UK convenience sector investment reaches £1bn for first time

By: Trademagazin editor Date: 2024. 09. 12. 09:10

Investment in local UK shops hit record highs over the last year as convenience store retailers look to futureproof their businesses.

Over the past year, convenience retailers spent a combined £1bn, up from £646m in the previous 12 months, on refitting stores, installing new energy efficient refrigeration and lighting, and detecting and preventing crime.

The findings, which come from the Association of Convenience Stores (ACS) 2024 Local Shop Report, showed this investment figure is the highest on record since the report’s inception in 2012.

Of the 50,387 stores in the convenience sector, 71% of these are run by independent retailers and more than half (56%) of independent retailers fund investment from their own reserves.

In adapting to new technology and methods, the report also found that more than one in six convenience stores (17%) now have a self-service till, up from just 3% in 2019.

Almost half (47%) of independent retailers also offer some from of home delivery or click-and-collect service.

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