Convenience market to grow by 8% this year, says report

Wholesale takeaway market

The convenience retail market within the UK is set to grow by 8% to £44.7bn in 2020, according to HIM & MCA insight’s new UK Convenience Market Report 2020.

Up from 2.6% growth in 2019, the findings show increased volume and sales during the coronavirus lockdown period, as consumers favour in-home consumption due to risk aversion as well as watching their discretionary spend.

When split out by store type, co-operatives are forecast to see the fastest growth – up 12% year-on-year. Unaffiliated independents are set to grow 11%, symbol stores 7%, forecourt stores 6% and convenience multiples 6%.

Permanent shift towards grocery delivery, says report

Blonnie Walsh, head of insight at HIM & MCA Insight says: “The turn of the decade has seen a transformative year for the convenience retail market. Convenience retailers have been forced to adapt to new basket dynamics and an evolving core consumer base. A shift in shopper missions has resulted in increased basket spend and size, rewarding retailers for the support and commitment they have shown to their local communities.”

“Provenance has been a growing trend for some time, and we continue to see increases in the proportion of shoppers choosing a particular store in order to support local businesses. The lockdown will only have accelerated this trend and retailers can leverage this by highlighting local credentials, including work with local suppliers.”

Opinion: The competitive landscape of the wholesale industry is changing

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Paul Hill
Paul Hill is the Editor of Better Wholesaling. Paul can be found on Twitter on @BW_PaulHill, or can be contacted via paul.hill@newtrade.co.uk and 020 7689 3376.

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