FDBusiness.com

Surge in UK Convenience Market

 Breaking News
  • KK Foods Plans £5.5 Million Expansion KK Fine Foods, a leading frozen food manufacturer based at Deeside in Wales, is set to expand and diversify with support from the Welsh Government, creating an additional 40 new...
  • Nestlé Launches Fund to Boost Packaging Innovation Nestlé has announced that it will invest up to SFr2 billion (€1.86 billion) to lead the shift from virgin plastics to food-grade recycled plastics and to accelerate the development of...
  • Bosch Packaging Technology is Now Syntegon Syntegon Technology is the new name for Bosch Packaging Technology, following the sale of the former Bosch division. Headquartered in Waiblingen, Germany, Syntegon Technology’s business focus is on intelligent and...
  • Nestlé Launches New KitKat Gold in the UK Nestlé has unveiled a unique addition to its biggest confectionery brand – the new KitKat Gold. KitKat Gold is a combination of trademark crispy wafer on a smooth milk chocolate...
  • 789 Food and Drink Acquisitions in 2019 2019 broke records again for the number of food and drink transactions around the world, with 789 registered on the Zenith Global mergers and acquisitions database, an average of 15...

Surge in UK Convenience Market

Surge in UK Convenience Market
August 07
13:27 2012

UK convenience stores’ sales are forecast to reach £44 billion by 2017, according to the latest research by IGD. This represents a 29% increase from the current value of £34 billion. The average annual growth rate for the convenience sector is set to be 5.1% between now and 2017.

IGD’s ShopperVista research highlights some of the trends helping convenience stores to grow:

* Shoppers are favouring a ‘little and often’ approach, with 49% of them now doing their grocery shopping three or more times a week, compared to 39% in 2009

* Seven out of ten (72% of) convenience store shoppers can see themselves using these shops to pick up parcels if they are not home for a delivery, saving people time while giving another reason to visit convenience stores and boost sales.

“Despite the tough trading conditions, the UK convenience sector is performing well and growing faster than the total grocery market,” points out Joanne Denney-Finch, chief executive of IGD. “The convenience market is benefiting as people favour a ‘little and often’ approach to their food shopping that helps them budget and spread the cost. The sector is also more competitive than ever, with operators raising their game to attract more customers. This includes offering stronger promotions, a greater choice of goods and better value for money.”

Nearly three-quarters (72%) of convenience stores are still independently owned, either by an unaffiliated retailer or as part of a symbol group such as Nisa or Spar. So they stand to benefit from the considerable interest in supporting local communities and businesses.

She adds: “People are leading increasingly busy lives and might not be home when online deliveries or bulky post arrives. Convenience stores can help by offering the facility to pick up parcels, giving shoppers the opportunity to do grocery shopping at the same time, and providing another reason to use them. The stores could do more to embrace technology and make convenience shopping easier. Two-thirds (65%) of shoppers can see themselves using money-off coupons sent to their mobile phones when doing their convenience store shopping.”

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

[eventlist]

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements