Retail Accounting

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Grocery industry up on jubilee weekend

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THE DIAMOND jubilee injected a dose of cheer into the UK grocery retail industry, boosting sales by an impressive 12.5 per cent in the week running up to the festive weekend, according to insights firm Nielsen.

The successful seven days came on top of another bumper week, when grocery sales jumped 5.7 per cent due to the warm weather and the launch of the Olympic torch relay.

The two weeks surpassed the growth rate earlier in May, when sales were subdued by the cold and wet weather.

“Overall, May was a month of better momentum across food retailing, with the major supermarkets issuing a deluge of cash savings and discounts. Promotional spend remains at 35 per cent of overall basket sales at the grocery multiples,” said Mike Watkins, Nielsen’s senior manager for retailer services.

http://www.cityam.com/latest-news/grocery-industry-jubilee-weekend

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Author: retailaccounting

CounterBooks is an online retail accounting management suite which is used by retailers across the world.

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