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Tesco hopes to double the size of its convenience store empire — in a move sure to strike fear into the hearts of independent corner shop owners across Britain.
The nation’s biggest retailer told City analysts in a private briefing it would step up the expansion of its Tesco Express format. It has about 1,000 small stores and believes there is the potential for 2,000.
Tesco said: “There is room for more Express stores in sites where there is consumer demand, but we haven’t set a target.”
The retailer claimed that customers like the convenience of being able to walk to their local store. It added that Express stores created jobs in communities and Tesco had a strong record of developing sites in disadvantaged areas that were often overlooked by other retailers.
The move comes as rivals step up their expansion in the £29 billion convenience store market. Waitrose said in September that it would open 300 smaller shops to rival Tesco Express and Marks & Spencer’s Simply Food format.
James Lowman at the Association of Convenience Stores, said: “It is clearly a threat and presents some challenges, but local shops are getting to know what to expect from Tesco Express.”
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