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Why is Morrisons outperforming the sector?

For many years Morrisons has been seen as the poor cousin of the likes of Tesco, ASDA and Sainsburys with constant pressure from the big three pushing the group close to the edge on a number of occasions. However, as the economic downturn continues to hit shoppers hard it has been revealed that many are ditching the higher cost stores for the value offered at Morrisons. So what is happening?

The group has been carrying out a number of highly promoted price cuts across the UK and claims to have stolen over 500,000 customers from rivals. While this is a big claim and one which has yet to be confirmed by industry data, the recent jump in profitability would suggest that the group is making headway. The cheap and cheerful approach which was for many years associated with the group is now back with a vengeance and an attack on the likes of Tesco, ASDA and Sainsburys is under way.

Quite how far this current push can go remains to be seen but if the group can retain even a percentage of its new customers the future will look a whole lot brighter after the gloom of the recession lifts.

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