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
Symbol groups to account for half of convenience store sales by 2020 according to new research

Symbol group operators such as Budgens and Costcutter now account for 40% of UK convenience store sales, according to new research by IGD.

GENERAL MERCHANDISE

Symbol groups to account for half of convenience store sales by 2020 according to new research

Symbol group operators such as Budgens and Costcutter now account for 40% of UK convenience store sales, according to new research by IGD.

The research and education charity, which gathers worldwide information on the consumer goods industry, found that Symbol group stores currently generate £13.6 billion in sales. This is nearly three times the value they delivered ten years ago. IGD predicts they will account for half of all convenience sales by 2020.

The total UK convenience market is now worth £34 billion and IGD forecasts it to increase to £44 billion by 2017.

Joanne Denney-Finch, chief executive, IGD, explained: "The convenience channel as a whole goes from strength to strength. We are forecasting it to grow by 29% over the next five years, compared to 18% for the overall UK grocery market over the same period.

"The quality of the convenience market continues to improve and symbol groups are playing an important role in this. They provide independent retailers with support across a variety of areas, from product ranges and marketing, to IT and logistics support. This helps them to deliver an excellent convenience service to local shoppers and the communities they serve.

"Our ShopperVista research shows nearly half of shoppers (47%) are extremely or very satisfied with the quality of the products at symbol stores. And there are several opportunities for them to work with suppliers to build the private label proposition and increase its awareness."

 


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