C-stores are set to outperform the wider grocery market over the next five years as new store developments and consumer demand underpin growth.
The UK convenience sector, currently valued at £32.1bn, is projected to grow 5.8% a year to £42.6bn by 2015, according to new IGD figures.
Online grocery is also expected to show rapid growth and double value from £4.8bn to £9.5bn over the same period, thanks to improvements and increased shopper confidence in the channel. Its share of the total grocery market is expected to rise from 3.2% to 5.2%.
Meanwhile, the UK food and grocery market is set to grow on average by 3.9% to £182.7bn by 2015, boosting its share of total retail from 52.7% to 53.9%.
Non-food sales are predicted to increase from £12.4bn in 2010 to £17.1bn over the period. IGD's report revealed optimism among suppliers but also an awareness of the need to innovate.
Nearly two-thirds (64%) of suppliers surveyed planned to create products tailored to different store formats or channel-specific needs.
Many retailers had also announced major development plans, all of which were helping drive growth, said IGD UK research manager Gavin Rothwell.
The UK convenience sector, currently valued at £32.1bn, is projected to grow 5.8% a year to £42.6bn by 2015, according to new IGD figures.
Online grocery is also expected to show rapid growth and double value from £4.8bn to £9.5bn over the same period, thanks to improvements and increased shopper confidence in the channel. Its share of the total grocery market is expected to rise from 3.2% to 5.2%.
Meanwhile, the UK food and grocery market is set to grow on average by 3.9% to £182.7bn by 2015, boosting its share of total retail from 52.7% to 53.9%.
Non-food sales are predicted to increase from £12.4bn in 2010 to £17.1bn over the period. IGD's report revealed optimism among suppliers but also an awareness of the need to innovate.
Nearly two-thirds (64%) of suppliers surveyed planned to create products tailored to different store formats or channel-specific needs.
Many retailers had also announced major development plans, all of which were helping drive growth, said IGD UK research manager Gavin Rothwell.
No comments yet