The convenience sector generated more than £45bn in sales over the past year, representing a big opportunity for food and drink producers who wish to enter the channel.
According to the ACS’ 2022 Local Shop Report, on average independent convenience stores sold 4,100 SKUS over the course of a year, while the sector is expected to grow to over £48bn by 2025.
Other key figures from this year’s report include:
- 71% of stores in the convenience sector are run by independent retailers, either entirely unaffiliated or as part of a symbol group
- Convenience stores have invested over £605m over the last year.
- 78% of customers agree that local shops are good for the environment, as more customers can walk to store.
- There are over 405,000 staff working in the convenience sector, working a combined nine million hours a week on average.
ACS chief executive James Lowman said: “The report is currently making its way to every MP in Westminster, highlighting just how important we are not only as a sector, but as individual businesses trading in just about every postcode across the UK.
“This year’s Local Shop Report shows the continued resilience of the convenience sector after the pandemic and in the early stages of the cost-of-living crisis. Local shops are well placed to support their customers during this difficult time through a diverse range of products and services, helping consumers manage their money and making a really positive impact in the communities that they trade in.
“We believe that the Local Shop Report sends a clear message about the importance of convenience stores, and the need to support them in difficult times, such as those that we’re facing into right now on energy costs.”
ACS is bringing the Local Shop Report to life this year with new convenience stories, hearing directly from retailers about how they run their businesses, their investment plans, contributions to the local community and more. The six short video clips are available to view below:
- Chloe Taylor Green – Being a Young Entrepreneur
- Christine Hope – Rural Trading
- Dee Sedani – Services and Technology
- Joe Williams – Investment
- Amish Shingadia – Being Part of A Family Business
- Julie Duhra – Community Retailing
The full Local Shop Report is available here.