Convenience independents are investing millions to battle the supermarkets
Convenience stores are planning to invest more in their store more than ever before – and it’s not just the convenience multipl
up their game.
According to figures from the ACS, almost a third of retailers said they were planning to invest in their store, up from 24% last year and 21% in 2013.
The associations’ Investment Tracker survey revealed the convenience industry has invested £177m in just four months – February to May 2015.
Unaffiliated independents and symbol groups are investing half than their retail giant rivals. An average independent store has invested £2,567 and a symbol store has invested £2,536 into improving the business – just half of the multiple’s investment at £6,767.
Refrigeration was the most popular area to invest in. It suggests that many stores are meeting shopper demand for fresh produce and catering for their busy lifestyles with food to go.
ACS chief executive James Lowman said: “Retailers are making investments in their stores to ensure that they can provide a wide range of goods and services to meet the needs of busy modern consumers.”
“The sector overall is currently in a very strong position and our research suggests that it’s a great investment for entrepreneurs – 75% of independent-run stores are operated by first time investors.”
Top 5 fresh range retailers
The convenience sector overall is now worth more than £37bn with IGD predicting that the sector will be worth an extra £6.4bn by 2020.
Sign up today!
For news, insights and the latest product opportunities for you to cash in on.
We use some essential cookies to make this website work. These cookies aren't used to track you. We'd like to set additional cookies to understand how you use our website. This information is used to improve our services.
Our website uses one or more analytical statistical data collection programs to assemble records about who uses the site, from where, how often, what pages, how long on each page, and many other items of statistical importance that allow us to improve our effectiveness in the supply of web experiences.
The nature of the data collected does not give us information about who you are (by name or address) but it can give us IP address identity. Information is collated into a series of reports and is studied on a regular basis.
The stats that these cookies generate are anonymous and cover things such as;
Some pages may contain content from other sites, like YouTube or Flickr, which may set their own cookies. These sites are sometimes called ‘third party’ services. This tells us how many people are seeing the content and whether it’s useful.