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27/06/2014

Convenience market to be worth nearly £50bn by 2019

Research carried out by Global Food and Consumer Goods experts, IGD has shown that the convenience sector could be worth a massive £49 billion by 2019. This would demonstrate a growth of more than 30% from its current worth of £37 billion.

4.290x141_50billionSymbol group operators have the biggest overall share of convenience sales, accounting for just over £4 in every £10 spent in UK convenience stores. Sales at symbols groups represent more than the next two largest groups (convenience multiples and unaffiliated independents) combined.

Unaffiliated independents and symbol groups currently demonstrate more than 70% of the total number of convenience stores and although growing at a pace, convenience multiples still only represent under 10% of total stores.

IGD chief executive Joanne Denney-Finch said: “The convenience sector continues to build on its success and we’re forecasting almost £12bn in extra sales between now and 2019. Our 24-hour, seven day a week society means people can buy anything, anywhere and at any time. Convenience stores are well placed to make the most of this trend as shoppers use them more than any other type of grocery format.”

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