Nisa to expand by nearly 18% in 2024

Nisa is set to expand its total estate by nearly 18% through new forecourt recruitment, according to Lumina Intelligence’s 2024 Convenience Market Report.

The data and insights company has revealed that the number of symbol sites is to expand through growth driven by strategic expansion and acquisitions, based on survey data of 1,500 weekly responses and 78,000 annual responses.

The top 10 convenience fascias are forecasted to achieve a combined average growth of 5.8% in 2024, but leading the way is Asda Express, with a predicted 41.7% increase in outlets, fuelled by site conversions of recent acquisitions from Co-op and EG Group.

Nisa follows with projected 17.7% growth, driven by targeted forecourt store recruitment.

Overall, symbol groups are forecast to account for 38% of the convenience market value in 2024, up 0.8 percentage points compared to the pre-pandemic period.

In terms of categories, co-operatives will see a boost of 0.6 percentage points in market value, followed by multiples which are up just 0.1 percentage points.

Forecourt drop

Meanwhile, forecourts are predicted to see a 0.6 percentage point drop, with unaffiliated independents falling a whole percentage point.

Average spend was found to be down by 31% in April 2024 compared to April 2023, with average spend per item clocking in at £2.72.

The report also states that the convenience channel is more affordable to shoppers seeking to maximise their budget, as the average spend fell by 84p, at a rate faster than inflation, in the latest four weeks analysed.

The report also dove into innovation by symbol groups, revealing that Bestway is adopting hybrid store models to blend convenience with destination categories, for instance service-standard food-to-go, premium off-licences, and soft drinks.

Meanwhile, Premier and Spar stores are building on technology to streamline in-store processes and enhance operational efficiency, according to Lumina.

Post-pandemic, symbol groups including Booker, Bestway’s Best One and Parfett’s Go Local are said to have built on success with store renovation projects centred around destination categories.

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