LONDON, Jan 9 (Reuters) – The British arm of German discount supermarket group Lidl said its sales rose 24.5% in the four weeks to Dec. 25 compared to the previous year, reflecting new store openings and consumers’ search for savings in a cost-of-living crisis.
Lidl GB said on Monday over 1.3 million more customers shopped at its stores in the seven days to Christmas Eve.
Citing data from market researcher Kantar, Lidl GB said shoppers switched 62.8 million pounds ($76.4 million) of spend to it from other supermarkets over the four week period – almost triple that of last year.
“We only see this momentum continuing in 2023,” said Chief Executive Ryan McDonnell.
Lidl GB, part of Germany’s Schwarz retail group, highlighted strong sales of Christmas vegetables sold for 19 pence a pack, Christmas puddings, prosecco and cheese.
Trading from more than 950 stores, it is currently the UK’s sixth biggest supermarket chain with a grocery market share of 7.2%.
($1 = 0.8224 pounds)
