Co-op opens over 100 stores in a year
The Co-op opened its 110th new convenience store in 12 months when it launched a new store in central London. The new shop in Shepherds Bush is part of an ambitious store development program that will see a further 120 stores opened in 2016.
The Co-op is responding to the consumer changes which is seeing more people shopping little and often, conveniently – shoppers buying for tonight, or for the next two or three, days, rather than shopping for the week or month.
Many people, living busy lives, decide what to eat just a few hours in advance, spontaneous shopping and a shift in social and lifestyle agendas has led to a growing number of people planning meals less and turning to shopping little and often.
The convenience market is currently worth £37.7bn and is projected to grow by 17 per cent to be worth £44.1bn in 2020, increasing its share of the total market from 21.2 per cent in 2015 to 22 per cent in 2020.