An incredible 58p in every £1 spent by UK consumers goes to supermarkets, according to a new report by The Payments Council. Supermarket shopping now accounts for almost 60 per cent – or £181 billion – of the UK’s retail sales.
The figures are a huge increase from 2001 when supermarkets accounted for 46 per cent of all retail sales i.e. £101 billion. Over the decade, the large grocers have added numerous non-food product lines to grow sales and profit margins. Sales of petrol are also up – almost 33p in every pound spent on fuel is a petrol-related purchase.
The report also revealed that shoppers spent £58 billion on entertainment in 2011, an increase of £21 billion from 2001. Spending in DIY stores has dropped significantly over the decade – having halved since 2001. Shoppers can expect to more non-food categories introduced to supermarkets in future as part of the grocers’ plans for growing market share.
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