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Tesco Voted 'Consumers' Favourite', While Kwik Save Tumbles
British shoppers have voted Tesco their favourite retailer, while Kwik Save teeters on the brink of insolvency. Analysis from TNS Worldpanel continues to show most other supermarkets gaining share at the beleaguered store's expense.
Tesco received its reward at last night's Retail Awards ceremony at London's Grosvenor House Hotel. The selection was based on the views of a TNS Worldpanel poll of 15,000 consumers who were asked to nominate their favourite retailer. Tesco received 16.7% of the votes as overall favourite, with Asda and M&S coming in second and third respectively.
Meanwhile thousands of Kwik Save employees await their fates, as the firm's lawyers try to convince a judge to let the company enter a period of administration. Last month the firm admitted it was in financial difficulty and private investors moved in with a rescue package.
Edward Garner, Director of Research for TNS Worldpanel explains: 'The well-documented collapse of the Kwik Save share coupled with recent weakness in the Somerfield share (down to 3.6% from 3.9% a year ago) has enabled most of the other retailers to produce strong growth figures. Aldi and Lidl are direct beneficiaries of the Kwik Save situation, acquiring both stores and shoppers to yield double-digit growth.'
TNS Worldpanel reports that Tesco holds on to its gains with annual growth of 8%, but both Asda and Sainsbury are close behind with sales growing by 7% over last year which means they have each added 0.3 share points. Morrisons sees its tenth successive period of growth and Waitrose achieves an all-time record share of 4.0%.
TNS Worldpanel monitors the household grocery purchasing habits of 25,000 demographically representative households in Great Britain. The group's home page is at www.tns-global.com .
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