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CHESTERTON LAUNCHES FOOD STORE MARKET REPORT
After more than a decade of superstore domination, food retailers are returning to the high street. In a major report launched in June, international property consultant Chesterton reveals the changing face of food retailing as grocery multiples fight for increased market share.
The 32-page report Food Stores -- A Taste of the Future is a comprehensive analysis of the UK's food store market to date. It identifies opportunities for superstore growth, but at a regional level and within 15 selected towns, and includes property profiles of all the major food operators. Additionally, Chesterton's research team has developed a unique food store market share cycle.
The cycle is broken down into four phases. The first two, introduction and expansion, cover the emergence of the superstore and its growth within a local market or catchment. By the time the cycle reaches the characterisation phase, superstore markets are nearing saturation and the major food retailers look to town centres for residual expenditure, triggering the acquisition of existing stores.
Once the multiples have consolidated their town centre presence, the cycle moves into the final phase of rationalisation. The majors will spend more on refurbishments, extensions and store replacements, while the independent and traditional and regional chains will be forced to reassess their position, invariably resulting in some store closures.
The introduction and expansion phases …