Sainsbury’s chief executive Simon Roberts has said that “the level of switching into Sainsbury’s is the biggest of all of competitors” following its “market-beating grocery performance” in the first quarter of 2024.
Over the past 15 months, the grocer claims it has consecutively made gains from competitors. Roberts said: “Everyone’s working hard to win customers, but we’re winning more net customers into Sainsbury’s than anybody else.
“With strong switching gains from across the whole of the market. We’ve delivered a step change in the value that we deliver for customers day in, day out with now over 98% of big baskets including Nectar prices, or Aldi Price Match products.”
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He highlighted that the retailer is winning customers across the board, from the limited choice supermarkets such as Aldi and Lidl as well as the premium retailers, attributing the success to Sainsbury’s offering “the best quality and value”.
As well as winning customers, Roberts noted that Sainsbury’s is gaining volume from its biggest competitors as it has delivered a second year of volume growth.
It comes as total sales grew 4.2% at the retailer, while grocery sales were even stronger, up 4.8% in the 16 weeks to 22 June.
As a result of the performance, which Roberts said has seen the food business going “from strength to strength”, Sainsbury’s has maintained its forecast of full-year retail underlying profit hitting between £1.01bn and £1.06bn, up between 5% and 10% on last year.
1 Comment. Leave new
How is that possible given that their organic granola is >10% more than asda’s? And sainsbury’s’ cheapest 2l spring water that they had sold was priced at 17p, yet now the cheapest is 80p.