Latest News from Everett Masson & Furby

With talk of a double dip recession and the High Street being in turmoil, as evidenced by figures from the British Retail Consortium showing a 3.3% drop in like for like sales compared to April 2011, it is exceptionally encouraging that the Convenience Store sector where the EM&F group have held a presence as Specialist Agents for around 50 years is one business sector where growth is actually occurring. 

Figures produced for the National Convenience Show actually show 4.4% growth for 2011, which is fantastic news for the sector, reports Andrew Wilby or EM&F North East.  Furthermore the Convenience sector now controls just over a fifth of the nations grocery market (21.4%).

This is something to shout about says Andrew Wilby and business buyers can look at the sector with confidence as shoppers are now staying local, which is just what every independent local store owner wants to hear.

Furthermore, the sector shows significant signs of optimism and extracts from the highly influential Association of Convenience Stores (ACS) in their second ‘Voice of Local Shops’ survey key factors.

• Optimism – 36% of Retailers are considering investing in their stores,and 50% of Retailers expect sales to rise this year.
• Independent Sales Increasing – over a quarter of Independents are reporting a sales increase in the last 3 months.
• Job Creation – around 23% of retailers are intending to increase their paid staff hours...
• Community Leadership – with the localism agenda now gaining ground, it is also interesting  that around 13% of retailers are taking on some form of Community Leadership role, which is highly advantageous to local areas, as the local store seeks to become the Heart of the Local Community.

For buyers of Convenience Stores, this is excellent news especially as funds for Convenience Stores are available, as banks look to lend to trading businesses in preference to sectors of the property industry.

Jubilee Year just might be the year to buy a Convenience Store!