A new study has revealed Aldi and Waitrose to be the fastest-growing retailers in the UK.
The study, whose results were presented at Retail Week Live by OC&C Strategy Consultants, placed Aldi and Waitrose first and second, respectively, in their ranking of the 20 fastest-growing British retailers, in which ten value brands appear alongside six premium brands.
German retailer Aldi has grown revenues by an average of £1.2 billion per year since 2011, while British supermarket Waitrose has grown revenues by £360 million over the same period of time.
Anita Balchandani, head of retail and a partner at OC&C Strategy Consultants, said, "We've seen the majority of growth in the retail sector come from its polar extremes in terms of price position. Although, at first glance, these retailers have little in common, what they all share is a trait to adapt the quickest to what matters most to customers, create strong propositions that are well rated by customers, and good, transparent value, regardless of their price position.”
The study compared the 630 fastest-growing retailers in the UK and the biggest Western markets: France, Germany, the US, the Nordics and the Netherlands. It highlights that the UK has been a retail-growth hotspot, despite a challenging macroeconomic environment.
Based on the latest available sales period, the average British retailer grew by about 1 per cent. However, the top retailers in OC&C's ranking have had an average growth of 17 per cent during the same time span. This includes foreign retailers like Aldi and UK brands like ASOS (ninth place).
Balchandani added that, “The fastest-growing retailers in both the UK and across the biggest Western markets show that it is possible to grow against the odds in low-growth economies. They have grown by capitalising on, and responding to, key customer needs. We’re seeing a range of key customer trends, be they the growing importance of convenience, value, luxury, and healthy and active lifestyles. Those retailers which grow will find that they do so by exposing their businesses to these tailwinds."
@ 2015 ESM - European Supermarket Magazine
