Dr Alf is correct, which is why Morrisons have had their worst Christmas ever, and why their hapless Chief Executive is “stepping down”, no doubt with the usual rewards for failure. Tesco PLC had the CEO step-down too, riddled with accounting scandals, complacency and fat cattery at the top.
Waitrose does a good job for those prepared to pay for quality but Aldi and Lidl, German owned by their founding families and without shareholders and plutocrats in the City to feed, have been doing a much better job, albeit with a cut down range of products.
For too long, UK supermarkets have driven farmers to the wall, rendered the country strategically vulnerable by simply importing food and by not delivering proper value to consumers.
Currently, we are “over-shopped” with 50% too much capacity, which to my mind will mean a big reduction in the number of Tesco, Morrison and Co-op outlets, to allow for the 400 new Lidl and Aldi stores, planned by their German owners within the next 2 to 5 years. This is apart from the doubling in size of many Lidl and Aldi outlets, as has happened in Letchworth, Hertfordshire, near where I live.