• Autumn sees bounce back after “budget shock”
• Indies and symbols ahead of multiples
INVESTMENT by c-store owners bounced back in autumn 2015 after a period when spending on stores had stalled, according to the latest findings by the Association of Convenience Store Investment Tracker.
The Tracker reported that convenience retailers invested £157m in their business in the third quarter of the financial year (September, October, November 2015).
That was 36% up from £116m in the preceding quarter but was lower than the £177m invested in the Investment Tracker report released last February.
ACS suggested stores could have been investing ahead of Christmas while still dealing with the “shock” of the Westminster budget earlier in the year, which announced the National Living Wage.
Overall average investment at independent convenience stores was said to be £2,165, 68% up on the preceding quarter, with the average spend for those actually making investments in the quarter said to be £9,240.
At symbol stores the overall average investment was £3,405, up 53% on the preceding quarter, with the average spent by those actually carrying out investments measured at £10,848.
Average spend at multiple grocers’ convenience outlets was said to be £3,957 just 4% up on the preceding quarter.
The most popular form of investment in independents and symbol stores was spending on refrigeration, which figured in 36% of the stores who carried out investments. Next most popular investment was in shelving.