Symbol groups are forecast to become the largest market in convenience following a £2.5bn value growth by 2023, but wholesalers are not making the most of the opportunity, an industry expert has said.

Speaking at the Women in Wholesale conference in London on 11 September, Patrick Mitchell-Fox, senior business analyst at IGD, said the growth will be driven by retailers continuing to embrace trends.

“Symbols have a £1.5bn value and they will continue to gain a share of the market. Shops like Nisa Battersea General Store or Spar,” said Mitchell-Fox. “Eat17 chain are embracing trends from specialist suppliers, but mainstream wholesalers are frequently not part of the equation.

“Spar is taking on the challenge with its Daily Deli offering, but this is a rarity and not matched.”

Mitchell-Fox added the collapse of Palmer & Harvey and Kerryfresh, alongside Conviviality’s financial issues opened up a £5bn opportunity for wholesalers this year.

“The market conditions were a boost for wholesalers such as Booker and its 1,200 forecourts, and this is expected to strengthen. Next year is unlikely to have the same bounty unless wholesalers address current challenges.”

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