For some retailers, investment in expansion and spending on the maintenance and refurbishment of existing stores might be seen as alternative ways to spend money, with a choice to be made between the two.
However, not everyone will see matters in such binary terms.
Lidl, for instance, has sought to do both. As Retail Gazette reports, the discount store is taking a twin-track approach towards fulfilling its growth ambitions across the UK, opening 19 new stores while spending £43 million on upgrades to 70 of its existing outlets.
Overall, Lidl now has over 1,000 UK stores.
Where Will The New Lidl Stores Be?
The new stores will include three in London and one in Birmingham. However, most are in smaller towns and cities.
Notably, most of the planned new outlets are in the south or Midlands, the exception being Brough in Yorkshire. Wiltshire will see a particularly notable increase in the retailer’s presence, with new stores planned in Calne, Royal Wootton Bassett and Salisbury.
Alongside these new premises, which will create 640 jobs, the retailer is looking to upgrade stores with features ranging from greater freezer capacity to extra tills, with this expansion enabling it to stock a wider range of products.
Commenting on the plans, Lild’s chief real estate officer for Great Britain, Richard Taylor, said: “With this push, we’re set on winning more shoppers across the nation and claiming an even bigger share of the market.”
The details of the expansion plan demonstrate an approach that sees enhancing existing stores and opening new ones as two sides of the same coin; each plays a role in increasing the offering available to consumers, from the addition of stores more local to them before to improvements in what the outlets already in place can offer.
According to the British Retail Consortium, total retail sales grew by a modest 1.2 per cent year-on-year in December, compared with 3.2 per cent a year before.
But while some might see this as a reason for caution and retrenchment, others are being bold and ambitious in seeking to grab a greater share of that modest growth.