THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Convenience market to be worth nearly £50 billion by 2019

The UK convenience market is set to be worth £49 billion by 2019 and will grow by over 30% over the next five years according to the Institute of Grocery Distribution.

GENERAL MERCHANDISE

Convenience market to be worth nearly £50 billion by 2019

The UK convenience market is set to be worth £49 billion by 2019 and will grow by over 30% over the next five years according to the Institute of Grocery Distribution.

Figures released by the institute show that symbol group operators have the biggest overall share of convenience sales, accounting for just over £4 in every £10 spent in UK convenience stores.

Unaffiliated independents and symbol groups were shown to account for over 70% of the total number of convenience stores and while growing at the fastest rate, convenience multiples still represent less than 10% of total stores.

IGD chief executive Joanne Denney-Finch said: “Convenience stores are benefiting from changing social demographics, such as smaller households, and shoppers spreading more of their spending across a variety of grocery formats. Our latest ShopperVista research shows that seven out of ten (71%) of them are using both a supermarket and convenience shop in any given month.

“Our 24-hour, seven day a week society means people can buy anything, anywhere and at any time. Convenience stores are well placed to make the most of this trend as shoppers use them more than any other type of grocery format.

“Building on the success of click and collect, convenience shops continue to offer a link between digital and physical shopping – acting both as a drop-off and collection point. This also provides another reason for shoppers to visit, helping them combine two tasks in one journey.

“With all types of retailers focusing so much on convenience, it’s an incredibly exciting time to be involved in this sector. However, it’s vital convenience shops stay close to shoppers changing needs and keep innovating to maintain this momentum.”

 

  Convenience sales 2014 £m Share of sales 2014 £m Sales change year to April 2014
Symbol groups 15,537 42 5.1%
Convenience multiples 7,277 19 16.3%
Unaffiliated independents 6,528 17 -0.1%
Convenience forecourts 3,962 11 -0.5%

Co-operatives

4,125 11 2.3%
Total convenience 37,430 100 5.2%

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
Fix The Dinosaur Roundtable 2018
Fix The Dinosaur Roundtable 2018
19 October 2018
The Euston Suite, The Hallam, 44 Hallam St, London W1W 6JJ
A Masterclass in IBMi Legacy Issues