FDBusiness.com

UK Grocery Market to be Worth £203 Billion by 2019

 Breaking News
  • Arla Foods Delivers Turn-around After Tough Start to 2018 After a difficult first quarter, Arla Foods came out of 2018 with improved sales and brand share as the international dairy co-operative’s performance grew stronger throughout the year. The transformation programme Calcium delivered cost-savings far beyond targets for the year and thanks to a historically strong balance sheet the board of directors has proposed to [...]...
  • British Gin Boosted by Exports The latest figures from HM Revenue and Customs show that British gin sales abroad, in 2018, were worth £612 million – up 15% on the previous year. In 2016 export sales of the juniper-based spirit broke the half a billion-pound mark for the first time and since then the popularity of British gin has seen [...]...
  • Operating Profit Declines at PepsiCo Announces $2.5 Billion Restructuring Programme PepsiCo has reported a 2% increase in net net revenue to $64.66 billion and a 2% drop in operating profit to $10.11 billion for 2018. However, organic revenue, which excludes the impacts of foreign exchange translation, acquisitions, divestitures, structural and other changes, grew 4% and and core constant currency operating profit increased 2%. Commodity mark-to-market net [...]...
  • Kerry Group Benefits From Unique Business Model Kerry Group, the global taste, nutrition and consumer foods business, has reported a 3.1% increase in revenue to €6.6 billion for the year ended 31 December 2018, reflecting strong volume growth and contribution from acquisitions, partially offset by adverse currency movements. Business volumes grew by 3.5% and pricing decreased by 0.5% against a backdrop of [...]...
  • Premier Foods Discontinues Ambrosia Sale Process Premier Foods has decided not to proceed with the potential disposal of its Ambrosia brand. A number of parties expressed interest in the business, and since the New Year Premier Foods has been engaged in detailed discussions with a small group of potential buyers. However, the Premier borad has concluded that in the present business [...]...

UK Grocery Market to be Worth £203 Billion by 2019

UK Grocery Market to be Worth £203 Billion by 2019
July 07
09:39 2014

The UK grocery market is set to be worth £203 billion by 2019 increasing by 16% from its current value of £175 billion, according to the latest forecasts by IGD. Discounters, online and convenience are predicted to account for over 40% of the market in five years.

Discounters are set to double in value over the same period, accounting for one pound in every nine (11%) spent on UK groceries by 2019, up from 6% currently

Online will be the fastest growing part of the market, more than doubling in value to £17 billion and will be worth 8% of the market over the same period, boosted by a surge in usage of home delivery and click and collect services

The convenience sector, already the second largest grocery channel, continues to grow and will account for nearly a quarter (24%) of food and grocery sales by 2019

Although less money will be spent at superstores and hypermarkets by 2019 than currently, the majority of food and groceries will still be bought in these types of shops. They will still represent over a third (35%) of the total grocery market by then and will increasingly be used as pick-up points for click and collect orders and to service online home delivery orders.

“People are now more willing to shop around at different types of grocery formats, such as convenience stores, discounters or buying online,” says Joanne Denney-Finch, chief executive of IGD. “They have more options available to them than ever before. Our ShopperVista research shows that on average shoppers are using four retail formats a month to buy their food and groceries.”

She continues: “Shoppers now expect grocery retailing to organise itself around their lives rather than building their routines around store opening hours. They expect to buy whatever they want, anytime, anyplace in the most convenient way to them. This is about format, not only about price. While price was initially what attracted people to discounters, shoppers tell us they feel there’s been an increase in quality. As discounters’ stores are also typically smaller than supermarkets, shoppers also say it’s quicker and easier to get round them. Discounters have been opening additional stores giving more people access to them and increasing their range of products to help people buy more of their groceries there. Half (51%) of shoppers told us they used food discounters in the last month to buy some of their food and groceries, up from 37% in 2011.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 18, 2019Multimodal 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements