Symbols and independents saw a -0.8% drop in sales year on year, despite grocery price inflation standing at 4.5% for the four-week period ending 17 March 2024, the lowest level since February 2022.

The category’s performance reflects the news that 23% of British households, surveyed by Kantar, identified themselves as struggling financially – the same proportion as reported in November last year.

Kantar also found that symbols and independents was the only grocer category to see a drop aside from Co-op (-0.4%) and other multiples (-0.7%).

Other major retailers, such as Tesco and Sainsbury’s, benefitted from overall take-home grocery sales rising by 4.6% over the four weeks to 17 March, while sales of seasonal Easter treats in the first three months of 2024 up by £88m compared to the same period last year.

Fraser McKevitt, head of retail and consumer insight at Kantar, said: “With Easter on the horizon, consumers have been stocking up on classic seasonal treats, with a quarter of people picking up four or more items when buying chocolate eggs.  This rises to 29% for shoppers aged over 65.  People in Wales and the north of England are among the biggest spenders, shelling out £14.18 and £13.84 on Easter eggs on average respectively in the past three months. Volume sales of hot cross buns are also up by 15% versus last year.”

Ocado was the fastest growing retailer this month, benefitting from a sustained voucher campaign which helped it attract customers.

McKevitt continued: “Grocery inflation has come down significantly since hitting an eye-watering peak of 17% in March 2023.  However, despite this continued slowdown, many British households are still feeling the squeeze.”

Shoppers remain on the hunt for value and among those feeling most pressured, 78% are actively buying cheaper groceries while 68% are using promotions to help manage budgets.  Retailers appear to be responding in kind, with the emphasis on discounts and price match schemes continuing this period, said Kantar. 

Read more inflation news and advice