Asda set to open 300 convenience stores
Asda has announced that it plans to open 300 Asda Express convenience stores by 2026.
The supermarket retailer said it hopes the move will create 10,000 jobs over the next four years.
Asda today opened their second Asda Express store, in Tottenham Hale.
The retailer said that sales in the convenience market are forecast to grow by 13% to over £50bn by 2027, and that the development of a store network in this market is a key part of its long-term plan to become the UK’s second largest supermarket.
Asda said it aims to bring its Express concept to convenient neighbourhood and residential settings, particularly where there is not an Asda store nearby.
Mohsin Issa, co-owner of Asda, said: “A key part of our growth strategy is to provide customers with more opportunities to shop at Asda closer to where they live or work. With more than three quarters of the UK population visiting a convenience store in the last 12 months, the potential for growth in this market is significant. Our ambition is to become the convenience destination of choice”.
The 300 planned Asda Express stores do not include the stores it is acquiring through the Co-op. This deal is currently going through the Competition and Market Authority’s normal competition review process.