Sales growths in the grocery sector slip to 4.5 per cent YoY

Asda and Tesco pulling in thousands more shoppers but fortunes are mixed. Underlying sales performances from the major food retailers in Britain would suggest a weakening of the grocery market, according to latest figures released today by market research company Nielsen. Value sales growth at Grocery Multiples has slowed to 5.4% YoY for the 12 weeks ending 4th October 2008 versus the same period in 2007 driven by flagging performances in the latest 4 weeks of this period where growth slipped to only 4.5% YoY. This is a full percentage point behind August growth levels. Mike Watkins, senior manager retailer services at Nielsen commented: "Shoppers are still trading down. The 'cascade of custom' from those retailers with a premium proposition to those that have a heritage in value for money and price continues. Family shoppers... [read full story]