Waitrose has announced plans to launch a new smaller stores format in the UK as it looks to expand.
The upmarket grocer is set to open at least 100 smaller market-stores of between 10,000 sq ft and 15,000 sq ft and is also considering taking on the convenience market with a range of stores of between 3,000 and 4,000 sq ft.
The new stores will boast a fresh look and will meet increasing consumer demands for both fresh foods and locally sourced ranges.
The first market-store is expected to open in St Neots, Cambridge, later this month with a further five expected by the end of the year.
Commenting on the initiative, Waitrose managing director Mark Price said: “Our brand has traditionally operated most successfully at around 20,000 sq ft, but in an increasingly competitive market place the challenge was to develop the potential of smaller shops in our estate .”
“The market town format will allow us to achieve that as well as offering new opportunities to grow the business .”
“We’re aiming to reflect the ambience of a traditional grocery shop by focusing on the sense of community and service associated with our brand,” he added.
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