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Of every £1 spent in the retail industry, 49 pence is spent on the grocery sector, creating a market worth in excess of £123bn.
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What’s more, grocery spend is relatively price inelastic. Consumers may substitute premium goods for value items in times of economic struggle, but the fact remains that people have to eat, and so consumption levels remain constant. This provides a fantastic opportunity for suppliers, and consistent levels of spend to compete for.
Within the UK there are 102,511 grocery stores operating as convenience stores, supermarkets, traditional retail stores like newsagents & off-licences, and alternative channels comprising kiosks and vending among others. In order to succeed, you need to fully understand how they work, and develop a clear strategy for each.
Finding a niche is critical to your brand's success and through product innovation, driving value and demonstrating significant insight, a USP can be identified and a brand built that is perceived to own the category. And as we know in the retail market, perception is the reality.
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Foodservice Experience
The out of home sector is a complex and fragmented marketplace, with more than 260,000 outlets worth an estimated £30bn.
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Retail Experience
Of every £1 spent in the retail industry, 49 pence is spent on the grocery sector, creating a market worth in excess of £123bn.
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Trade Experience
The grocery wholesale market in 2006 was found to be worth £17.48bn, comprising cash & carries (£9.4bn) and delivered wholesalers (£8.1bn). |
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