British supermarket chain Asda plans to open 300 new convenience stores in the next four years across the UK under its new Asda Express store concept.
The company wants to create 10,000 new convenience store jobs by the end of 2026.
The supermarket chain opened on Tuesday its second Asda Express convenience store in Tottenham Hale, north London. Next year, the company will open new stores in Wiltshire, Essex and Surrey.
Asda is looking to bring the Express concept to customers in convenient neighbourhood and residential settings, particularly those areas where there is not an Asda store nearby.
With sales in convenience stores forecast to grow by 13% to over £50bn by 2027, the development of a store network in this market is a key part of Asda’s long-term growth strategy to become the UK’s second largest supermarket.
Mohsin Issa, Asda’s co-owner 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 by providing shoppers great value and a comprehensive and convenient range of products and services under one roof.”
Asda said the target of 300 Asda Express stores by the end of 2026 does not include the convenience stores Asda is acquiring from the Co-op. ”This deal is currently going through the CMA’s normal competition review process.”