Convenience stores are planning to invest more in their store more than ever before – and it’s not just the convenience multipl
up their game.
According to figures from the ACS, almost a third of retailers said they were planning to invest in their store, up from 24% last year and 21% in 2013.
The associations’ Investment Tracker survey revealed the convenience industry has invested £177m in just four months – February to May 2015.
Unaffiliated independents and symbol groups are investing half than their retail giant rivals. An average independent store has invested £2,567 and a symbol store has invested £2,536 into improving the business – just half of the multiple’s investment at £6,767.
Source: ACS Investment Tracker (March – May 2015)Refrigeration was the most popular area to invest in. It suggests that many stores are meeting shopper demand for fresh produce and catering for their busy lifestyles with food to go.
Roli Ranger invested in his new Londis of Sunninghill store this year and opened in June 2015.ACS chief executive James Lowman said: “Retailers are making investments in their stores to ensure that they can provide a wide range of goods and services to meet the needs of busy modern consumers.”
“The sector overall is currently in a very strong position and our research suggests that it’s a great investment for entrepreneurs – 75% of independent-run stores are operated by first time investors.”
Top 5 fresh range retailers
The convenience sector overall is now worth more than £37bn with IGD predicting that the sector will be worth an extra £6.4bn by 2020.
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