They are the next generation of retailers who are shaking up the convenience sector with their trailblazing ideas. They are North East Convenience Stores.
Founded in 2002, and run by brothers Sanjeev and Naveen Vadhera, the chain has grown from one to 18 stores in just 10 years, and is not just surviving, it’s thriving. Sales in 2011 increased 17% to £13.8m, and profits rose by almost 50% top £482,000.
Squaring up to the might of the multiples, store standards are outstanding - judges said the Gosforth store “wouldn’t have looked out of keeping in Notting Hill” - and the brothers tailor each to the local area, showcasing local produce and helping customers save money on their shop.
Initiatives include a loyalty club an ‘Ask Paul’ scheme complete with a cartoon cut-out of one of its store managers to encourage customer feedback and displays of historic photographs of the local area.
The chain even runs the cheekily-named ‘Whickham Price Drop’, which highlights products that are cheaper than a Tesco Express just a stone’s throw from its Whickham store. Sales dropped 30% when the Tesco Express opened six months ago, but thanks to the ‘Price Drop’, sales are just 5% down and Sanjeev and Naveen are confident this deficit will be overturned in the next few months.
North East Convenience Stores has also been working hard to improve its energy efficiency. It has reduced emissions by 30% in the past year due to new refrigeration systems, and recycling has increased from zero in 2010 to an impressive 75% today.
Gold medal standard
- 1
- 2
- 3Currently reading
Independent Retail Chain of the Year: Brothers reap rewards of innovative local schemes
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
No comments yet