Christmas dinner expenses are expected to remain stable this year compared to last year, despite the surge in food prices. A recent study by market research firm Worldpanel by Numerator reveals that the average cost of a turkey and accompanying ingredients for four people stands at £32.46, slightly lower than last year’s £32.57. This decline comes amidst an overall grocery price inflation rate of 4.7% last month.
Retailers have intensified promotional activities to attract Christmas shoppers, recognizing that price-sensitive families play a crucial role in the demand for essential festive foods. Worldpanel data shows that frozen turkey prices have decreased by 3.6% to £13.52, while parsnips are also cheaper by 0.4% at 71p for four servings.
Conversely, cauliflower prices have risen by 4.2% to £1.22, with carrots up by 5.5% to 52p, Brussels sprouts up by 3.6% to 92p, potatoes up by 1.1% to £1.67, and gravy granules costing 5.1% more at £2.23. Additionally, stuffing mix prices have increased by 6.9% to 96p, cranberry sauce by about 10% to 86p for four servings, Christmas pudding by 0.8% to £3.34, and sparkling wine by 1.7% to £6.51 per bottle.
Discount supermarket Aldi affirms it has maintained its prices, offering a main festive meal for eight at under £12, or less than £1.50 per person. This deal, available from December 19 to Christmas Eve, includes festive vegetables that may be discounted to 8p as part of the Christmas Super Six promotion.
Worldpanel by Numerator reports that approximately 31% of supermarket purchases last month were on promotion, slightly higher than the previous year’s 30%. Fraser McKevitt, head of retail and consumer insight, emphasizes retailers’ efforts to entice shoppers, especially during this crucial trading period. Despite ongoing financial challenges for many households, consumer spending on small indulgences remains evident, with premium own-label product lines gaining popularity.
Although chocolate prices have risen by 18.4% compared to last year, many households purchased confectionery advent calendars in November. Online grocer Ocado achieved a record market share of 2.2%, with a 15.8% sales increase in the past three months. However, physical stores continue to dominate the grocery sector, with the days leading up to Christmas anticipated to be the busiest shopping period.
Lidl experienced the largest market share growth, gaining an additional 0.5 percentage points to reach 8.1%, while Aldi’s sales increased by 4.1%, maintaining a 10.5% market share. Sainsbury’s saw a 5.1% sales boost, reaching a 16% market share, while Asda struggled with a 4.3% sales decline and an 11.5% market share.
Leading the industry, Tesco achieved a 4.7% sales growth to nearly £10.2 billion in the three months ending November, elevating its market share to 28.3%.