Tesco sees signs of changing shopper behaviour as inflation bites

Tesco

Tesco has reported “early signs” that shopper behaviour is shifting as the soaring cost of living bites.

The grocery giant said like-for-like sales slipped 1.5% year on year to £9.88bn in its core domestic market over the first quarter, but that it increased market share by 37bps, “outperforming on both value and volume”.

Tesco said year-on-year performance was “impacted by annualisation of lockdown last year, most notably in general merchandise, clothing and online, partially offset by inflation”.

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