Superdrug has revealed that it plans to open 25 new stores during 2024 as it marks its 60th year on the UK high street.
The move is part of the health & beauty retailer’s strategy to enhance the physical shopping experience for consumers by introducing bigger and better store formats in prime retail destinations.
In addition to the new stores, Superdrug will also be extending seven existing stores and refitting 60 throughout 2024.
The focus on improving its bricks & mortar estate has already seen Superdrug double the footprint of its Craigavon store in Northern Ireland this year to 5,800 sq. ft., as well as extending its Lakeside Thurrock store to 7,669 sq. ft. with the addition of a new fragrance counter and Nurse services. Additionally, Superdrug will be unveiling some of its biggest stores throughout the year, including three at St David’s in Cardiff, Bluewater Shopping Centre, and Westfield Stratford City.
The Cardiff store, which was one of the retailer’s first Beauty Studio concept stores, will be upsizing to a new 11,300 sq. ft. with a new treatment studio, offering additional make-up services alongside beauty and piercings. Its store in Westfield Stratford City, which opens in the summer, is also doubling in size to 9,892 sq. ft.
Meanwhile, refitted stores will benefit from new shop fronts, improved flooring and ceiling tiles, energy efficient LED lighting, new floor layouts, and upgraded fascia and internal signage.
The investment, which is part of the company’s continued focus on an O+O (Online + Offline) platform strategy, follows a period of strong trading. Superdrug experienced a bumper Christmas, with total sales increasing 9.2% in the four weeks to 30 December and LFL sales up 7.1%. Its last available accounts covering the 52 weeks to 31 December 2022 show its revenue rose 17% to £1.37bn, with pre-tax profit increasing by 71.7%.
“We’ve changed a lot in the 60 years since the first Superdrug store opened in Putney high-street, but we remain as committed as ever to providing a seamless shopping experience for our customers, offering the very best in accessible health and beauty,” said Superdrug’s Property Director, Nigel Duxbury.
“This investment into bricks & mortar means we can grow our footprint in key locations and highlights our ongoing commitment to high streets and retail shopping destinations, which are an integral part of local communities and economy.
“2024 will see some of the largest ever Superdrug stores open their doors, which is something we are really excited about, as these larger retail units give us the space to be able to offer new and exciting services and even more of the latest health and beauty products.”
NAM Implications:
- With 60 years of successful trading behind them…
- …Superdrug patently doesn’t feel the need to modify a successful O+O formula.
- Begging the question:
- Are you doing enough to reflect their improvements in your Superdrug strategy?
- Or are you prepared to risk the possibility of rivals pointing the way…
