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UK Convenience Market To Be Worth £48.2bn By 2024: IGD

Published on Aug 15 2019 7:40 AM in Retail tagged: Trending Posts / UK / Convenience Stores / IGD / Paywall

UK Convenience Market To Be Worth £48.2bn By 2024: IGD

The UK convenience market is projected to grow by £6.9 billion (€7.5 billon) in the next five years to £48.2 billion (€52.2 billion) by 2024, according to IGD.

The category is expected to see a compound annual growth rate of 3.1%, boosted by new store openings during the period.

'Period Of Consolidation'

Senior business analyst at IGD, Patrick Mitchell-Fox, explained, "While we expect relatively muted store development across the sector as a whole in the next two years, with the sector undergoing a period of consolidation, we forecast key segments – in particular co-operatives, multiples, and symbols – to benefit from strong store growth again from 2021."

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