The Co-op has opened 10 new stores in London this year, halfway towards its target 20 for the capital in 2016.
In addition, it has rebranded 27 out of its 242 stores in the Greater London area with its new blue and grey colours and revamped cloverleaf symbol.
“We have successfully reached the halfway mark in our goal to open 20 new stores in the London area by the end of the year,” Rob Bignold, head of acquisitions and new store development, told The Grocer.
“By mid-August, we have also rebranded a total of 27 stores, including refits.”
Bignold highlighted the Co-op’s recently opened “flagship development” in Crouch End, North London, part of its Budgens’ store acquisitions.
The branch sells more than 300 products from local, regional and organic suppliers, including eggs from nearby farms and beer from the East London Brewing Company.
In its recent report, ‘Sunny sales up - How a good summer could generate millions for UK businesses’, the Co-op said London was the fastest-growing region for convenience shopping, with consumers more likely than elsewhere to buy lunch and breakfast on the move.
“Hectic lives mean that consumers seek out companies that make life easier, give them back time, or provide them with a worthwhile experience,” it said.
“Leisure time is now more valued than ever, and necessities like food shopping should be as quick and easy as possible.
“Londoners are the least likely in the country to know what they are having for the evening meal, but conversely are the most likely to buy something for that evening’s meal that day.”
In February, the Co-op expanded its acquisitions team for Greater London, with Bignold labelling London as strategically “very important”.
“We made some fantastic gains in 2015, opening and contracting on close to 60 stores in London and the South East,” he said at the time. “The new team will help us build on this success, setting us up for significant growth over the next year and beyond.”
The ‘Sunny sales up’ report also revealed convenience was being driven by growth in small households with 72p of every £1 spent in a Co-op coming from a one or two-person household versus 60p for the total market.
“For one or two-people households, Co-op is the UK’s favourite destination for top-up shopping for evening meals [Kantar Worldpanel Usage Panel],” it said.
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