UK: Co-op launches "generation two" c-store concept
Co-op plans store investment
The Co-operative Group, the UK's fifth-largest grocer, is launching a number of initiatives it believes will reverse its declining market share.
The retailer is planning to invest in its existing store base and in opening new stores.
It unveiled its "generation two" convenience store concept at a strategic update in London today (5 March).
The Co-op is trialling the initiative at 20 c-stores that have benefited from changes to the way the stores look and to product ranges. It is aiming to roll out these changes to one-third of its estate this year.
In addition, the firm plans to win over consumers by stepping up its investment in price. It is an area in which the group has under-invested, affecting its competitiveness. Details of how much the group would spend on cutting prices are yet to be confirmed.
A spokesperson for The Co-op told just-food its efforts are more "evolutionary than revolutionary", building on initiatives already put in place - including the relaunch of its own label last year.
The company also plans leverage its position in the fast-growing convenience sector through opening new stores.
"We have an aspiration to significantly increase our convenience estate going forward," the spokesperson told just-food. "We are keen to accelerate further growth in an exciting market."
The CEO of the Co-op's food business, Steve Murrells, said the company would hope to operate around 4,000 convenience stores. The Co-op operates around 2,800 stores, 2,000 of which are convenience outlets. Murrells did not, however, provide a timetable for expansion.
The Co-op also hopes to expand its presence in Central London, where it is "under-represented" with 60-70 stores, the spokesperson said. "We do see the M25 corridor as an important development area."
While the group continues to explore the possibility of developing an online presence by developing services such as click and collect, the initiative is less of a priority than revamping store formats, the spokesperson said. "The main thrust will be around bricks and mortar but online and convenience are very complementary."
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
The Co-operative Group Ltd is expected to consolidate its retailing division during the forecast period through the development of new outlet formats across all of its UK outlets. Following falling sa...
Fonterra is ranked in the top 21 among dairy players. However, this is due for the most part to its strong presence in Australasia. The company is looking to diversify, investing in a China-based dair...
"The Future of the Ice Cream Market in Mexico to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape" is the result of Canadean’s extensive market and company researc...
"The Future of the Ice Cream Market in Austria to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape" is the result of Canadean’s extensive market and company resear...
"The Future of the Ice Cream Market in Israel to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape" is the result of Canadean’s extensive market and company researc...
"The Future of the Ice Cream Market in Peru to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape" is the result of Canadean’s extensive market and company research....
- Challenges for General Mills with The Good Table
- What US companies might Nomad Foods buy?
- Greek crisis - The impact on shopper behaviour
- Why investors are concerned about water risk
- Competition intensifies among UK burger chains
- Mitsubishi buys stake in Olam International
- B&G Foods "front-runner for Green Giant"
- FrieslandCampina H1 earnings up despite flat sales
- Mengniu sales dip but work on costs boosts profits
- Arla strikes JVs in Nigeria and Senegal
- Management briefing: just-food’s industry outlook for 2015
- Food Flavourings & Colourings (UK) - Industry Report
- Biscuit Manufacturers (UK) - Industry Report
- Bakery Market in Japan: Forecast, and Market Analysis 2015-2019
- Probiotic Ingredients Market by Function, Application, End Use, Ingredient, and by Region - Global Trends & Forecast to 2020