Convenience sector generates over £45bn in sales last year: ACS report

A new report by the Association of Convenience Stores (ACS) has shown the resilience of the convenience stores amid the challenging times, with sales going over £45 billion in the last year.

The 2022 Local Shop Report by the ACS also forecast this figure to touch £48bn by 2025. The sector contributed over £9.7bn in GVA and over £9bn in taxes over the last year.

The report, published today, reveals the enormous 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,” James Lowman, ACS chief executive, said.

“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 highlights 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 colleagues working in the convenience sector, working a combined nine million hours a week on average
• 71 per cent 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
• 78 per cent of customers agree that local shops are good for the environment, as more customers can walk to store

“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,” Lowman added.