How many supermarkets will we really need?
The future of the UK grocery market.
The UK supermarket sector is in crisis. The growth of casual dining, ecommerce and convenience formats, combined with over-expansion of large stores, is forcing the Big 4 supermarkets (Tesco, Sainsbury’s, Asda and Morrisons) to re-evaluate their portfolios.
Since 2007 grocery space across all formats has grown by 38%, and hypermarket and superstore space has grown by 30%, despite negligible real growth in grocery sales over the same period. As a result sales densities in large formats have declined dramatically, with hypermarkets’ sales per square foot falling by 33% in real terms over the period.
This White Paper assesses how the sector will evolve, reviewing the factors driving the over-supply of space and the implications for the Big 4’s store estates and business models.
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