The convenience sector has grown at more than double the rate of the total grocery market in the past year and is set to smash through the £30bn mark by 2008, according to the latest IGD Convenience Retailing report.
The report reveals that the convenience sector is now worth £23bn, 7.3% up on 2003, while the total grocery market has grown by 3.3% over the same period to £115bn. The convenience sector now commands 20p in every pound spent on grocery and average weekly sales have shot up 9.7% on last year, the top performers coming from the co-operative sector with average sales of £22,568, followed by the convenience multiple sector with £19,589.