For the first time outside the festive season, M&S has overtaken Waitrose to become Middle England’s leading grocer.
According to exclusive data from Kantar seen by The Telegraph, M&S’s grocery market share climbed to 4.03% for the four weeks leading up to November 3, compared to 3.76% during the same period in 2023, marking a significant achievement. In contrast, Waitrose’s market share declined from 4.02% last year to 3.91%.
Additionally, M&S experienced an 11% increase in sales over the past month, surpassing all other grocers in growth. Lidl’s sales rose by 6.9%, while Sainsbury’s and Tesco saw increases of 6.3% and 5.8%, respectively. Meanwhile, Waitrose’s sales only grew by 1%, outpacing only Co-op and Asda.
Analysts interpret these developments as indicative of M&S’s strong momentum in the grocery sector. Recently, M&S reported a significant rise in first-half profits, driven primarily by food sales. Profit before tax rose by 17.2% to £407.8 million, and the food division saw a 0.5% increase in adjusted operating profit, reaching £242.2 million, with an 8.1% rise in food sales.
M&S attributes its grocery growth to its emphasis on fresh produce, meat, and dairy offerings, alongside a strong focus on innovation. The retailer has also enhanced its perceived value, claiming the best reputation for value in over a decade.
M&S’s growth trajectory in the grocery sector highlights its strategic focus on value and innovation, positioning it as a formidable competitor in the market.
