Skip to main content

Convenience store owners spend millions in battle against supermarkets - UK

Owners of convenience store owners have invested £162m of their own money in the past three months in the wake of changing consumer shopping habits.

In attempts to better meet time-poor customers’ needs, small food shop owners (75% of whom set up their stores as first businesses) are self-funding their stores.

The investment will widely help improve ranges of food-to-go, such as meal deals, coffee and sandwiches, as well as food-for-tonight, which includes ready meals.

The findings come from research by the Association of Convenience Stores, which represents the majority of Britain’s small food shops and cites that some shop owners are even setting up branded areas with partners such as sandwich maker Subway or bakery chain Greggs.

The survey recorded that 76% of retailers are funding their own investments, while just 4% are getting bank help.

“The fact that the majority of the investment is being funded through reserves is a testament to the resilience of the retailers running convenience stores,” said an ACS spokesman. “Now that economic conditions are improving, retailers are able to use the reserves to improve their stores, increase sales and future-proof their businesses.”

The ACS said it had not seen any evidence of banks refusing business loans. “It is more likely that the stores are exercising caution, relying on the money that they already have or working with their partners, such as buying networks Spar and Nisa, to improve their store.”

Pin It

Related Articles

Spar reports growth of 3.3% as global retail sa...

SPAR, the world’s largest food retail voluntary chain, has seen annual retail sales break the €40 billion mark for the first time, today reporting global sales revenue of €41.2 billion for the year ending December 31st, 2021. The figures represent...

Informal Retail in Africa: Could Technology be ...

Since the turn of the century and consistently for nearly a decade before the COVID-19 pandemic ravished global markets, Africa was home to the fastest growing economies. The shoots of positive growth it demonstrated afforded it the title of the “...

Consumers need a good reason to shop this Black...

Last year’s Black Friday retail sales massively underperformed for many reasons, according to Marino Sigalas, Account Director at The MediaShop. He says that some consumers were not comfortable with the thought of being shoulder to shoulder with o...

Checkers launches deals onto its Sixty60 home d...

Retailer Checkers says that customers using its Sixty60 home delivery service will now be able to benefit from its Xtra Savings rewards programme.

SA wipe manufacturer Sani-touch is ahead of the...

In the UK a government minister is calling for a new law to ban wet wipes that contain plastic. Labour minister Fleur Anderson argues that around 90% of the 11 billion wet wipes used in the UK per year contain some form of plastic that turns into ...