Food Stores Shrinking In Size

Driven by a robust growth in target market segments -- such as natural/organic, ethnic and gourmet stores -- the average size of a supermarket in the U.S. decreased to 34,000 feet in 2003, taking the size of new stores below 40,000 for the first time in 1

1 minute read

December 22, 2004, 12:00 PM PST

By Abhijeet Chavan @http://twitter.com/legalaidtech

"The report, Facts About Store Development 2004, attributes the declining percentage of new store construction to a tough economy and a highly competitive business environment.

New store construction went down for the fourth consecutive year, totaling 3.1 percent of all stores. Store remodeling tended to be the activity of choice by most food retail companies, with 4.9 percent of those surveyed remodeling at least some stores. The percentage of store closings remained fairly stable at 2.7 percent, compared with 2.5 percent the year before. "

Thanks to Clayton Husband AICP

FULL STORY: Surge of Smaller Stores as Food Retailers Focus on Niche Markets Including Organics, Ethnic and Gourmet Foods, According to FMI’s Facts About Store Development 2004

Tuesday, December 21, 2004 in Food Marketing Institute

Community / Economic Development United States

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