This week, Ubarmarket Founder Will Broome attended the launch of the ACS Local Shop Report 2017. And what a day it was! Providing a comprehensive overview of what the UK’s convenience stores really mean to Britain’s retail landscape, the dominating outcome was small is most definitely mighty. The day’s panel discussions and research insights looked at the convenience stores trading in the UK, the staff that work in those stores and the customers they serve, contextualising the invaluable role the small shop plays towards society and the wider economy. The statistics were enlightening and are neatly pulled together in this short video:
Key findings from the day include that there are now just over 370,000 jobs in the convenience sector and 49,918 convenience stores in mainland UK, 74% of which are run by independent retailers.
Further stats include:
- Sales have risen by £500m in the past year to £38bn – which makes this sector of the economy comparable in scale to other large UK sectors like recruitment, defence, and oil & gas
- 20% of independent convenience store owners work more than 70 hours a week, while 19% take no holiday throughout the year
- Convenience store retailers have invested over £858m in the last year on improving their stores, extending the range of services available to customers and making their businesses more efficient
Panel guests from across the nation attended the day’s events, with one of the key outcomes being that Intense competition & rising sales show that convenience stores have never been more relevant to both society and the progression of our retail economy. The full report can be found here: https://www.acs.org.uk/research/local-shop-report
Ubamarket has always been a long-standing supporter of the UK convenience store, basing some of our founding principles on the convenience model – Wednesday’s insights have fuelled our support even further and we look forward working with small shops across the nation!