Sainsbury's has announced it is planning to open 50 new convenience stores in London and the South East by early 2014.
Convenience at Sainsbury's is growing at 18% year on year which highlights the importance of the channel in the retailer's strategy. So far this financial year the retailer has opened 87 convenience stores, taking the total number of stores in its estate to 523. All of the new convenience stores announced will be supported by a new state of the art distribution centre at Thameside which will be dedicated to convenience.
'Going from strength to strength'
Simon Twigger, Sainsbury's Convenience Director commented "Our convenience business is going from strength to strength as customers continue to enjoy the benefits of regular top up shopping and the ability to walk to a local store...The new 'Locals' will be located on high streets and in the heart of communities, providing access to healthy, quality food at fair prices.
Heightened competition for sites
This announcement follows the news Morrisons and Waitrose are both looking to increase thier convenience store presence in London and the South East. Waitrose has announced its intention to open 10 stores in the capital during 2013, while Morrisons expects to operate 100 convenience stores within a year, many of which will be located in the South East. Competition for appropriate sites in the region is therefore set to intensify as retailers look to build their convenience networks.
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Don’t miss the Sainsbury’s Trade Briefing 2014, taking place on 28 January in London, to hear the latest trading update and development plans from Justin King and the senior executive team...More >>