Waitrose has announced plans to open 100 new convenience stores over the next five years as part of a £1 billion investment into its store estate.
The upmarket retailer has confirmed the details of what is expected to be one of the 'biggest periods of expansion' in its history. This move represents a significant scaling up of its convenience store estate, which currently stands at 44 locations.
As part of the plans, a Little Waitrose in Hampton Hill, London, will become the retailer's first new store in six years.
The Hampton Hill site remains subject to planning approval but is expected to open later this year. Waitrose has also announced plans for a second convenience store, which is set to follow in the new year at a location in Greater London.
Waitrose Executive Director James Bailey has previously emphasised the importance of convenience as a key growth area for the retailer, especially as it strives to regain market share lost to competitors like M&S in recent years.
Waitrose has experienced a boost in its food-to-go sales following the relaunch of its own-label food-to-go range. The retailer has also strengthened its rapid delivery services through expanded partnerships with Deliveroo and Just Eat, further enhancing its convenience offerings.
Waitrose is also planning to open four new supermarkets over the next five years as part of its £1 billion investment into its store estate. Additionally, the retailer aims to renovate 150 of its existing 329 supermarkets, focusing on adding new technology, revamping counters, and improving service and product availability.
The new store plans come after the reopening of the Waitrose John Barnes store in north London on 21 August. This site serves as a trial store for future Waitrose openings and features a range of new fixtures and formats, including a hot wok counter and a dedicated on-demand grocery delivery hatch.
“Waitrose will always offer fantastic food, but the groundwork we have undertaken behind the scenes in recent years means we can now focus on growth through new shops and ensuring our existing ones are providing great shopping experiences that match the quality of our products,” Bailey said.
“The transformation of our Finchley Road store marks the next evolution of our journey to create a great shopping experience for our customers, underpinned by a high-quality product offering tailored to the local area, and the quality service we are synonymous with.
“In designing the store, we have taken time to understand how our customers like to shop, and used this knowledge to introduce new concepts that will be tested and rolled out nationally as we continue to work towards the Waitrose of the future,” he added.
A significant focus of the new trial stores has been enhancing 'localisation,' tailoring each store to the specific needs of local shoppers. For example, the John Barnes store features a dedicated parmesan concession, which is particularly relevant as this store accounts for 15% of total parmesan sales across the entire business.
Waitrose has also repositioned the checkouts away from the store entrance, revamped the bakery section, and added a new fully chilled aisle for wines, spirits, and beers.
John Barnes is Waitrose’s second new trial store, following the renovation of Sudbury in Suffolk earlier this year. Maidenhead is scheduled for investment this autumn, with Newbury also expected to be next in the pipeline.
The £1 billion investment is part of a revamped turnaround strategy unveiled by JLP CEO Nish Kankiwala and outgoing chairman Sharon White in March. This strategy, focusing “unashamedly” on retail basics, follows the partnership’s return to profitability.
“Our investment in our Waitrose store portfolio is already yielding strong results, with customers responding positively,” Kankiwala said on the new opening.
“As our retail-driven plan continues to gain traction, our growing number of shoppers and increasing customer satisfaction scores are clear indicators of its success. This is a result of our unrelenting focus on improving the customer experience of our retail businesses, taking the love that exists for both brands and making sure customers are rewarded with better shops, the highest quality products, and the best service.”