The number of convenience stores in operation in the UK remains virtually unchanged from last year, according to new figures from IGD Retail Analysis and William Reed Business Media.
According to the study, for the year to end 31 March, there were a total of 47,227 convenience stores open across the UK, compared to 47,230 last year.
There has been a marginal increase in the number of unaffiliated independent convenience operations (+1.9%), while the number of convenience multiples has also grown (+5.3%).
'The multiple and co-operative segments once again grew in store numbers over the last 12 months, with key players implementing strategic opening programs,' IGD said in a statement.
“Our figures demonstrate that growth in certain areas of the market over the last 12 months has been tempered by rationalisation in other segments," said Joanne Denney-Finch, chief executive, IGD. "This has led to overall store numbers remaining stable.
“However, convenience is now facing increased competition from other channels that have also spotted the trend for top-up shopping, such as supermarkets and food discounters. Offering shoppers the ability to save time will therefore become increasingly important to convenience retailers as this competition intensifies. We expect to see them building loyalty by giving shoppers convenient and effortless ways to get the products, meals and food-to-go options they want, in the shortest time possible."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
