Following the news that Amazon may be looking to enter the London convenience market, Kantar Worldpanel has reported that the strength of the sector there means that the online giant could be well placed to benefit.
“If the online giant does make a move into British bricks-and-mortar, it certainly makes sense to look in the capital in the first instance,” commented Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel.
“The London convenience store market is worth £1.4 billion annually in take-home groceries alone, and the current rate of growth is 13%,” added McKevitt.
Readying For Entry
In February, The Grocer reported that Amazon had secured some retail space in the heart of London, to potentially develop its Amazon Go format.
Amazon already has a strong reputation in the London area, with 10% of its current FMCG shoppers living within the M25, and a further 25% in the south of England, Kantar Worldpanel added.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.