Approximately £823 million is expected to be spent in British supermarkets over the upcoming Diamond Jubilee weekend. British supermarkets are reporting record sales ahead of the celebrations.
The activity is “the biggest week we have had since the Millennium” in terms of party sales, said Tesco party range buyer Matt Compton. Demand was “far exceeding” sales for last year’s royal wedding even before the weekend had arrived, he explained. “Anything with a Union Jack on it is selling like hot cakes.”
The retailer reports a 300 per cent rise in sales of disposable tableware range when compared to a regular week. Nearly 30,000 Union Jack cushions were sold in the last two weeks alone.
Tesco has already sold 93,000 paper crowns and tiaras, 400,000 Jubilee mugs and 1,500 miles of bunting. It is estimated that the supermarket will sell 2.86 million flags over the weekend.
The retailer estimates that 25 million units of beer, 1.6 million sausage rolls and two million punnets of strawberries will be sold from its stores and online for the celebrations.
While record sales of flags and bunting were seen last year, current indications show that the Queen’s Diamond Jubilee is set to “far outstrip” last year’s demand, said Sainsbury’s general merchandise director Robbie Feather.
The supermarket chain reported sales of 364 miles of bunting and 146,000 flags; sales of Union Jack cake stands were up 2,783 per cent and Union Jack teacups and saucers up 5,588 per cent week on week.
Sainsbury’s also expects to sell four million loaves of bread, one million jars of jam, nearly 10 million servings of strawberries, 20 million cans or bottles of beer, 295,000 bottles of champagne and 180,000 bags of charcoal over the celebratory weekend!
Meanwhile, Waitrose said sales of cider are up 70 per cent on last year’s Royal wedding; sales of Pimms are up by more than 260 per cent. The grocer reports that sales of trifle is up 28 per cent and paperware has risen by 182 per cent at the upmarket supermarket.
Walmart-owned Asda has estimated a 75 per cent increase in sales of Pimms; the retailer has stocked up on a 2.8 million Victoria sponges ahead of the weekend rush.
All of the supermarkets are watching their competitors’ pricing closely to ensure they have the competitor advantage over all others to entice more shoppers to order their goods in stores and online this weekend.
© Profitero 2012
Pricing intelligence company Profitero works with retailers and manufacturers to help them increase sales and maximise their profits by using competitor price, promotions and stock information at scale. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email firstname.lastname@example.org.