Store Excel Weekly News Digest
Convenience Stores Set to Grow over next five years
Cash & Carry Magazine reports that the Institute of Grocery Distribution (IGD) is forecasting that convenience stores are set to add £7 billion in sales in the next five years reaching £47.2 billion by 2023. The sector will benefit from strong store expansion over this period helping to fuel a compound annual growth rate of 3.3%.
Bestway Announces New Terms for Conviviality Franchises
Bestway has published new trading terms for its new franchisees following the acquisition of the Bargain Booze business. Select Convenience and Wine Rack More brands will have wider access to Bestway products and can source up to 10% of goods outside of Bestway.
Convenience Growth Drivers
Patrick Mitchell-Fox of the IGD states that the growth drivers for convenience over the next five years will be: food to go, evening meal solutions, fresh coffee to go and parcel collection. This will help replace lost sales in declining categories such as tobacco and news. Cash & Carry Magazine August 2018.
Hyperama Invests in Growth.
Inside Media.com reports that the Nottingham based Hyperama wholesaler has secured a £15 million finance package from HSBC to refurbish its warehouses, increase importing capabilities and support its growth plans. The company will use part of this investment to modernize its West Bromwich depot.
Co-Op Leads the Convenience Planning Applications
The Grocer reports that the Co-op overtook Aldi and Lidl for store planning applications in the first half of 2018. They filed 34 applications during this period and opened 21 new stores. Lidl opened 29 stores in the same period. Iceland is also highly active with their Food Warehouse format which is expanding rapidly.
Driverless Grocery Home Deliveries
The i newspaper reports that Kroger, the biggest grocery chain in the USA is testing the use of driverless cars to deliver orders in Phoenix Arizona. By the autumn they expect the service to be fully functional.
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