Premium products enjoy market share growth
Premium food brands are performing extremely strong in the lead up to Christmas, according to Kantar Worldpanel.
Figures monitoring global shoppers’ behaviour show that that UK consumers are spending 13% more on premium brands this year than last. This is against a backdrop of slow growth for supermarkets overall.
Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, adds, “Top tier private label finds its way into 12% of shopping trips, with 88% of consumers now buying from these lines. In the past 12 weeks, 6.3% of own label purchases were from premium lines such as Tesco Finest and Sainsbury’s Taste the Difference, well ahead of the 5.7% recorded last year.
“We’ve seen particularly impressive performances from Morrison’s The Best, which saw sales increase by 35% and Asda Extra Special which grew by 15%. Over Christmas it’s likely that premium lines will record their highest sales figures even more shoppers trade up to treat their loved ones.”
Food manufacturer Addo Food Group has also reported strong sales for some of its premium brands. Sam Benjamin, brand manager of premium pork pie brand Tottle, says, “We have seen a growing trend for premium brands in the market place which was a key driver for developing the Tottle brand of premium pork pies. The interest and sales since the launch have been incredible and it’s a market that offers real opportunity for growth in the coming years.
“Consumer beahviours are changing, with a growing interest in where food is sourced from, what ingredients are used and how that product is supporting local farmer and industries. For Tottle, this change is an opportunity to develop products which use prime ingredients such as outdoor bred pork, maple cured bacon and Lancashire black pudding and offer ranges which really offer luxury and high quality options for shoppers.”
