The grocery market has seen its share figures bounce back in the 12 weeks to 5 August - but experts are unsure if the Olympics has been the catalyst. Instead, experts at Kantar Worldpanel suggested the growth boost of 3.5% - instead of 2.1% a month ago - was due to lower grocery inflation.
The latest statistics show Tesco is still losing share to its rivals - although at a lower pace than previously.
In terms of share, Asda and Sainbury’s lead the pack, and are growing, with 6.2% and 4.7% respectively.
Fraser McKevitt, retail analyst at Kantar Worldpanel, said: “It’s too early to attribute improved grocery sales to the Olympics, however, the increased market growth rate coincides with the opening week of London 2012 and the better weather in July.
“Shoppers might not yet notice it at the tills, but they are starting to benefit from lower grocery inflation, with prices now rising at 3.2%* – the slowest rate for 18 months and a sign that things are starting to look up.”
Once again, consumers are increasingly looking at value lines and McKevitt added: “Consumers are still seeking economy products and retailers are reflecting this demand in their store offerings. The lowest priced own label lines, such as Tesco Everyday Value, are growing at 13% while premium own label sales are falling by 4% year-on-year.”