Good morning, and welcome to our rolling protection of the world economic system, the monetary markets, the eurozone and business.
Grocery store big Tesco has outperformed its rivals over the essential Christmas period, as the omicron variant led individuals to keep away from hospitality venues and eat extra at residence.
The UK’s largest grocer grew its market share to 27.9% over the 12 weeks to Boxing Day, a rise of 0.6%, in accordance with information simply launched by market researchers Kantar Worldpanel.
On-line grocer Ocado additionally had Christmas – it was the one retailer to develop gross sales versus final 12 months, whereas each main grocer elevated gross sales in contrast with pre-pandemic ranges of 2019.
Aldi, Lidl and Waitrose additionally grew their market shares by 0.3%, 0.2% and 0.1% respectively.
General, take-home grocery gross sales dropped by 3% in the final 12 weeks in comparison with 2020, when lockdowns compelled individuals to eat at residence extra. However spending remains to be greater than pre-pandemic, with gross sales 8% stronger than in 2019. And in December, individuals spent practically as a lot in the supermarkets as a 12 months in the past.
That highlights how the stoop in indoor eating, the cancellation of Christmas events, and the transfer to residence working has led to extra consuming at residence.
Spending at groceries shot up in December, Kantar studies, as Omicron fears deterred individuals from consuming out.
Folks seized the possibility to take pleasure in Christmas with family and friends after final 12 months’s muted festivities, and grocery gross sales hit £11.7bn over the month of December.
This lofty spend determine is down simply 0.2% on report 2020 gross sales, when a number of areas confronted restrictions, and the information recommend that whereas there weren’t formal guidelines in place throughout the UK this 12 months, many individuals celebrated at residence once more because of the Omicron variant of Covid-19.
Tesco’s grocery gross sales in the 12 weeks to December 26 fell by 0.9% in comparison with 2020, whereas rivals Sainsbury’s Asda and Morrisons noticed their gross sales fall by 4.4%, 3.9% and 6.5% respectively.
Additionally arising
Later right now we uncover how eurozone firms fared final month, as the omicron wave hit Europe.
European inventory markets have opened decrease, with the FTSE 100 dipping by 18 factors after rallying by 120 factors to contemporary 22-month highs yesterday.
The agenda
- 9am GMT: Eurozone providers PMI for December
- 9.30am GMT: UK providers PMI for December
- 1.30pm GMT: US personal sector payroll report from ADP
- 3.30pm GMT: EIA weekly oil stock figures
