Convenience Stores Invest £596m Over Past Year

New research from the Association of Convenience Stores has revealed that local shops across the UK have invested well over half a billion pounds in their businesses over the last year.

The ACS Investment Tracker looks at the amount spent by convenience store owners on improving their stores through improvements to refrigeration, energy efficiency measures, full refits and other physical changes to stores.

ACS chief executive James Lowman said: “These figures show the significant and essential contribution that convenience stores make to the UK economy. As well as over 400,000 people being directly employed in stores, in the past year we put £596m into equipment manufacturers, shop-fitters and tradesmen.  Local shops really are the everyday entrepreneurs that drive sustainable growth in local communities up and down the country.

“Government needs to get the conditions right for local shops to continue this investment.  The budget announcement of more small business rate relief will help promote investment and jobs in our sector.  However, the introduction of the National Living Wage in April will bring significant costs for local shops, and make it harder for businesses to get a return on these investments and to maintain staffing levels. Many of the stores that we have surveyed believe that they will have to cancel investment plans to cover the dramatic increase in staff costs.”

Over the course of the last year, 36% of investment by local shops has been in refrigeration, 26% in shelving, 21% on internal building maintenance, 16% on lighting, and 15% on store signage.

This entry was posted by Leah on Thu, 24/03/2016 - 13:07