Supermarkets are continuing to perform well despite the bleak outlook for the overall economy, a new study has said.
According to Nielsen, like-for-like sales at Asda were up almost 8% during the 12 weeks up until August, as they rose by more than 9% at Morrisons.
The figures come after another set of statistics were published by TNS Worldpanel that said Lidl and Aldi have boosted their market share.
Senior manager of retailer services at the data analyst Nielsen Mike Watkins revealed that consumers are looking to take advantage of cheaper short-term promotions during the credit crunch.
He said: “Shoppers are clearly taking advantage of the short-term price cuts and promotional deals that all of the major supermarkets have been running to help keep spending within their family budgets.”
Overall sales grew by 5.8% during the quarter, Nielsen noted, below the average of about 6% for the year.
Watkins asserted that shoppers are “hunting out good value” in a bid to save cash as the economy slows down.
