Wednesday, April 24, 2024

Woolworths biggest fish in seafood market

Woolworths continues to be the biggest fish in seafood retail, says the latest research from Roy Morgan.

In fact, Woolworths still dominates the fresh-food market overall. According to Roy Morgan’s September quarter Supermarket & Fresh Food Currency Report, it’s ahead of Coles at 24.6 per cent and ALDI at 9.8 per cent.

‘Strong lead’

Fresh seafood accounts for seven per cent of the overall fresh-food sector. Although independent shops still have the greatest market share in dollar terms, Roy Morgan says “Woolworths has opened up a strong lead over rival Coles during the 12 months to September”.

Woolworths also continues to hold the largest market share in dollar terms of fresh meat, fresh deli, fresh bread, and fresh fruit and vegetables. However, Coles has narrowed the market-share gap in all those categories in the 12 months to September.

In fresh bread, Coles is almost neck-and-neck with Woolworths. The two brands command more than half the entire market.

Across all groceries departments, however, the picture is clear – Woolworths retains its overall market lead. This puts it ahead of Coles, ALDI and IGA supermarkets.

Tracking trends

Roy Morgan CEO Michele Levine said: “The buying trends we’re seeing in the grocery space closely follow social and demographic trends that we’re constantly tracking.

“Our single-source survey data shows, for instance, that Australians with parents born in Singapore, Vietnam, the Philippines and Greece buy fresh seafood considerably more often than the national average. And those with parents born in Pakistan, the Middle East and India buy fresh seafood less often.

“It will be interesting to see how Coles responds to Woolworths’ growing dominance in fresh seafood, following its divestment from Wesfarmers.

“We know that supermarkets are being squeezed by strong price competition and rising costs. So, in this environment, winning market share cost-effectively is the name of the game.”

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