One in five UK households will buy more groceries for coronation, says market researcher

LONDON, May 3 (Reuters) – One in five British households intend to buy extra or special groceries for King Charles’ coronation as an extended weekend brings families and friends together, data from a survey showed on Wednesday. NIQ market researcher survey.

The new monarch of Great Britain will be crowned at Westminster Abbey in a ceremony filled with pomp and pomp on May 6.

“As we saw over the Jubilee weekend (in June 2022), shoppers celebrated with sodas and sweets at tea time, so there could be demand for similar products this year despite shoppers wanting to save “, Mike Watkins, NIQ’s UK head of retail and business. insight, he said.

He said beers, wines and spirits are likely to be “a footfall driver” for supermarkets.

NIQ, formerly known as NielsenIQ, noted that in the Queen Elizabeth Jubilee week to June 4, 2022, UK supermarket sales exceeded £2.7bn ($3.4bn), an increase of 10% on the annual average to date.

The researcher also said that 15% of UK households intend to buy coronation memorabilia.

However, Pantheon Macroeconomics estimated that Britain’s gross domestic product will fall 0.2% month-on-month in May, with all of that decline due to the loss of the working day on Monday May 8 for a coronation holiday.

NIQ said total UK grocery sales were up 9.7% in the four weeks to April 22 year-on-year. Store visits by shoppers rose 4.5%, while the online share of fast-moving consumer goods dipped to 10.8% from 11.1% last month.

Echoing data from rival market researcher Kantar last week, NIQ said discount stores Aldi and Lidl It continued to be the fastest growing grocery store for the 12 weeks ending April 22, with sales up 23.6% and 21.6%, respectively.

Sales increased 9.7% at both market leaders Tesco (TSCO.L) and no. 2 Sainsbury’s (SBRY.L)while they increased by 14.5% at Marks & Spencer (MKS.L).

Food prices in the UK shot up 15.7% in the year to Aprilthe biggest increase in registrations since 2005, the British Retail Consortium said on Tuesday.

($1 = 0.8021 pounds)

Reporting by James Davey; Additional reporting by David Milliken;

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