The habit of doing a large food shop once every seven days is so engrained in our culture that it even has its own name: the weekly shop. But is the weekly shop on its way out; is it sat with a ‘reduced to clear’ sticker plastered on its front as the sell-by date fast approaches?
It’s a scary thought for those who long for a fully-stocked fridge, but according to new research by retail analysts Mintel food buyers are increasingly abandoning large trolleys in favour of smaller baskets. In other words, shoppers are turning to convenience stores for regular food shops, rather than less frequent bulk-buying trips.
The figures show that over the past year sales through convenience stores have risen by 1.8% to reach £37.8 billion. If Mintel is to be believed – and the company is usually a pretty darn good bellwether for market trends – then this is just the start of things to come; the research stated that the convenience food shopping market is going to grow by around 13% over the next five years to reach £43.8 billion in 2020.
Mintel’s study comes as another bitter pill to swallow for Britain’s food retail giants, which have already had to continuously attempt to undercut their competitors as part of a supermarket price war. The result is that the total value of grocery spending per week fell by 0.2% in 2015.
The findings of this recent piece of research might not seem earth-shattering – after all, figures like 1.8% and 0.2% aren’t going to cause mass hysteria on the stock market. But people will vote with their feet, as the old adage goes, and a clear trend is emerging.
Consumer habits are changing and food shoppers evidently want convenience – they are buying little and often, not waiting until the weekend to raid the shelves of their local supermarket. The challenge for food retailers, therefore, is to improve the customer experience by making grocery-buying far more efficient. As ever, when an industry is in need of a proverbial shot in the arm, embracing disruptive technologies could hold the key. Enter Ubamarket!
We will be updating you about the revolutionary, game-changing, life-altering wonderfulness that is the Ubamarket app more over the coming weeks! Watch this space… WATCH IT!