M&S food retail business saw strong sales growth at the start of the year, according to NIQ data
In the 12-week period ending January 27, M&S reported a substantial year-on-year sales growth of 11.6%, trailing only German-owned Lidl (which saw a sales increase of 13.2%).
Tesco and Sainsbury's reported sales growth of 6.9% and 8.4% respectively.
Asda and Morrisons underperformed with lower sales growth rates compared to other supermarkets.
In the same period, total sales at all UK supermarkets rose by 6.6% compared to the previous year.
A silver lining for shoppers emerged as food inflation eased slightly to 6.1%, marking its lowest level since June 2022, according to NIQ's report.
NIQ saw a drop in promotional activity from 26% to 23%, but full-price sales stayed strong.
The share of online grocery sales in the overall grocery market held steady at 11.2%.
Retail sales were weak in January due to economic uncertainty.
NIQ's report offers early trends in the UK food retail market for 2024.
Competitors - A Closer Look at Sales Growth Rates
By comparing the sales growth rates of M&S with its competitors, we can gain a better understanding of the relative performance of each retailer in the market.
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