Dive Summary:
- According to a presentation by Kantar, retail drug stores, dollar stores and membership warehouse clubs will experience the fastest growth of all retail outlets within the U.S. over the next five years.
- These three retail formats could outpace the projected growth rate of 4.5% by the year 2018. “One reason club stores and dollar stores will be successful is that they both do a good job curating product,” says Bryan Gildenberg of Kantar Retail.
- Excluding online sales, overall retail revenue is expected to climb 3.5% over the same period. Healthcare reform is also expected to contribute to an increase in revenues for retail clinics by the beginning of 2014.
From the article:
Kantar projected that retail square footage would grow about 1.5% in the next five years, with 60% of that coming from small-format stores like drug stores, dollar stores and convenience stores. Online food sales are projected to increase from 1% of total food sales currently to about 5% of food sales by 2020.