Lidl Achieves Record £1bn Sales in the UK Before Christmas
Lidl’s sales soared past £1bn in the UK as shoppers sought festive deals, marking a significant milestone for the discount supermarket chain.
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The German-owned chain is on the verge of surpassing Morrisons to become the fifth largest supermarket in the UK. In the four weeks leading up to Christmas Eve, Lidl reported a 7% increase in sales compared to last year, with over 2 million customers hunting for holiday deals. December 23 was their busiest day of the year.
Lidl sold a staggering 16 million pigs in blankets, 8 million stuffing balls, and 2 million liters of gravy. They even saw a 25% rise in champagne sales. Between December 19 and 24, shoppers were buying turkeys at a rate of one per second!
This sales update is just the beginning, as other retailers will soon share their Christmas trading results. Shoppers were expected to spend nearly £23 billion during the festive season. Ryan McDonnell, Lidl’s CEO, expressed excitement about welcoming more customers than ever and plans to continue expanding their presence across the UK.
However, McDonnell also mentioned that price increases are likely due to changes in national insurance contributions and minimum wage hikes. Lidl operates over 960 stores in Great Britain and bounced back into profit last year after focusing on improving existing stores rather than rapid expansion.
Since launching in the UK in 1994, Lidl, along with Aldi, has changed how people shop. They gained over 300,000 new customers, with 60% of Britons visiting the chain in the last financial year. Profits rose to £43.5 million for the year ending February 2024, a significant turnaround from a loss of £75.9 million the previous year.
Lidl’s revenue jumped nearly 17% to £10.9 billion, thanks to investments in store upgrades, more fridges for fresher products, and a wider range of items. Their loyalty program also saw a 24% increase in users, showing that shoppers are keen to stick around.