According to NIQ data, the UK saw a surge in sales of party accessories (+107%), cream and custard (+73%), sparkling wine (+71%), and champagne (+70%) compared to the previous year. Many shoppers opted to create their own teatime treats during the Coronation and bank holiday weekend, resulting in an uplift in sales for ingredients such as fresh dough/pastry (+56%), eggs (+45%), and sugar & sweeteners (+40%). Beer, wine and spirits also experienced an increase in sales (+23%) compared to the same week last year.
However, financial challenges and soaring inflation remain top of mind for consumers. NIQ data from the week ending 29 April – the week prior to the Coronation – revealed that frozen (16.3%) was the highest performing category in terms of sales. Brits seem to be planning ahead and stocking up on frozen poultry (31%), frozen potatoes (29%), and frozen chips (28%).
This may indicate a planned cost-saving measure as shoppers sought to cut back on spending the week before to allow themselves flexibility to spend extra on special treats during the celebratory bank holiday weekend. It’s a balancing act for shoppers, with indulgent purchases balanced by cost-saving measures.
Mike Watkins, NIQ’s UK head of retailer and business insight, commented: “The latest figures show that despite many being financially constrained in the cost-of-living crisis, shoppers still allowed themselves to indulge in additional groceries and treats so they could celebrate the Coronation and long weekend. However, this is a balancing act. While one week they are allowing themselves to indulge, the weeks in between still indicate cost-saving measures, such as stocking up on frozen or ambient goods. The Coronation has given a welcome boost to grocery sales, with many shoppers taking advantage of retailers’ discounts and other incentives.”