Non Food Item Sales At UK Supermarkets Forecast To Grow 40 Per Cent
A new report by the institute of Grocery Distribution (IGD) suggests that Supermarket chains in the United Kingdom will increase the sales of no grocery items by over 50 years in the coming five years.
The report forecasts that supermarkets will come to rely less on traditional food items for their sales and will focus instead on non food items, whose sales will rise from £11.6 billion to £16.2 billion by the year 2014. The change will add further pressure to traditional high street and fashion retailers such as WH Smith and PC World.
The report also suggests that the British grocery market will have an estimated value of £175.9 billion by 2014 representing an increase of 20 per cent from today’s value of £146.3 billion.
IGD chief executive Joanne Denney-Finch said: “The food and grocery industry has demonstrated resilience during a period of economic uncertainty.”
“Food and grocery retailers have been steadily investing in non-food, both in-store and online and will increasingly reap the rewards, prospering in a value-conscious and convenience-driven marketplace.”
Gavin Rothwell, IGD senior business analyst, added: “While retailers continue to strengthen their core food and grocery business, many are also broadening their non-food ranges beyond toys, DVDs and clothing with items as diverse as fitness equipment, dishwashers and bathroom suites .”
“Others are expanding the services they offer such as banking, eye care and travel services – helping drive further growth.
Please Note - All Prices Quoted Are Correct at Time of Posting
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