The 2022 Local Shop Report produced by the Association of Convenience Stores (ACS) points to the resilience of the sector amid difficult trading conditions.
The UK convenience channel generated sales of over £45bn during the last year, with that figure expected to grow to more than £48bn by 2025.
The report notes the major contribution that convenience stores make to people’s lives, not just as essential grocery businesses, but as job creators, community hubs and beacons of entrepreneurship.
“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 that they trade in,” said James Lowman, ACS Chief Executive.
“We believe that 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 that we’re facing into right now on energy costs.”
The report looks at the decisions being made in the UK’s 48,590 convenience stores in areas like investment, staffing, product mix, technology and service offerings, and delivery.
Key figures from this year’s report include:
- There are over 405,000 people working in the convenience sector, working a combined nine million hours a week on average
- 71% of stores in the convenience sector are run by independent retailers, either entirely unaffiliated or as part of a symbol group
- Convenience stores have invested over £605m over the last year
Lowman concluded: “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. 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.”
