Growth in the convenience market, challenges for supermarket giants, using customer data and the glass milk bottle revival - we look at recent developments in Retail.
Convenience market set to grow in 2019
The convenience sector is projected to grow by 3.5% in value during 2019, according to a new market valuation by HIM. See the latest figures.
Big 4 UK supermarkets market share
Tesco's market share fell to 27.3% for the past 12 weeks from 27.7% a year ago, with Sainsbury's and Asda on equal shares of 15.2%, after sales fell by 1.7% and 0.2%, says the BBC. Morrisons’ sales fell 0.4%, giving it a share of 10.4%, but like-for-like sales were unchanged at leader Tesco.
German discounters Aldi and Lidl continued to record strong growth, with sales up 11.1% and 8.5% respectively, giving them a record combined market share of 13.8%. Sales at Ocado, Iceland and Waitrose were up on a year ago. Read more here.
Understanding customer grocery shopping habits
The food retail market is changing fast, with consumers not just shopping for what they need, but looking for new experiences and tastes. The key to understanding changing customer behaviour and preferences is data and personalised, timely offers. Read more.
Independent retail stores leading on glass bottle milk sales
A number of independent retailers are capitalising on demand for glass milk bottles, as consumers increasingly look for alternatives to plastic. Read more in Convenience Store.
What does this mean for Post Office?
Running a retail business is challenging in the current economic climate, competition is fierce and shopper habits are constantly evolving. This is affecting businesses large and small, with postmasters and Post Office no exception
The outlook is positive but only if we actively listen and respond to customers. For example,
many customers are becoming more environmentally conscious, with climate change a regular news item. Large brands are making changes, but smaller retailers including some with Post Offices are reacting faster, being first to pioneer initiatives to reduce plastic waste. Like milk sold in recyclable glass bottles for instance, a touch of nostalgia harking back to the age of milkmen, but with a modern, commercial twist.