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UK: Aldi, Lidl, Netto and Iceland score in harder times
Theo Paphitis, star of Dragon's Den, claims that he would rather stick razor-sharp pins through his eyes than shop at Lidl. But just as cheaper pubs and restaurants are gaining from the credit crunch, “hard discounters” such as Lidl, Aldi and Netto are picking up thousands of shoppers in the supermarket sector.
Market research shows that sales at Lidl were up 9.6 per cent in the 12 weeks to May 18, while Aldi recorded an 18.9 per cent surge. Unglamorous frozen-food retailers are also cashing in, with Iceland notching up sales growth of 12.2 per cent.
Customers have not deserted Marks & Spencer or Waitrose, but are mixing and matching - picking up an expensive ready meal at the same time as food from the basics range.
Yet the inflationary pressure is growing and it is becoming ever harder for retailers, pubs and restaurant groups to absorb higher costs and to protect consumers. Research shows that fusilli pasta is costing 110 per cent more in Tesco, Asda and J Sainsbury than a year ago; garden peas are up 60 per cent.
Tesco has already reacted by “resetting” its ranges to add more value lines. A similar trend is likely to be seen across the retail and hospitality sectors, with special offers offered to lure in customers.
Retailers with strong balance sheets will be able to ride out the credit crunch, but those in a weaker position face their toughest test for more than a decade.
Source: business.timesonline.co.uk
Theo Paphitis, star of Dragon's Den, claims that he would rather stick razor-sharp pins through his eyes than shop at Lidl. But just as cheaper pubs and restaurants are gaining from the credit crunch, “hard discounters” such as Lidl, Aldi and Netto are picking up thousands of shoppers in the supermarket sector.
Market research shows that sales at Lidl were up 9.6 per cent in the 12 weeks to May 18, while Aldi recorded an 18.9 per cent surge. Unglamorous frozen-food retailers are also cashing in, with Iceland notching up sales growth of 12.2 per cent.
Customers have not deserted Marks & Spencer or Waitrose, but are mixing and matching - picking up an expensive ready meal at the same time as food from the basics range.
Yet the inflationary pressure is growing and it is becoming ever harder for retailers, pubs and restaurant groups to absorb higher costs and to protect consumers. Research shows that fusilli pasta is costing 110 per cent more in Tesco, Asda and J Sainsbury than a year ago; garden peas are up 60 per cent.
Tesco has already reacted by “resetting” its ranges to add more value lines. A similar trend is likely to be seen across the retail and hospitality sectors, with special offers offered to lure in customers.
Retailers with strong balance sheets will be able to ride out the credit crunch, but those in a weaker position face their toughest test for more than a decade.
Source: business.timesonline.co.uk
Publication date: 6/18/2008
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