Headline messages from the forecasts include:
- Discounters, online and convenience will account for over 40% of the market in five years
- Discounters are set to double in value over the same period, accounting for one pound in every nine (11%) spent on UK groceries by 2019, up from 6% currently
- Online will be the fastest growing part of the market, more than doubling in value to £17bn and will be worth 8% of the market over the same period, boosted by a surge in usage of home delivery and click and collect services
- The convenience sector, already the second largest grocery channel, continues to grow and will account for nearly a quarter (24%) of food and grocery sales by 2019
Shoppers have more choice than ever before
Commenting on the new forecasts, Joanne Denney-Finch, chief executive of IGD said: “People are now more willing to shop around at different types of grocery formats, such as convenience stores, discounters or buying online. They have more options available to them than ever before. Our ShopperVista research shows that on average shoppers are using four retail formats a month to buy their food and groceries. Shoppers now expect grocery retailing to organise itself around their lives rather than building their routines around store opening hours. They expect to buy whatever they want, anytime, anyplace in the most convenient way to them.
Source: RetailAnalysis
