The Strategist

UK’s food sales to exceed £13B for the first time in December

12/06/2023 - 02:17

According to research firm Kantar, food sales in the UK will surpass £13 billion ($16.4 billion) for the first time in December 2023.

diamond geezer
diamond geezer
The analysts predicted that while customers will purchase 10% more items in December on average due to Christmas, inflation will also help growth in 2023.

"It looks like the spending at supermarket checkouts will set a new record this Christmas," Kantar notes.

The busiest shopping day is expected to be Friday, December 22.

The price of a four-person Christmas dinner has increased by just 1.3% this year, at £31.71, while total food prices have increased at the slowest annualized rate since July 2022—9.1% in November compared to 9.7% in October. The analysts add that this highlights the intense competition that exists among merchants for the Christmas shoppers.

Food sales in the UK increased 6.3% to £11.7 billion in the four weeks ending November 26. The percentage of products sold through promotions hit its highest level in almost two years. Store-owned brands saw a 6.4% increase in sales, while other brands saw a 6.5% increase.