Asda, Tesco, Safeway and Somerfield have significantly increased their own label premium ranges in the run-up to Christmas in a bid to grab a bigger slice of the fastest growing section of the own label market.
Asda is doubling its Extra Special range from 230 to 460 lines; Tesco is extending Finest into clothing and Somerfield and Safeway have both introduced a raft of new lines to their So Good and The Best food ranges to capitalise on the double-digit growth in the market.
Although Tesco Finest and Sainsbury’s Taste the Difference ranges have been on the market for several years, both saw growth of more than 20% in the 12 weeks to mid-October. Premium ranges at Somerfield, Asda and Safeway clocked up growth of 40%, 73% and 35% respectively over the period.
Tesco declined to comment on the size of its Finest brand, but given that Safeway’s £135m The Best brand has 7.4% of the premium own label market and Tesco has a 46% share, Finest sales are estimated to be £840m.
Sainsbury’s Taste the Difference is worth about £533m, Asda’s Extra Special about £122m and Somerfield’s So Good £42m.