Waitrose saw the second-highest rate of year-on-year sales growth, at 15.5 per cent. (Photo: Waitrose)

Waitrose reaches record market share

UK upmarket grocer Waitrose has reached a record share of supermarket sales as shoppers continue to eat at home during the still tough economic times.

Waitrose's market share increased to 4.3 per cent in the 12 weeks to February 21 as the firm also upped store numbers, according to the latest data from industry researcher Kantar Worldpanel.

The John Lewis Partnership-owned supermarket saw the second-highest rate of year-on-year sales growth, at 15.5 per cent, after the Co-operative's 16.3 per cent increase, which was boosted by the takeover of Somerfield, reports The Press Association.

Waitrose Managing Director Mark Price is determined to double sales and marketing share over the next decade as the supermarket chain is planning to open a number of new stores, reports The Sun.

Price aims to push Waitrose's sales up from GBP 5 billion (EUR 5.55 billion) to GBP 10 billion (EUR 11.1 billion) and its market share up to around 8 per cent by 2020.

Fraser McKevitt, Kantar Worldpanel retail analyst, said Waitrose had chipped away at market share mainly from Sainsbury's and Marks & Spencer, but also attracted casual custom from Tesco and Asda.

"They have opened a lot of new stores, which have helped their sales figures. It has made a Waitrose accessible to much more of the population," said McKevitt.

"They have managed to prove that even in a recession the search for value doesn't necessarily mean buying the cheapest. With people not eating out that much there is more of a willingness for people to spend money on eating in."

Tesco's market share was 30.4 per cent last month, up from 30.1 per cent in February 2009.

Asda -- owned by US giant Wal-Mart -- had its market share dip in January for the first time in two years and the firm was again lower against 2009, with a share of 17 per cent in February, compared with 17.2 per cent in the previous year.

Meanwhile, Waitrose has plans to open new stores, build partnerships and introduce new products. Mark Price said that there is great potential for 23 stores in the United Arab Emirates.

The supermarket also reportedly has plans to open its first smaller convenience store format in the coming two months.

By Michel Loubet
[email protected]
www.seafood.media

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