Waitrose has grown its market share for the first time in over two years, signalling a potential easing of the cost of living crisis and success in the upmarket grocer's recent efforts to win back customers.

According to the latest data from Kantar, Waitrose's sales increased by 3.3 per cent in the 12 weeks to 7 July, outpacing growth at competitors such as Aldi, Morrisons, and Co-op. This performance has lifted Waitrose's market share by 0.1 percentage points to 4.5 per cent, marking its first increase since January 2022.

The positive results come after Waitrose implemented several strategies to revitalise demand, including a series of price cuts, overhauling staff shift patterns, and plans to refresh 80 stores over the next three years. Waitrose chair Sharon White recently stated that the retailer was "back on track" and prioritising expansion in the convenience sector.

While Waitrose celebrates its turnaround, Asda continues to struggle, with sales falling 5.3 per cent in the same period. This marks Asda's fourth consecutive month of decline, and its market share has slipped to 12.7 per cent from 13.6 per cent a year earlier.

The grocery landscape shows signs of broader recovery, with shoppers making 2 per cent more trips to supermarkets compared to last year. Kantar head of retail and consumer insight Fraser McKevitt noted that grocery price inflation has fallen to its lowest level since September 2021, with food prices increasing by just 1.6 per cent over the past month.

Despite the challenging weather, which has impacted sales of seasonal products like sun cream, some categories have seen growth. Sales of cold and flu treatments jumped by 35 per cent, while artificial tan sales increased by 16 per cent.

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