Sainsbury’s has announced a 2.8 per cent fall in ike-for-like sales. Chief executive Mike Coupe said this was due to “deflation in many areas of our business.” Total sales fell by 0.8 per cent.
Speaking to BBC Radio 4, he said: “Customers are shopping very differently to the way they were shopping even a year ago. We are seeing an increase in the number of outlets available to them and they are shopping much more frequently, so these trends are changing very rapidly.”
Coupe was alluding to the ongoing price wars between supermarkets, especially Aldi and Lidl, who are one of the few who have seen rising market share while other, longer running supermarkets have seen them fall.
In response, Sainsbury’s has had to decrease prices to maintain market share, similar to Tesco and Morrisons. Of the ‘Big Four’ supermarkets, which include these three and Asda, only Asda has been successful in this regard.