The convenience retail sector is growing. And it’s going to keep growing. By 2020 IGD predicts that the convenience market will be worth a staggering £44.1bn – that’s a growth of +17%. While this is a prediction there’s no doubting the growth of the sector over the last five years: between 2010-15 the value of convenience grew 27.4% and is currently worth £37.7bn. Is it any wonder more retailers are looking at how they can grow their business?
The numbers of stores in the UK is expected to hit 48,500 this year, with almost 15,500 symbol stores. When that’s measured with unaffiliated stores, there remains a gap of around 3,000 – with 18,500 unaffiliated stores. That gap is closing however with symbol groups growing by a modest +1.6% and unaffiliated stores declining -0.7%.
And while much of the value of the sector comes from convenience multiples, symbol groups now represent almost one in every three convenience stores – while under one in 10 are supermarket brands.
Much work has been done in recent years by the country’s symbol groups to improve their offer, to make it more appealing for both retailers and consumers. Operating a convenience store in this modern world is about embracing new, innovative solutions – from category management, to mission shopping, technological advancements and energy efficiency.
All of these things are possible in unaffiliated stores but the support offered by symbol groups makes it easier and more cost-effective to become a modern convenience business. That’s why we’ve put this guide together to highlight exactly what some of the biggest groups operating in Scotland have to offer. So read on, and if you are considering your next move, we hope this guide is of help to you.
Premier | Costcutter | Lifestyle Express | Best-one | Londis
