• Fri. May 24th, 2024

The S Group’s Affordable Strategy Boosts Market Share: Nielsen IQ Insights

BySamantha Jones

Mar 27, 2024
S Group’s market share increased last year as the sole trading group

Despite a decline in grocery store sales for the second consecutive year, there was one bright spot in the industry: The S Group. Their market share increased by 1.3 percentage points to 48.3 percent, thanks to price reductions that appealed to consumers struggling with reduced purchasing power. Grocery sales grew by 8.9 percent from the previous year, outpacing the market.

In contrast, the K Group and Lidl experienced slower sales growth compared to the average value development. The overall sales volume of grocery stores declined by 1.1 percent from the previous year, despite a six percent increase in sales value due to rapid inflation.

The S Group’s grocery store manager attributed their success to maintaining an affordable shopping basket strategy by reducing food prices starting from March. The K Group focused on throw-in offers and low-cost own products, while Lidl emphasized affordability by launching a new loyalty program. Online grocery shopping accounted for 626 million euros in sales, growing by 6.7 percent, albeit slower than the previous year.

According to market research company Nielsen IQ, these trends are reflected in their annual grocery store register data, which has been compiled annually since 1978 and provides insights into the performance of the industry over time.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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