UK Supermarket Sales Surge 5.4% in March: NIQ

In the four-week period ending March 23, 2023, UK supermarket sales experienced a significant growth of 5.4% compared to the same timeframe the previous year, according to market researcher NIQ.

This increase was slightly more robust than the 5.3% rise reported in the previous month.

The primary reason for this uptick in sales was the slowing inflation rate, which motivated consumers to increase their spending on groceries.

Mike Watkins, the UK head of retailer and business insight at NIQ, attributed the sales boost to a decrease in food prices during March and heightened competition among supermarkets.

However, Watkins cautioned that overall consumer spending remained under pressure due to the continuous rise in household bills, which outpaced inflation.

This trend was reflected in the persistently low consumer confidence levels.