Independent food retailers are gaining on the supermarkets following a huge high street boost last year.
This is according to new figures from Simply Business, which found a growth of 30 per cent in the number of independent food retailers across the UK.
The UK’s leading business insurance broker, which analysed over 40,000 independent retail outlets, also found that independent supermarkets performed exceptionally, seeing a 65 per cent rise from 2012 to 2013. The number of bakeries grew by 31 per cent, while independent fishmongers saw an increase of 28 per cent.
Further down the scale but still noting significant growth were wine merchants, the number of which increased by 10 per cent year on year, and butchers, which grew by 9 per cent.
So which retailers are on the increase? See our findings below:
|Type of independent retailer||Percentage increase from 2012 to 2013|
|General food store||+32%|
It is thought that the rise can be partly attributed to a growing ‘foodie’ culture across the UK, along with negative sentiment towards major supermarkets and chain retailers, many of which have suffered from a string of bad press.
This is supported by Simply Business’s research, which also noted an 18 per cent overall growth in the number of British independent retailers.
Simply Business CEO Jason Stockwood said: “The surge in independent food merchants exemplifies the nimble nature of small businesses as their success is often determined by smartly tapping into growing trends at the right time
“We hope these independent food and drink stores will profit from consumers turning their backs on established supermarket chains in favour of their local providers who breathe new life into community high streets. Independent businesses are vital to the ongoing growth of the UK economy and our findings reinforce this.”
Notes to Editors:
*Figures are based on analysis of insurance policy data from 41,538 independent retail outlets insured by Simply Business between 2012 and 2013. In 2012, Simply Business recorded a total of 2,086 food and drink business policies compared to 2,655 in 2013.
For further information, please contact:
Eleanor Gough/Nithiya Gnanathas/Jack Davies
020 7199 6189/020 7199 6196/020 7199 6193
About Simply Business
Launched in 2005, Simply Business provides an online brokerage service delivering policies tailored to individual business requirements. It has a team of UK based insurance specialists and employs almost 300 people across offices in London and Northampton.
Simply Business provides insurance to more than 475,000 UK SMEs and landlords and owing to its internal underwriting capability can cover over 1,000 trade types. It has been a Sunday Times Tech Track 100 company for the past three years and was recently named in the Deloitte Technology Fast 500 EMEA. Revenues have grown from £4.2 million in 2006, to £25.4 million in 2014, and the company has been named 2015 and 2016 winners of The Sunday Times’ Best Company to Work For.