Customer behaviour

ALDI BECOMES BRITAIN’S FIFTH LARGEST GROCER AS IT OVERTAKES THE CO-OP

Discounter Aldi has overtaken the Co-operative to become Britain’s fifth largest grocer, according to new figures. Aldi’s sales rose 12.4% year-on-year in the 12 weeks to January 29, taking its market share to 6.2%, ahead of the Co-op’s 6%, data from Kantar Worldpanel shows. The past quarter saw Aldi attract 826,000 more shoppers than during […]

SERVICES SECTOR GROWTH SLOWS BUT BUSINESS STILL CONFIDENT ABOUT PROSPECTS FOR 2017

Growth in the UK’s dominant service sector slowed last month, according to a closely watched survey, while price pressures “remained intense”. The Markit/CIPS purchasing managers’ index (PMI) recorded its first slowdown in the services sector for four months. The index fell to 54.5 in January from the previous month’s reading of 56.2. However, a reading above 50 […]

APPLE SELLS RECORD 78.3 MILLION IPHONES IN LAST QUARTER OF 2016

Apple sold more iPhones in the last three months of 2016 than ever before, the company said in its latest financial results. Reporting earnings for the end of last year, chief executive Tim Cook said the firm sold 78.3 million iPhones in the three months ending on December 31, enabling the company to announce record […]

SANTANDER WARNS OF CHALLENGING ENVIRONMENT DESPITE STRONG PERFORMANCE IN 2016

High street lender Santander has notched up a 13% hike in annual UK profits despite seeing a sharp slowdown in customer growth at its flagship current account. The banking giant posted underlying pre-tax profits of £2.03 billion for 2016, up from £1.79 billion the previous year. But Spanish owner Banco Santander saw the Brexit-hit pound […]

Consumer goods giant Unilever expects slow start to 2017 as challenges grow

Consumer goods giant Unilever has warned of a “slow start” to 2017 after currency headwinds and economic challenges in India, Brazil and Europe dragged on full-year earnings. The Marmite, Dove soap and PG Tips firm said annual net profit rose 5.5 per cent to 5.5 billion euros (£4.7 billion), but revenues dropped 1 per cent […]

The success of McDonald’s All Day Breakfast eats its profits for lunch

McDonald’s has become a victim of its own successful all day breakfast. Like-for like fourth quarter revenue in the US, McDonald’s biggest market, fell by 1.3% compared with late 2015 when it launched its all day breakfast. While total global sales grew in the fourth quarter and full year, menu changes have eaten into growth. […]

One million customers switch bank accounts but rush slows

More than a million current accounts were switched last year but the figures have dipped compared with 2015. About 23,500 fewer switches took place across 2016 compared with a year earlier – despite consumers’ awareness of the current account switching service reaching a record high in November, figures from payments body Bacs show. Bacs, which […]