UK: Farmfoods becomes fastest-growing grocer
Discount frozen foods chain Farmfoods has outperformed rivals to become the UK’s fastest-growing food retailer in the past six months, The Guardian reports. The news comes as many of the major UK supermarkets struggle with flat or sluggish growth.
Based in Cumbernauld, Scotland, Farmfoods achieved sales in the 12 weeks to the 2nd February 44% higher than in the same period of the previous year, according to figures from Kantar Worldpanel. An analyst from the research organisation cautioned that the figure could not be seen as wholly reliable, given that Farmfoods’ small scale made it difficult to track sales patterns, but still asserted that the true growth figure was likely to be in “strong double digits”.
The Guardian notes that Farmfoods’ success is another example of the strong growth enjoyed by frozen food retailers during the UK’s economic downturn, with frozen food being inherently lower cost, as well as cheaper to transport and store than fresh produce.
It also reports, however, that, despite its progress, Farmfoods is still only a quarter of the size of the UK’s leading specialist frozen food retailer Iceland.
Source: The Guardian