Convenience stores losing share in market
HIM research shows consumers are turning to specialists for food to go
Two leading research and insight agencies have revealed that convenience stores are losing food to go share to more specialist operators.
The study carried out by MCA Insight and HIM is part of the duo’s exclusive UK Food To Go Market Report for 2019 identified the drop in c-store’s share, although there’s a £0.5 billion growth expected in the next three years.
According to the report, the value of the UK Food To Go market is set to be worth £21.2bn in 2019, a growth rate of 3.0% on 2018. Within c-stores, Food To Go is set to be worth £6.2bn in 2019, with a total share of approximately 30% of the market.
Although the food go market is in growth, the share that convenience holds has declined in the past five years, with better availability, quality and speed of service from specialists swinging in their favour.
“Despite a slight decline in share over the past six years, the Food To Go market is pivotal to the convenience sector,” said HIM’S Research and Insights Director, Val Kirillovs.
“Our shopper research highlights price and convenience as two of the key trends that retailers need to focus on.
“Lunch and snack occasions are dominated by the grocery retailers, however consumers are placing greater importance on range, in particular healthier options.
“Those retailers that are seeing great success in FTG are offering a variety of hot and cold options that cater to the needs of their particular shoppers. These will be best placed to maximise their share of the £0.5bn prize that has been forecasted for the channel over the next three years.”