Friday 26 April 2024

Back To The Shops

Sainsbury's says shoppers are returning to its stores as the surge in online shopping seen during the Covid pandemic continues to unwind. The UK's second largest supermarket said online sales had been above 20% at the height of the pandemic, but are now back to about 13%. Its comments came as it reported strong food sales after spending heavily on keeping prices low to attract shoppers. However, other areas were weaker, with sales of clothing and fuel falling. The UK's second largest supermarket said its food business was "firing on all cylinders", with grocery sales growing by 9.4% over the past year. Chief executive Simon Roberts said that more than 87% of all food sold was done so "in a physical store". Supermarkets have been fighting hard for customers, with shoppers still feeling the effects of steep price rises over the past two years, which have ratcheted up the cost of living. Sainsbury's response has been to focus heavily on its food, which accounts for about three-quarters of its business, and it said it has spent £780m over the past three years on keeping prices low, including promotions such as Nectar prices and price-matching budget chain Aldi.