UK- LIDL reports £10 million increase in switching expenditures.

According to Lidl, switching profits from other retailers increased by more than £10 million in the last month, to about £11 million.

The bargain grocery store claims that consumers have spent a total of £120 million with them in the last year as opposed to going to conventional supermarkets.

The budget retailer has witnessed an increase in customers purchasing fresh goods, particularly fruit and vegetables, with the latter reaching a market share high of 10.2%, according to Lidl.
Lidl claims that its fresh meat and poultry, which also hit a new record market share, are luring customers to the store.

According to Lidl GB CEO Ryan McDonnell, “it’s obvious that many consumers are now unwilling to pay a premium for their goods.”

“As 2023 approaches, more customers are entering our store and shifting their spending from high-end supermarkets to Lidl. We are aware that clients initially switch to us to save money, but they eventually decide to stay with us once they realize they won’t have to sacrifice quality.

The announcement comes as Lidl unveiled plans to accelerate original investment plans planned in 2019 by investing £4 billion into the British food industry last week.


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