Independent retailers are more than holding their own against the might of the multiples in the convenience sector, according to a new report.
Symbol fascia sales have grown an impressive 9.2% in the past year to £12.6bn the fastest growing segment within convenience according to the IGD's Convenience Retailing 2011: Forces Behind a Changing Landscape report. Symbols now command a 38.9% share of the total convenience market, up from 37.3% last year.
Sales among unaffiliated indies fell 1.5% to £6.8bn a more modest dip than in previous years. "The decline over the past few years is definitely slowing," said IGD analyst David Shukri. "Average sales per store are also up 2% among unaffiliated independents, which suggests indies are performing well against the competition."
Shukri said symbol groups were continuing to benefit from unaffiliated indies opting to join up with a symbol fascia to compete on a firmer footing against the multiples.
Convenience stores owned and run by the multiples chalked up an 8.1% hike in sales to £5.1bn. Their share of the market grew from 15.4% to 15.8%. The total convenience sector continued to grow ahead of total grocery, up 4.9% by value to £32.4bn.
"Trends such as strong promotional activity, an ongoing rise in petrol prices and the ability to respond to changing shopper behaviour are all contributing to the success of the sector," Shukri added.
C-stores run by co-operatives boosted sales by 3.2% to £3.7bn, the report found.
Symbol fascia sales have grown an impressive 9.2% in the past year to £12.6bn the fastest growing segment within convenience according to the IGD's Convenience Retailing 2011: Forces Behind a Changing Landscape report. Symbols now command a 38.9% share of the total convenience market, up from 37.3% last year.
Sales among unaffiliated indies fell 1.5% to £6.8bn a more modest dip than in previous years. "The decline over the past few years is definitely slowing," said IGD analyst David Shukri. "Average sales per store are also up 2% among unaffiliated independents, which suggests indies are performing well against the competition."
Shukri said symbol groups were continuing to benefit from unaffiliated indies opting to join up with a symbol fascia to compete on a firmer footing against the multiples.
Convenience stores owned and run by the multiples chalked up an 8.1% hike in sales to £5.1bn. Their share of the market grew from 15.4% to 15.8%. The total convenience sector continued to grow ahead of total grocery, up 4.9% by value to £32.4bn.
"Trends such as strong promotional activity, an ongoing rise in petrol prices and the ability to respond to changing shopper behaviour are all contributing to the success of the sector," Shukri added.
C-stores run by co-operatives boosted sales by 3.2% to £3.7bn, the report found.
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