and a significant jump from 2021 when M&S held just 3.2% compared to Waitrose’s 4.2%.
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Now industry experts predicts that this year will see M&S overtake Waitrose.
M&S is also forecast to increase its lead for clothing and home over John Lewis, with industry experts forecasting that M&S will own 3.9% of the market by 2027, up from 3.7% currently, according to This Is Money. That compares to a current and forecast 2.3% share for John Lewis.
The news will come as a blow to the Waitrose owners, the John Lewis Partnership, which has struggled in recent years, accumulating £234m in losses in 2022.
Last month the business announced a series of job cuts as exiting chairman Sharon White claimed the partnership is attempting to reverse the tide and is now on track to “build back to sustainable profit for the business”.
