Waitrose is ramping up investment in its store portfolio with plans to open up to 100 convenience shops across the UK over the next five years. The announcement comes as it unveils its latest vision for what its shops could look like for customers in the future.
Its John Barnes shop in Finchley Road, London will test new concepts as part of a store investment programme. This will see Waitrose inject a record £1bn over the next three years into new stores and improvements to 150 existing shops, almost half of its estate.
The transformation of the Finchley Road store builds on the revamp of its Sudbury shop, in Suffolk, last year. These stores, along with the makeover of its Maidenhead shop in the autumn, which will mark the next evolution of the retailer’s shop proposition, will be used to trial new services, product offerings and concept upgrades over the next 12 months before a new blueprint for Waitrose shops is revealed in 2025.
The investment in the store portfolio will focus on the areas that differentiate the retailer, including:
Upgrading service counters: At a time when many food retailers are removing theirs, meat and fish counters have been given a new look and upgraded.
Award-winning wine selection given greater prominence: Finchley Road is the first Waitrose to feature an entirely chilled department for white wine, champagne, rose and beer.
Greater flexibility to respond to local demand: Finchley Road has given more space to top sellers including adding a second dry aged beef cabinet and dedicated parmesan section – 12% of Waitrose parmigiano counter sales come from the one store.
More third party collaboration: A new and exclusive partnership with Crosstown doughnuts has been introduced as part of a refreshed bakery and Waitrose has expanded its concession with Sushi Daily to include a Hot Wok offer of ready-to-eat dishes.
More dedicated space for on demand grocery orders: The store becomes the first Waitrose shop to feature a hatch to allow riders to make collections outside of the store’s opening hours. It is also the first UK supermarket to have a dedicated internal space for on-demand grocery collections due to the increased popularity of orders through Deliveroo and Uber Eats.
The first new Waitrose store in six years will open in Hampton Hill later this year, subject to planning approval, with a second following in Greater London which will open early in the new year. The convenience store will trigger one of the biggest periods of expansion as Waitrose looks to reach more customers having served a record 15 million last year.
James Bailey, executive director for Waitrose, said: “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.
“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.”
Nish Kankiwala, chief executive officer of the John Lewis Partnership, said: “Our investment in our Waitrose store portfolio is already yielding strong results, with customers responding positively. 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.”
Waitrose has also continued to significantly invest in value and innovation this year to help attract and excite customers. It has invested millions of pounds in lowering hundreds of prices while refusing to compromise on the quality and animal welfare that sets it apart. It has relaunched its premium No.1 range, agreed exclusive partnerships with Yotam Ottolenghi and ZOE’s Daily30+, and acquired the restaurant-quality meal-kit delivery service, Dishpatch.
The latest Kantar figures reported last week show customers are responding to the investment in the offering, Waitrose recorded its strongest growth since November 2023 and is continuing to gain market share after July’s figures showed an increase for the first time since January 2022. It was also named top food retailer by the Institute of Customer Service last month.
