Local convenience stores to see annual £11bn boost by 2018

By Emily Kearns

Published: 20 May, 2013

The UK food and grocery market will be worth £46.2 billion in 2018, according to research from IGD, up a third from its current value of £35.6 billion.

Symbol operators currently account for just over 40% of convenience sales, significantly more than the other segments, with convenience multiples the fastest-growing segment in the 12 months to April 2013.

Non-affiliated independents still boast the highest number of convenience stores and the number owned by the multiples has grown fastest, currently representing 10% of the sector.

Joanne Denney-Finch, chief executive of IGD, said: "The convenience sector goes from strength to strength - we are forecasting £11 billion in extra annual sales between now and 2018.

"The increasing quality of the stores and shopping experience is helping to broaden the sector's appeal. Rather than offering the same thing to everybody, convenience operators are increasingly tailoring their stores and products depending on local demographics and shopper missions.

"Convenience stores are also making the most of their convenient locations with some differentiating themselves by offering Amazon lockers, for example, while others are providing pick-up locations for parcel deliveries. This provides busy shoppers with the chance to use the large convenience store network to make their everyday tasks easier to manage.

"Symbol groups offer independent store owners the chance to join a growing part of the market, providing advantages such as group marketing and collective purchasing power.

"And with different types of retailers placing such an emphasis on the convenience sector, there's never been a more exciting time for the channel."

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