The Association of Convenience Stores (ACS) has released its Local Shop Report 2024 for Wales, revealing the work that local shops in Wales do in their communities.
The Welsh government has announced a new £20m Future Proofing Fund for businesses in retail, hospitality and leisure worth between £5,000 and £10,000 to spend on energy efficiency improvements. Convenience stores in Wales have invested a total of £48m in their businesses over the last year, the majority of which is funded from their own reserves.
ACS chief executive James Lowman said: “Local shops in Wales are essential job creators, providing local, flexible and secure employment for over 28,000 people in communities across the country. Despite ongoing challenges for all businesses in recruiting and retaining colleagues, the convenience sector remains established as a long term, secure career path.
“Wales’ 3,000-plus convenience stores remain well placed to support their customers through a diverse range of products and services, helping consumers manage their money and making a really positive impact in the communities that they trade in. We believe that the Welsh Local Shop Report sends a clear message about the continued importance of convenience stores.”
Key findings from the 2024 Welsh Local Shop Report include:
- Convenience stores in Wales create more than 28,000 jobs
- 87% of independent retailers in Wales engaged in some form of community activity over the last year
- The convenience sector in Wales generates over £2.9bn in total sales
- 88% of stores now accept contactless payment
Lowman added: “After the energy price shocks of the last year, we strongly welcome the announcement of new grant funding for local shops and other businesses to be able to make their businesses more sustainable and energy efficient in the future.”
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