U.K. Convenience Stores Realize Strong Gains

Sales at Britain's convenience stores rise 4.9 percent to $52.57 billion.

May 26, 2011

CRAWLEY, ENGLAND ?" Sales at U.K. convenience stores were up 4.9 percent in 2010-11, according to food and grocery analysts IGD, The Grocer reports.

Annual sales for the convenience store industry reached ?32.4 billion (U.S. $52.57 billion), more than one-fifth of the country??s total grocery market. Independent retailers led much of the growth, despite the expansion of large grocery chains into the convenience sector.

IGD attributed the growth to the ability of the sector to respond quickly to changing consumer behavior, strong promotional activity and higher fuel prices that encouraged local shopping. It predicts that the sector will generate ?42.3 billion (U.S. $68.63 billion) in annual sales by 2016, growing at 5.5% a year ?" far outpacing the 3.7% growth rate predicted for the grocery market overall.

Ralph Patel of The Look-In in Woodmansterne, Surrey, U.K., said, "I'm not surprised by these figures. My own sales have increased by much more than 4.9%, as the number of shoppers waking up to the benefits of buying from local stores has grown. However, I've had to work at it by introducing new ranges such as fresh fruit and vegetables."
Advertisement
Advertisement
Advertisement