Convenience sector to grow by 30% by 2018
The food and grocery convenience sector will be worth over £46 billion by 2018, growing at an average of 5.3% per year, according to a report by the Institute of Grocery Distribution (IGD). Between 2012 and 2013, non-affiliated independents had the highest number of stores in the UK at almost 19,000, but sales had fallen by 0.5%.
Symbol groups, including Londis and SPAR, had the highest level of sales at £14.7 billion, while convenience multiples, such as Tesco Express and Sainsburys Local, were the fastest-growing sector, with sales increasing by over 11% since 2012.
Independent shops gaining appeal
A third of consumers would welcome more boutiques and independent shops on their local high street, while only one in five would like to see a greater number of pop-up stores, according to research by Udozi. The research also found that shoppers buy from independent stores to support local traders, to widen their choice of products and to avoid buying mass-produced items.
However, 60% of respondents said independent shops were too expensive, while 10% were put off by their lack of mobile and online presence.