Sainsbury’s has revealed that annual sales in its convenience stores have reached £3bn for the first time.
Revenues in its 800+ smaller stores have grown 10% in the financial year to date and are now up 7% on pre-pandemic levels. The figures also show that there have been over 45 million more customer visits to Sainsbury’s Local outlets in the last year, driven by people returning to the workplace after the Covid crisis.
Over the past year, Sainsbury’s has opened 12 convenience stores and has plans to open over 20 more in the next 12 months to meet growing customer demand.
The majority of Sainsbury’s convenience store estate operates under the Local format and more than 130 of these specifically cater for customers looking for ‘food-on-the-move’ in urban areas. There are also nine Neighbourhood Hubs, the group’s new format featuring more product choice for local communities.
“We know how much customers value being able to shop when and how they want, particularly in the post-pandemic world,” said Clo Moriarty, Sainsbury’s Retail and Digital Director.
“Convenience is a growing part of our business and seeing our convenience stores reach today’s £3bn sales milestone is a huge achievement and testament to how we are delivering what customers want.”
NAM Implications:
- Key for suppliers to use these stats as a benchmark…
- …to assess the degree of under/over trading with Sainsbury’s.
- And to check re their fair share of sales and investment.
