Amid signs that its growth is slowing, Aldi has been named the cheapest supermarket in the UK for the third month in a row.
On a selection of 71 popular food items analysed by consumer watchdog Which?, the discounter charged a total of £121.06 in March, compared to £122.95 at Lidl.
Despite leading on price, data released by Kantar last month showed that Aldi’s sales had growth slowed to 3.1% (from 5.7%) over the 12 weeks to 17 March, with its market share edging down 0.1 percentage points.
Earlier this week, Aldi vowed to reduce more prices in 2024 than in any previous year, saying the move is part of its commitment to never be beaten on price.
Meanwhile, the Which? data confirmed that Waitrose was the UK’s most expensive mainstream supermarket, with an average price of £158.52 – around 31% more than Aldi.
Of the traditional ‘big four’ supermarkets, Asda was the cheapest at £138.31, while Tesco charged less than £1 more for an equivalent shop at £139.23.
NAM Implications:
- Lowest prices and falling share…
- The issue will be whether Aldi global will finance further UK price cuts to re-establish its growth trajectory…
- …or allow the market to determine its future.
