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Primark outstrips Tesco and Asda in market share battle
Primark outstrips Tesco and Asda in market share battle
Primark and Tesco are overshadowing their rivals in the battle for volume share of the clothing market, as the two value retailers climb to second and third places behind Marks & Spencer.
Primark has leapfrogged Asda and Tesco to take the number two spot. Its market share by volume stands at 8.9% for the 24 weeks to April 1, a 35% jump from its 6.6% share a year ago, according to figures from TNS Worldpanel Fashion.
Tesco has overtaken George at Asda in the battle of the supermarkets, taking its share of the market to 8.6% compared with Asda’s 7.5% for the same period. This time last year, their shares were 8.1% and 8.2%, respectively. M&S’s market share by volume is 11.4%.
Verdict Research analyst Maureen Hinton attributed the growth to an increase in space dedicated to clothing. “Both Primark and Tesco have added a lot of space to their portfolios, whereas Asda has not,” she said. “That’s the best way to compete at the moment unless you can increase your like-for-likes, which is very difficult.”
A separate report by Verdict also showed that Primark was becoming more popular with shoppers. Some 4.6% of shoppers surveyed said Primark was where they spent most money on clothes, ranking it the sixth most-visited clothing retailer, ahead of both New Look and Tesco.
Hinton added that Asda had lost the marketing “initiative”, and was being overtaken by Primark and Tesco in publicity terms.
But Asda was not concerned by the swing in figures. A spokesman said: “We continue to be very happy with the way our brand is performing. Our G21 label is` more than 350% up year on year, while the Fast Fashion brand has risen more than 50%.”
Asda’s volume share of the market stood at 8.3% and Tesco’s at 8.2% for the 52 weeks to April 1.
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