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Waitrose and John Lewis enjoy Olympic feelgood factor

Team GB's gold medal run sent sales of beer, ready meals and cherries at Waitrose soaring as people got together to watch the Olympics at home or on an outdoor screen. Sales at the upmarket grocer last week were 9.7% higher than in the same week last year. Waitrose's owner, the John Lewis Partnership, also reported strong sales at its department stores – not only in its London shops but also in its branches across the country. Sales leapt 22.4% compared with a year ago, also helped by better weather. "Undoubtedly, the feelgood factor of Team GB's medal success has had a direct impact in uplifting sales," said Tim Harrison at John Lewis. Economists said the figures fuelled hopes that the Olympics would give a tangible boost to retail sales overall, feeding through to the whole economy. Customers have been championing all things British. Homegrown cherries enjoyed their best week of the season, with sales up 25% on last year. The Heston from Waitrose Lapsang Souchong Tea Smoked Salmon saw sales surge by more than 600%. People also snapped up traditional British ready meals, with sales up 84%, as well as local and regional beers, where demand climbed 31%. With the nation glued to the action, convenient meals and snacks to share were highly sought after, with crisps and snacking nuts both up by 35% and dips up 14%. Picnic classics proved popular, with quiches seeing a 40% increase in sales, and celebration cakes surging 90% on last year. It wasn't only British athletes who cleaned up last week. As Brits prepared to entertain guests at home they contributed to a 35% surge in demand for cleaning products. Howard Archer, chief UK and European economist at IHS Global Insight, said: "Admittedly, John Lewis reported that matters had been helped by the better weather and new ranges, but there were clear indications in their sales figures that the Olympic Games was having a positive impact." Sales of London 2012 merchandise rose 51% week-on-week while there was also an increase in sales of larger screen TVs in the first week of the Olympics. Sportswear also sold well, in particular women's running tops and Stella McCartney-designed gear. Fashion overall climbed 25.5%, led by branded menswear as tourists got dressed up to go out at night. The recently refurbished John Lewis store in Reading saw growth in all areas. Cribbs Causeway, Knight & Lee, Tunbridge Wells, Southampton and Bluewater also put in good increases over last year. The big gains John Lewis Sales up 22.4% last week on the same time last year. • London 2012 merchandise, up 51% week-on-week; Adidas Team GB wristband up 135%. • Fashion, up 25.5% on last year led by menswear and sport, such as women's running tops, Stella McCartney-designed gear. • Electricals and home technology, up 31.2%; larger screen TVs selling particularly well. • Sales of swimming products up 34% week-on-week: men's Team GB swimming trunks up 77%, goggles up 44%, Monster Beats headphones up 34%. • Running clothes and trainers up 41%. • Tennis clothes and equipment up 14%. • Rowing machines up 106%. Waitrose Sales up 9.7% last week on the same time last year. Big sales rises include: • Home-grown cherries, up 25%. • Heston lapsang souchong tea smoked salmon, up 600%. • British ready meals, up 84%. • Local and regional beers, up 31%. • Crisps and snacking nuts, up 35%. • Dips Up 14%. • Picnic classics popular quiches, up 40%. • Celebration cakes, up 90%. • Cleaning products, up 35%.

Source: The Guardian ↗

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