Upmarket UK retailer Waitrose has pledged to ramp up its promotional programme in the next few months in response to concerns over consumer spending.
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Waitrose managing director Mark Price yesterday (5 January) predicted a “tough” first quarter, despite posting strong sales for the Christmas period.
“In these challenging economic times we have put a strong emphasis on improving our offer to customers, including more promotions than ever before, deeper discounts and a price commitment programme,” Price said. “Our efforts have paid dividends, with our Christmas and New Year trading figures demonstrating there is a place for well-positioned, premium food. Our customers are remaining loyal to us, albeit shopping differently and getting better value.”
Waitrose yesterday reported another buoyant week of trading for the New Year, with total sales (excluding petrol) for the week ending 3 January up 7.5%, with like-for-like food sales up 4.7%.
Sales for the 12 trading days of Christmas and New Year were up 5.4% (excluding petrol) with like-for-like food sales up 3.1%.
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