Supermarkets have downsized the sizes of their stores, for the first time in a decade, according to analysts, while some say it is the first time floor space has shrunk in superstores since 1940.
Following the crux of the price war, the superstores began to downsize a lot, in order to try and stabilise their profits. Past mistakes, such as building too many convenience stores seem to be being rectified, but this has come at the price of floor space.
Morrisons have recently shut stores and sold off a huge portion of their convenience stores, and the warehouses supplying the supermarkets seem to have become more valuable than the supermarkets themselves.
The explosive growth of online shopping has also helped to make superstore floors pace superfluous.
A million square feet has apparently been lost or sold off by the supermarkets over the last year, highlighting one of the toughest times that the corporations who hold sway over our country’s groceries have faced.
However, the newer kids on the scene, the discount stores, particularly Aldi and Lidl, have been expanding further and are increasing their floor space, adding an estimated 500,000 square feet of store space per year.
Despite the fact that it feels too early and we still aren’t quite over summer yet, the Christmas season is on the way. This massive season for supermarkets will see them gearing up campaigns to try and cash in on the festive season.
