Sales at convenience stores across the UK have rocketed by £2bn this year from £43.2bn to £45.2bn, according to the latest findings from the ACS.
Its 2022 Local Shop report, which launched today, revealed that figure is set to grow further to over £48bn by 2025.
It comes as the sector demonstrated a fruitful year of investment, with UK convenience retailers spending £605m into their stores over the past year, compared to £534m in 2021, which was predominantly funded by their own reserves.
Key areas of investment included refrigeration, shelving, store signage, internal building maintenance, and freezer space.
The trade body said the report also highlighted the important role convenience retailers continue to play in the community, with the average customer visiting their store 2.7 times a week. If their local shop was no longer there, shoppers would have to to travel 1.42 miles to find another local store.
Seventy-three percent of independent retailers were also engaged in some form of community activity, such as collecting money for charities, litter picking or donating to a food bank.
“The Local Shop Report is our most comprehensive look at the UK convenience sector, providing crucial insight into the way that stores are run, the colleagues that are employed in stores and the communities they serve,” said ACS CEO James Lowman.
”The report is currently making its way to every MP in Westminster, highlighting just how important we are not only as a sector, but as individual businesses trading in just about every postcode across the UK.
“This year’s Local Shop Report shows the continued resilience of the convenience sector after the pandemic and in the early stages of the cost of living crisis. Local shops are well placed to support their customers during this difficult time through a diverse range of products and services, helping consumers manage their money and making a really positive impact in the communities they trade in.
”We believe the Local Shop Report sends a clear message about the importance of convenience stores, and the need to support them in difficult times, such as those we’re facing right now with energy costs.”
The report also revealed the sector’s 405,000 convenience store employees were working a combined nine million hours a week on average. Six percent of shop owners, on the other hand, continued to work more than 70 hours a week. This has,, however dropped from 10% of shop owners the year before.
More retailers have been able to take time off over the past year, too. According to ACS’s 2021 Local Shop Report, almost half of independent convenience store owners had worked every day during that year, revealing the number of retailers taking no days off had doubled since 2020.
However, this year’s report showed 26% of retailers took no holiday over the past year.
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