The Association of Convenience Stores (ACS) has released its 2020 Local Shop Report, which outlines the major contribution the 46,955 stores in the convenience sector make to the UK economy and their importance during the recent lockdown.
Key figures from the study include the convenience sector generated £44.7bn in sales over the last year, contributing over £10.1bn in GVA.
Convenience stores have also invested over £585m during the last 12 months in improving their businesses and introducing new services, whilst employing around 412,000 people across the country.
ACS Chief Executive James Lowman commented: “The convenience sector’s role as a substantial job creator cannot be overstated. Retailers provide secure, local, flexible jobs that fit alongside other commitments like childcare and helping relatives. This is why job satisfaction in the sector is high, and more than half of the colleagues working in stores see themselves staying in a similar role in five years’ time. Our role as an employer has never been more important.”
This year’s Local Shop Report also includes specific information about the convenience sector’s experience of lockdown. Two-thirds of retailers reported an increase in sales over the period, whilst convenience stores are now providing over 600,000 home deliveries a week to local people.
Lowman added: “When the UK went into lockdown in March, millions of people turned to their local shops to help keep them going with essential groceries and services. Retailers have done a stellar job of adapting and developing their businesses to keep up with demand, with no greater example than the incredible growth in home deliveries.
“We anticipate continued growth in the convenience sector in the coming months and years, as both new and existing customers keep coming back to their local shop.”
