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Symbol groups to drive c-store expansion says IGD

The UK convenience channel is set to grow by nearly £7bn over the next five years, to be worth £48.2bn in 2024, according to new forecasts from IGD.

Widespread store openings over the period will help to compound an annual growth rate of 3.1 per cent, says the industry group.

“While we expect relatively muted store development across the sector as a whole in the next two years, with the sector undergoing a period of consolidation, we forecast key segments – in particular co-operatives, multiples and symbols - to benefit from strong store growth again from 2021,” says IGD senior business analyst Patrick Mitchell-Fox.

Multiple retailers are growing at a more modest pace, while symbol groups are developing strong own-label ranges, better chilled ranges, and a more competitive general offer to achieve “outstanding” like-for-like performance, says Mitchell-Fox.

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