Lidl GB’s sales soar by over 10%, helped by price cuts and Deluxe range
Summary
Lidl’s sales in Great Britain rose by over 10% to more than £13 billion this year, helped by price cuts and its Deluxe food range. The supermarket’s profit increased by 30%, and it became the fifth largest grocer in Great Britain, surpassing Morrisons.Key Facts
- Lidl’s sales in Great Britain grew by 10% to £13 billion in the year ending February.
- Pre-tax profit at Lidl GB rose 30% to £245.5 million from £156.8 million the year before.
- Shoppers bought more fresh meat, fruit, vegetables, and premium Deluxe range products.
- Lidl spent £315 million on price cuts and promotions during the year.
- Lidl’s market share reached 8.6%, beating Morrisons’ 8.3% to become the fifth largest grocery chain.
- Aldi and Lidl have grown partly due to struggles of Asda and Morrisons after private equity takeovers.
- Lidl Plus, Lidl’s loyalty program, saw 23% more participants this year, unlike Aldi, which does not have a loyalty scheme.
- Aldi criticized loyalty discounts at other supermarkets, calling some price reductions unrealistic.
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