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C-store boom lifts grocery market Friday, 17th June 2011
The latest figures from food an grocery analyst IGD show the UK’s convenience store market is up 4.9 percent, and ahead of the overall grocery market.
This week Sainsbury’s reports sales up 4.3 percent for the quarter, citing its investment in convenience stores as a key driver. According to IGD the sector now makes up 20 percent of the grocery market, as sales across local shops reach £32.4 billion and are expected to rise to £42.3 billion in the next five years.
And it’s not just the big players that are looking for a slice of the c-store action. Franchises under brands such as Nisa are becoming popular investments for would-be entrepreneurs.
Speaking on behalf of business brokers Redwoods Dowling Kerr, Charmaine Stubley told My Retail Media: “More and more, we are seeing potential buyers who are keen to take control of their working lives and pursue an alternative career. With the recent success reported in the Grocery sector, [convenience] stores are increasingly becoming some of the main types of businesses our buyers are interested in.”