Lidl Christmas sales jump 24.5%
By Michele Maatouk
Date: Monday 09 Jan 2023
(Sharecast News) - Discount retailer Lidl reported a surge in Christmas sales on Monday as shoppers switched from other supermarkets amid the cost-of-living crisis.
In the four weeks to 25 December, sales rose 24.5% year-on-year. The retailer said it attracted more than 1.3m more customers in the seven days to Christmas eve, as shoppers switched from more expensive traditional supermarkets.
Sales of Christmas lights and decorations grew 85% and 71% respectively over the period.
Ryan McDonnell, chief executive at Lidl GB, said: "Every week of the year we are seeing more customers coming through our doors, switching spend to Lidl from the traditional supermarkets. We know they switch to us to make savings, but then they stay with us when they realise that they're not having to compromise on quality, and this Christmas was no exception.
"Our strategy - great quality products at low prices - has remained the same since we first opened our doors over 28 years ago. But that is only because it's as relevant now as it ever has been. It is working because we are seeing big switching gains with over £63m of spend moving to us in the four weeks to the 25th of December. We only see this momentum continuing in 2023."
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