Symbol groups ‘must evolve faster’ in convenience store market

Symbol groups haven’t moved fast enough for convenience store growth and need to up their game, the owner of the My Local chain has said.

Former ACS chairman Mike Greene, who is due to take over 140 convenience stores from Morrisons on October 26, told Retail Express there has been very little evolution in UK symbol groups in recent years. “The best example of UK symbols is where the independent retailer has done outstanding things, rather than the symbol group,” he said.

However, he said the One Stop franchise has recognised the need for evolution and delivered a successful, better disciplined offer to retailers.

Greene expects My Local to push high standards in convenience retailing further.

“Independents and symbols need to recognise the need to change,” he added. “Symbols should up their game and become retailers separate to their wholesale needs because there has been a battle between whether their priority is as a wholesaler or retailer.”